Using a third-party to audit your benefit plans? DOL says beware

by Jared Bilski

Most employers rely on the services of a third-party to ensure their benefit plans are in compliance with the host of applicable state and federal regs. But a new report suggests one particular type of TPA just isn’t hacking it.


The recent DOL Employee Benefits Security Administration’s (EBSA) report,  “Assessing the Quality of Employee Benefit Plan Audits,” found that just 61% of audits conducted by Certified Public Accountants (CPAs) fully complied with professional auditing standards or had only minor deficiencies.

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What are new FLSA overtime regs likely to cost? New report assigns price tag

by Jared Bilski

Ever since President Obama issued an Executive Order to overhaul the FLSA’s overtime regs, HR pros everywhere have been wondering: How much is it going to cost employers? 
That’s a question Oxford Economics, a global analytics, forecasting and advisory firm, attempted to answer in a recent report.

Based on how much the feds bump up the minimum salary threshold to be overtime-exempt – currently set at $455 per week ($23,600 per year) – here’s what Oxford Economics estimates it’ll cost businesses:

• If the salary threshold increases to $610 per week ($31,700 per year), it’ll cost businesses $297 million nationwide.

• If the threshold rises to $808 per week ($42,000 per year), it’ll cost businesses $648 million.

• If the threshold climbs to a whopping $984 per week ($51,000), it’ll cost businesses $874 million.

While these numbers are staggering, they only represent administrative costs, not actual increases to workers’ take-home pay.

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Tip Tuesday: The magic number that helps your benefits program boost retention

by Jared Bilski

When it comes to benefits, the number of perks you offer employees is a very important metric.  

At least that’s what MetLife’s 13th annual U.S. Employee Benefit Trends Study discovered.

The MetLife study questioned more than 5,000 U.S. workers, with half of the respondents being
benefits managers.

Multiple benefits = great company

In a nutshell, benefits are a huge factor in workers’ happiness with their employer and their
willingness to recommend that employer as a “great place to work.”

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Feds’ latest Obamacare guidance answers key preventive coverage questions

by Jared Bilski

Pop quiz: How many of the 18 FDA-approved contraception methods is your plan required to cover under Obamacare’s preventive coverage regs?

Answer: All of them.

More specifically, plans must cover at least one version of all of the 18 contraception methods that are currently listed in the FDA Birth Control Guide.


That’s one of the key takeaways from the DOL’s recent FAQ on Obamacare’s preventive coverage requirements.

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Will Congress repeal health reform’s ‘Cadillac Tax’?

by Christian Schappel

We know what you’re thinking: This is just the latest attempt by Republicans to shoot holes in the Affordable Care Act. But it’s not; this bill’s backed by 71 co-sponsors, and only three of them are Republicans. 

It’s called the Middle Class Health Benefits Tax Repeal Act of 2015 (H.R. 2050), and it was introduced by Rep. Joe Courtney (D-CT).

The goal: Repeal the ACA’s “Cadillac Tax,” which is a 40% excise tax on health insurance plans costing more than $10,200 for individual coverage and $27,000 for family coverage.

The tax takes effect in 2018, after having already been pushed back from its initial start date of 2013 — and therein lie one of the problems.

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Chronic tardiness covered under the ADA? Hey, it could happen

by Tim Gould

You know that one irritating guy who’s late for everything? He could be asking for an ADA accommodation soon.  

According to a story from London’s Daily Mail, a man who has been late for everything in his life — from funerals to first dates — recently had his chronic tardiness diagnosed as a medical condition.

His penchant for lateness was diagnosed as a symptom of his Attention-Deficit Hyperactivity Disorder (ADHD) at a hospital in Dundee, Scotland.

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Tip Tuesday! 5 steps to more joy

By W.H. Auden

What's your joyful noise? A whisper of gratitude for a stunning sunset? A belly laugh at a child's sweet silliness? A "Yes!" for a challenge mastered? 

No matter how you express it, you deserve and need joy in your life. And whatever its source — from a drowsy pup on your lap to a parchment diploma in your hand — it doesn't just feel fabulous. Blissful moments can also give your well-being a boost.

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