Benefit and HR News Briefs

Create supervisor training materials with employee benefit services

  

  

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Create supervisor training materials with employee benefit services

Managers face a wide range of challenges and responsibilities as they walk a fine line between employee and business needs. Many industries create management training materials to give new supervisors the opportunity to be successful immediately, but developing the tools can be challenging. Using employee benefit consultants can serve supervisors in any organization as the specialists offer expertise into producing training guides.

Supervisors must avoid rookie mistakes as they make the transition to management, and introductory tutorials could provide insight into the challenges they may face. The materials can include company overviews, staffing statistics and common scenarios to help managers understand their responsibilities. No training materials are perfect, but they can guide novice supervisors as they become more comfortable in their roles.

Introductory guides can benefit employees as well. Effective supervisors may better understand how to serve staff members to help them remain productive. In addition, efficient managers can offer strong leadership to promote employees' personal and professional growth.

Developing supervisor training guides involves focusing on mangers' role and responsibilities. Employee benefit consulting provides services that can help mold supervisors into leaders. The consultants offer tools and experience to give companies the chance to craft training manuals to help managers in their daily work.

CLASS Act repealed by House

  

  

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Based on those findings, the program was essentially abandoned. Now, lawmakers in the House have voted to repeal the program, although some disagreed with the move, saying they would prefer to find a way to fix the program, rather than eliminate it, according to The Hill. The Senate may not take up the issue.

The U.S. House of Representatives recently repealed the CLASS Act, a long-term care insurance program that some legislators say was an obstacle to reform.

The program was evaluated by the Department of Health and Human Services, which determined implementing it would be problematic. Analysis suggested that it would require enrollment of a significant number of healthy Americans to remain fiscally stable, which the government could not guarantee. As a result, projections showed premiums could reach unreasonable levels, and the government would then be forced to either abandon the program or support it with external funding.

Based on those findings, the program was essentially abandoned. Now, lawmakers in the House have voted to repeal the program, although some disagreed with the move, saying they would prefer to find a way to fix the program, rather than eliminate it, according to The Hill. The Senate may not take up the issue.

Exploring alternatives, Louisiana Representative Charles Boustany mentioned that he and Massachusetts Rep. Richard Neal previously considered a bill that would allow consumers to buy long-term care insurance through employer-based employee benefits programs and flexible spending arrangements. It is unclear what alternatives are currently being examined by lawmakers, though some did suggest that eliminating the CLASS Act opens the way for stronger alternatives.

New rules on 401(k) plan compliance

  

  

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The Department of Labor's Employee Benefits Security Administration has issued a new final rule governing disclosures for 401(k) plans, which will impact employers in multiple ways when it goes into effect. Service providers will be required to disclose both their direct and indirect compensation and investment expense information.

The U.S. Departments of the Treasury and Labor are taking steps to make it easier for Americans to effectively save for their retirement.

The Department of Labor's Employee Benefits Security Administration has issued a new final rule governing disclosures for 401(k) plans, which will impact employers in multiple ways when it goes into effect. Service providers will be required to disclose both their direct and indirect compensation and investment expense information.

The agency also announced plans to release a rule mandating that they help plan fiduciaries to locate and organize the information they must disclose. For employers, that may mean less difficulty in understanding their 401(k) plans, and an easier time helping employees get the most out of them. Current laws and regulations require employers to educate 401(k) plan participants about their investment options and help them comparison shop.

Such plans can still be complex, however. Employers attempting to adjust to the new rule and other regulatory changes may find that employee benefits consulting services are helpful in ensuring HR compliance and running programs smoothly.

Service providers are required to be in compliance by July 1. Deadlines for employers to disclose fee and expense information to participants and provide the first monthly statement under the new regulations are August 30 and November 14, respectively.

Employee benefit consultants help workers manage prescription drug costs

  

  

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Employee benefit consultants help workers manage prescription drug costs

Prescription drugs can be expensive, but companies can use employee benefit services to provide workers cost-saving options. Not every health insurance covers the cost of prescription drugs, but consultants can work with employees to find solutions to fit their budgets.

