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Stable, Steady, and Single: The State of the Health Benefits Market

Stable, Steady, and Single: The State of the Health Benefits Market

What is the current state of the health benefits market? ADP’s Christopher Ryan, Vice President for Strategic Advisory Services, highlights the current state of the health benefits market according to ADP’s Annual Health Benefits Report. With the labor market transitioning to accommodate for the influx of millennial workers, the health benefits market is also coming to terms with these changes. Combined with broad changes to health benefits in recent years after the adoption of the Affordable Care Act (ACA), many employers have re-assessed their coverage plans. While many employees have opted into traditional coverage plans, many now look to health savings accounts (HSAs) as a solution. Overall, the data in this year’s report suggests that employer-provided health care plans in the large employer market are stable. Seventy-six percent of those eligible chose to purchase benefits in 2016, and employers are effectively adjusting to changes mandated by the ACA. To learn more, read: Stable, steady, and single: The state of the health benefits market Share this:Click to email (Opens in...

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Time Off, ACA Regulations and Your Small Business Clients

Time Off, ACA Regulations and Your Small Business Clients

John Haslinger, Vice President of Strategic Advisory Services recently caught up with Taija Sparkman, Assistant Editor of CPA Practice Advisor while they were both at the Midwest Accounting Show, in Chicago, IL on August 23. They discussed how the Affordable Care Act continues to be a challenge for many business owners and how, as a trusted advisor, accountants can help them better understand this complex regulation and its IRS reporting requirements. “There is a real opportunity for accountants to be more consultative in how they approach the ACA with their clients. ACA compliance is a huge burden for businesses with less than 200 employees and they may not have the same resources as larger corporations. By differentiating in services for small businesses and knowing who the key players are in the field, accounting professionals have a real opportunity to provide value-added service to their clients,” said Haslinger. To learn more, read: Time Off, ACA Regulations and Your Small Business Clients Share this:Click to email (Opens in new window)Click to...

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ACA Best Practices: Avoiding IRS Penalties – Why Acting Now Can Save You Penalty Dollars Later

ACA Best Practices: Avoiding IRS Penalties – Why Acting Now Can Save You Penalty Dollars Later

Your Forms 1095-C are likely filed and will now be used by the IRS to assess penalties for failing to comply with the Employer Shared Responsibility mandate of the ACA. That’s one MAJOR penalty opportunity scratched off the list. But before you see that assessment, there is a trigger happening now that can alert you to a potential problem: a Marketplace Notice. Early intervention is key when it comes to Marketplace Notices. The sooner you respond, the better chance you have of minimizing their impact. When you receive a Marketplace Notice, it can be concerning – and rightly so knowing they can lead to paperwork and fines depending on the health coverage offered to your full-time employees. If you understand the implications of receiving a notice, you can be ready to handle the situation in the most efficient and cost-effective way possible. But first things first: do you know what this notice is? Will your locations know it if they receive one? And what should you do with it?...

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Celebrating National Payroll Week

Celebrating National Payroll Week

At ADP, payroll is nothing new – in fact, it’s something we’ve been helping clients with for over 60 years. And as ADP has evolved, so has the world of payroll. As National Payroll Week comes to a close, it’s a good time to reflect on these changes and see how payroll has become a cornerstone of Human Capital Management (HCM). Hiring your First Employee? Step One: Learn Payroll The truth is most business owners have to do payroll – and unlike ADP, they certainly didn’t go into business because they wanted to do payroll. Increasingly though, getting payroll right is the same as doing good business – for example, wage garnishments represent a risk to employers if not done correctly. For small business owners, this can be a particularly difficult challenge. Visit our Thrive blog, Entrepreneurial Ventures: 3 Founders Tell Their Stories, for inspiration from business leaders on why they went into business. Step Two: Know Your Workforce The workforce is changing as well and while strategies such...

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Why Empowering End Users Is Good For Business

Why Empowering End Users Is Good For Business

By Scott Groenendal, ADP Senior Director of Product Marketing You might think that linking user experience to the success of your business is a leap. I beg to differ. When employees are empowered with self-service HR tools and a customized user experience, they save time, are more engaged and become more productive. Think about it. What do your employees care about? They want the power to manage their careers, schedule time off, access their payroll information, and easily make benefits selections without depending on someone else to answer their HR questions. They want self-service tools that enable them to take action on their own. This is especially true for employees of multinational corporations. How frustrating would it be to have to call an HR help desk or call center where you may experience time zone, language and other cultural barriers that make it even harder to get your HR questions answered? Today’s global workforce doesn’t want to deal with an intermediary to get answers. They want interactive and visually...

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