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The Open Enrollment Conversation

The Open Enrollment Conversation

It’s the single most important benefits event of the year. But for some of your clients and their employees, it’s dreaded as much as a root canal. Why should Open Enrollment be such a challenge? After all, employee benefits make up a good portion of your clients’ total compensation packages. Your clients undoubtedly want to offer their employees high-quality benefits that they will value and effectively use. When you’re talking benefits plans with your clients, here are a few conversation starters to consider: With the unemployment rate currently sitting at 4.9%, hiring has become increasingly difficult. Have you thought about the impact this will have on your benefits strategy? Have you weighed the cost of your benefits plan against the costs of turnover, understaffing and potential overtime? Have you considered migrating toward a consumer-directed health plan strategies in advance of the 2020 Excise Tax? You can also reinforce that smart benefits enrollment and administration are the keys to a successful program. Ask them: Have you considered the importance of...

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ACA Best Practices: Learning from Year One of Annual Reporting and Looking to the Future

ACA Best Practices: Learning from Year One of Annual Reporting and Looking to the Future

Congratulations!! If you were an Applicable Large Employer (ALE) for tax year 2015, you have nearly made it through your first year of annual health care reporting. You’re likely close to issuing the new annual information return to each employee that was full-time for at least one month in 2015 (IRS Form 1095-C, Employer-Provided Health Insurance Offer and Coverage) and are in the process of communicating employee data to the IRS. For some of you, this may have been a smooth process. For others, there may have been some bumps along the way, which is to be expected for the first time through something as complex as Annual Health Care Reporting. Either way, now is the time to start proactively planning for next year—and equally as important, finding out what you need to be on the lookout for to ensure this annual process goes as uneventfully as possible. This Saint Patrick’s Day, don’t rely on luck to find out what you need to know on the latest updates to...

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2016 Tax Credits and Incentives Following Year-End Legislation

2016 Tax Credits and Incentives Following Year-End Legislation

U.S.-based businesses could have a major opportunity to benefit from tax credits following year-end legislation. The Omnibus Spending Bill H.R. 2029 and the PATH Act (Protecting Americans from Tax Hikes Act of 2015), signed into law at the end of 2015, include the extension of more than 50 tax credits and incentive programs that expired on Dec. 31, 2014. This includes an array of federal tax credits that offer incentives to employers who implement various hiring, training and investing practices. Work Opportunity Tax Credit (WOTC) – Extended for five years through 2019, WOTC is designed to encourage employers to hire and retain individuals from various target groups, including veterans of war, welfare recipients and the newly added “long-term unemployed” category, among others. Through this program, businesses can qualify for a tax credit of up to $9,600 per eligible employee for the first year of employment. Federal Empowerment Zone Employment Credit – Businesses that hire employees who live and work in an empowerment zone, which are designated distressed urban and...

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Top Concerns Keeping Midsized Business Owners Up at Night

Top Concerns Keeping Midsized Business Owners Up at Night

While the definition of a “midsized company” varies depending on who you speak to, one thing’s for sure: Midsized businesses clearly pull their weight when it comes to keeping the U.S. economy going. According to the Association for Corporate Growth, midsized businesses represent nearly 26.5% or 48 million of all U.S. jobs. That’s about one-third of private sector GDP. In order to gain insight into the pain points and concerns of these heroes of the U.S. economy, ADP recently conducted its fourth annual Midsized Business Owners Study. The survey of more than 700 business owners and executives at companies with 50-999 employers revealed some interesting takeaways. For the first time since the study’s inception, concern about overall government regulations surpassed those of the Affordable Care Act (ACA) and health care costs. While still the second and third most noted concern among those surveyed, ACA and health care concerns leveled off in the latest survey, allowing general worries over the amount of regulations to spike upwards since 2014. It’s clear...

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Thank You, Veterans!

Thank You, Veterans!

Every year, our nation sets aside Veterans Day, November 11, to honor all the men and women who have served our country. We celebrate Veterans from generations past. We welcome a new generation of Veterans home. And we thank our future Veterans, still serving at home and abroad. I am proud to work alongside the more than 850 Veterans who are part of the ADP family—men and women who have served in all branches of the military and in every major conflict since Vietnam. These inspiring men and women bring their collective talents, work ethic and purpose to the workplace and to the communities in which we live. For our troops serving around the world today, and those transitioning out of the military, we want to do our part to support them and their families. Let’s honor our Veterans by providing opportunities for them to contribute to ADP’s success so they can continue making a difference in the world. Let’s never forget the sacrifices made by our Veterans and their...

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