Many employers offer insurance that may cover a portion of the cost of prescription drugs, but the medications may continue to be too expensive for workers operating on limited funds. However, options are available to help employees reduce their prescription drug costs.

Purchasing generic brands offers workers a simple way to reduce their medication expenses. Individuals can buy generic prescription drugs at a fraction of the cost of brand-name medicine. Be sure to consult a doctor before considering a change to generic medications. Medical professionals can explain the generic options available and may be able to provide additional ways to save money on prescriptions as well.

Businesses can hire consultants to explain employee benefits, including prescription drug coverage. The specialists can provide companies and their workers new insurance options that could cut medical expenses and new ways to save money.

Bank on benefit consulting for Money-Purchase Pension Plan information

  

  

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Bank on benefit consulting for Money-Purchase Pension Plan information

Employee benefit consultants provide a valuable addition to any organization, especially when it comes to offering information about pension plans. The specialists possess background and expertise, allowing them to help human resources managers make the best decisions possible on a variety of topics, including Money-Purchase Pension Plans (MPPPs).

Organizations may want to consider MPPPs because the program could prove mutually beneficial to employers and workers. Businesses fund the MPPPs to allow employees to raise money for their retirement. Employers are required to add money to the plan funds on behalf of participants, offering a percentage of the annual total on behalf of participants. The amount may vary depending on the number of participants and how much they contribute.

Workers take the majority of the responsibility as they must determine how much money to contribute. MPPPs may differ from employee to employee because individuals can choose any portion of their paycheck to contribute to the plan.

Companies can explore their MPPP options with employee benefit services designed to assist human resource managers. Hiring consultants allows supervisors to determine whether MPPPs is a viable option for their organization.

Employers step up worker education efforts

  

  

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Adapting to the new approach may require improved human resource software and management skills in order to keep track of training and reinforcement practices. Experts told HREO that employees are showing a willingness to take responsibility for their own development, which may make efforts more effective and improve their engagement with employers who provide education.

Research reveals that organizations are spending more on employee education and development, Human Resource Executive Online (HREO) reports.

A report from Bersin & Associates shows that employee development spending increased 9.5 percent in 2011, which researchers stated was due to employer efforts to compensate for a skill gap. The number of hours spent on learning per employee increased, and much of the additional effort was not focused on formal classroom training, the report indicates.

"L&D organizations have realized that these formal learning events must be reinforced to provide lasting benefits," the report states. "As a result, these organizations are focusing more on getting employees to internalize the knowledge and apply the skills through continuous, reinforced learning environments. These efforts include manager coaching, collaborative tools and experiential exercises."

Adapting to the new approach may require improved human resource software and management skills in order to keep track of training and reinforcement practices. Experts told HREO that employees are showing a willingness to take responsibility for their own development, which may make efforts more effective and improve their engagement with employers who provide education.

Consider dental health during American Heart Month

  

  

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Aside from preventing people from enjoying themselves or working effectively, cardiovascular disease also drives many of the healthcare costs in the nation, with lost productivity and hospitalizations from strokes and heart disease leading to $444 billion in healthcare expenses during 2010.

February is American Heart Month, and the Centers for Disease Control and Prevention (CDC) reminds Americans to consider their health.

Cardiovascular disease is the leading cause of death in the nation, according to the CDC, with heart disease and stroke leading to one out of every three deaths in the country. That amounts to 2,200 fatalities per day, according to the agency, and nonfatal cardiovascular health problems often cause disability that interferes with quality of life.

Aside from preventing people from enjoying themselves or working effectively, cardiovascular disease also drives many of the healthcare costs in the nation, with lost productivity and hospitalizations from strokes and heart disease leading to $444 billion in healthcare expenses during 2010.

One prominent dental insurance provider noted that research has linked gum disease to heart disease, stroke, diabetes and other health conditions. This can contribute to making existing conditions worse or increase care costs.

