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Overview According to the Internal Revenue Service (IRS), no permission or authorization to set up either an FSA or HSA account is required. Both accounts are intended to help provide you with financial assistance regarding medical care costs. An FSA (flexible spending account) is set up by your employer. An HSA (health savings account) is … Continued
Question: If an employee has a small health flexible spending account (FSA) balance with a carryover to the next year, and the employee chooses not to participate in the new FSA year, can the employer force the employee to use those funds so as not to incur additional administrative fees in the next plan year? Answer: … Continued
With the election of a new President, health care plans and the fate of the Affordable Care Act are a hot topic of discussion. As part of his 7-tier health plan, President-Elect Donald Trump has proposed a shift in the way health savings accounts (HSAs) are offered to working Americans. Simply put, an HSA is … Continued
Employee training programs are beneficial to organizations of varying sizes. Even small companies can improve customer service skills. Large organizations often need training programs specifically targeted to employee development and changing technologies. The Society for Human Resource Management says that offering training programs to employees helps the employee feel more engaged and committed to the … Continued
In a November 28, 2016 decision, a federal district court in Texas denied a preliminary injunction to block the Occupational Safety and Health Administration’s (OSHA) new rule, Improve Tracking of Workplace Injuries and Illnesses. This means that the antiretaliation provisions will take effect on December 1, 2016 and the electronic filing provision takes effect in … Continued
Virginia Voters Reject Right-to-Work Amendment to Constitution On November 8, 2016, Virginia voters rejected a proposal to further solidify the state’s right-to-work status by amending the state Constitution. Proposed Constitutional Amendment Question 1 asked voters “Should Article I of the Constitution of Virginia be amended to prohibit any agreement or combination between an employer and … Continued
As an increasing number of Baby Boomers retire and leave the workforce, millennials are positioned to take on more leadership roles in the business world. Millennials bring with them a unique and evolving knowledge of technology and innovative HR practices that differ greatly from their Baby Boomer predecessors. As managerial roles are transferred from the … Continued
So you’ve made the decision to learn more about long-term care insurance. That’s smart, as neither health insurance nor Medicare would pay for extended long-term care services in the event that you needed them in the future. Plus, there’s about a 70% chance you’ll need some type of long-term care after age 65, according to … Continued
The U.S. Presidential race win by Donald Trump will impact labor, employment, and HR professionals in the key issues of immigration, paid leave, tax reform, and health care. Significant Shift in Immigration Policy Trump has been vocal about his stance on immigration in regard to deportation and illegal immigration. He also seeks to strengthen U.S. … Continued
Millennials are currently the largest generation in the workforce, and statistics show they’re not going anywhere anytime soon. By 2020, millennials are projected to make up 50% of the workforce. As millennials continue to rise in numbers, companies are finding it harder to retain them in their current roles. A study conducted by Deloitte conveyed … Continued