The Affordable Care Act requirement that employers with over 50 employees offer health insurance or face penalties has been delayed by one year.
In a surprising move yesterday, the Obama Administration announced on the U.S. Department of the Treasury’s website that it is delaying the implementation of the Affordable Care Act’s (ACA) employer responsibility provision.
Now, employers will not have to worry about compliance with the provision, which is also commonly referred to as the “play or pay” provision, until 2015.
Continue reading “Key Provision of Affordable Care Act delayed”
THE COST OF EMPLOYEE HEALTH BENEFITS & EMPLOYEE HEALTH BENEFITS SELECTION
Employee benefits and annual enrollment may not be the glamorous part of human resources, but they are essential to retaining employees. Paycom has put together a great infographic representation below (or you can view here). Some of the statistics are surprising.
- For those that implement annual enrollment, HR professionals admit that planning and executing a successful campaign takes up 50% of their time at work.
- And while HR professionals are deeply immersed in annual enrollment, our employees are not. Sixty-five percent of employees admit that they are not prepared for making their employment benefit selections.
- Bad decisions are costly for employees which is why employees must be communicated about employer benefit coverage changes and offerings over and over and over again. Employees on average waste $750 a year of their salary on benefit selection errors.
Infographic after the jump… Continue reading “$750 a Year Wasted In Benefit Errors [Infographic]”