"Periodontal disease has the ability to seed bacteria into your blood stream and to lower your ability to fight chronic disease," said dental insurance executive James Bramson. "If your body is always fighting this type of low-grade infection, it's harder for it to fight the rest of the diseases that it may be faced with."

Workers with employer-based dental insurance employee benefits may find their long-term expenses are lower with strong oral health, particularly preventive care.

Manage accident insurance concerns with employee benefit consultants

  

  

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Manage accident insurance concerns with employee benefit consultants

Many businesses require employees to travel for events and conferences and may need to take steps to ensure employees' safety. Employee benefits such as Business Travel Accident (BTA) insurance grants workers valuable protection services for them and their families.

BTA insurance provides compensation for injuries or loss of life to an employee's family if the accident occurs while traveling for business. Planes, trains and automobiles provide employees transportation options to get where they need to go, but safety is not a guarantee. Accidents can occur at any time without notice. However, BTA insurance offers protection to compensate injured workers and their families.

Employees may add BTA insurance to their benefits coverage if they travel regularly. The insurance can supplement Accidental Death and Disbursement insurance, an allowance paid out if an employee loses his life, a limb or an eye due to a work accident. BTA insurance offers an additional payout, helping employees and their families get through difficult times.

Utilizing employee benefit services can help human resource managers review an organization's BTA insurance options. Consultants provide expert solutions and insights to assist employers with employee benefit administration.

Receive payroll assistance from employee benefit consultants

  

  

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Receive payroll assistance from employee benefit consultants

Some businesses must manage payroll for less than 20 employees, but figuring out the process can prove difficult. Employee benefit services can provide assistance, and give companies the tools and resources necessary to make sure employees receive their paychecks consistently.

Setting up a payroll system may appear challenging at first, but the U.S. Small Business Administration offers recommendations to simplify the process. Employers will need to acquire an Employee Identification Number, which allows companies to report taxes to the Internal Revenue Service (IRS). Employers should examine whether state or local ID numbers may be necessary for tax purposes, along with employee pay schedules to finalize payroll.

Businesses can utilize Automatic Data Processes Inc. (ADP) to handle their payroll needs. ADP serves approximately 570,000 companies worldwide, offering payroll management support to businesses of all sizes. Companies can hire consultants to teach them about ADP's RUN payroll system.

Learning the payroll process can be time consuming, leading many companies to employ human resource software specialists to develop a payroll system. Consultants possess experience and knowledge of ADP and other employee compensation options to help companies in a variety of industries.

Employees not taking advantage of vision benefits

  

  

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He also noted that proper eyewear can correct, enhance and protect vision, and that comprehensive eye care can detect not only costly eye diseases but also whole body conditions such as hypertension and diabetes.

Workers with vision coverage may not be using their employee benefits, a survey by Transitions Optical indicates, despite the aging of the national workforce and high interest expressed in vision coverage.

The survey revealed that baby boomers were 79 percent likely to enroll in vision benefit programs, BLR reports, compared to 75 percent likelihood that younger workers would enroll. Despite these rates, however, 34 percent of boomers and almost a quarter of older workers who enrolled did not use their benefits for comprehensive eye exams afterward.

This may increase the risk of age-related vision problems, eye diseases and chronic conditions, the news source notes, since employees are missing out on preventive care that could detect and manage such issues before they grow in severity or become permanent.

"A quality vision benefit is important for everyone, but especially for employees ages 45 and older, who are more likely to experience vision problems that hurt job performance," said Transitions Optical managed vision care director Pat Huot.

He also noted that proper eyewear can correct, enhance and protect vision, and that comprehensive eye care can detect not only costly eye diseases but also whole body conditions such as hypertension and diabetes.

Executives and managers in charge of employee benefit plan administration may wish to spend more time and effort encouraging employees to pursue these preventive measures, particularly since vision problems may negatively impact eye health and productivity. Later treatment is also typically more expensive than prevention, according to experts.