Insurance

37 ways to lower your health care costs

06/15/2010

Average employer-paid health benefit costs have increased about 6% per year for the last five years. At least in the short term, the new health care reform law may make the problem even worse. All the more reason to act now to get your health care costs under control. Here are 37 strategies worth trying.

DOL clarifies age for continuing coverage for employees’ adult children

06/14/2010

The U.S. Department of Labor has answered a seemingly simple question that vexed many Washington insiders for months: Under the new health care reform law, what is the age limit for employees’ adult children to be eligible for coverage under a parent’s group health plan?

IRS releases first round of guidance on new health care law

06/11/2010

Don’t panic if you’re not fully conversant on all the details of health care reform. The IRS, Department of Labor and other federal agencies will be rolling out regulations to put meat on the bones of this often-confusing law. The IRS last month published the first round of this avalanche of regulations. Find links to all IRS rules on the new health care law at www.IRS.gov.

Reform result: Brace for higher health costs

06/08/2010

Employers are bracing for health care costs to go up—not down—now that health care reform has become law, according to separate surveys conducted by Towers Watson and Mercer, two of the nation’s largest comp and benefits consulting firms.

Federal 4th Circuit: Let arbitrators arbitrate

05/28/2010

If a recent decision is any indication, the 4th Circuit Court of Appeals, which covers North Carolina employers, is willing to let arbitrators do their jobs.

Add new health insurance numbers to your W-2s

05/21/2010

Beginning in the 2011 tax year, employers will be required to report the “aggregate cost” of “applicable employer-sponsored coverage” on their employees’ W-2 forms.

IRS rolls out health care reform tax credit guidelines for small employers

05/18/2010

The Internal Revenue Service has issued preliminary guidelines on the tax credit available to small employers that provide health insurance benefits to employees. Be a team player — and save your organization some money — by passing this information along to the people down the hall who handle tax compliance matters.

Watch out when offering early retirement based on age

05/14/2010

The EEOC has won the first round of a battle against early-retirement incentive plans that are based strictly on age. If you have such a plan, make sure you review its legal status with your attorney.

Never consider insurance costs when terminating

05/14/2010

Every year, employers face yet another increase in their health insurance premiums. And if there are many older or sick employees, those costs will keep on rising. Even adding one sick child to the list can drive costs into the stratosphere. But before you even consider firing (or refusing to hire) someone because they might jack up insurance costs, count your dollars, not your pennies. You might be staring down a lawsuit that could dwarf whatever premium costs you hoped to avoid.

The HR I.Q. Test: May ’10

05/12/2010

Test your knowledge of recent trends in employment law, comp & benefits and other HR issues with our monthly mini-quiz …