In the Loop – November
Report Shows More Employers Are Adapting Pay Transparency Practices
States and localities have been adding pay transparency requirements since 2021, with even more set to go into effect. Effective Oct. 1, 2024, Maryland employers must disclose certain wage range information in all public and internal job postings. Furthermore, Illinois, Vermont and Minnesota are adding pay transparency rules that will be implemented in 2025.
How, Where and When to Vote in Upcoming Elections
Election Day is Tuesday, Nov. 5, 2024. If you plan to vote, you must register to become a voter. Every state requires this except North Dakota. Some states allow you to register on the day you vote; others may require advance registration.
Benefits and Me: Maximizing Your Open Enrollment (November)
Did you know that nearly 7 in 10 employees spend 30 minutes or fewer reviewing their open enrollment benefits options?
Unfortunately, that’s far less than most Americans’ daily social media time. Open enrollment is crucial for making informed decisions about your health care and benefits. To maximize this period, start by thoroughly reviewing all available plan options and understanding the specifics. This includes examining coverage details, costs and any changes from the previous year. It’s also important to consider your current and anticipated health care needs by reflecting on any health changes, upcoming medical procedures and new medications. Furthermore, utilize available resources such as plan comparison tools,informational webinars and consultations with benefits advisors. Dedicate time to research and ask questions so you can ensure that you select the plan that best meets your and your family’s needs.
HR Brief – OSHA Proposes Heat Injury and Illness Prevention Standard (November)
OSHA recently published a notice of proposed rulemaking in the Federal Register to protect workers from heat injury and illness. If finalized, the new standard would apply to all employers conducting indoor and outdoor work in all general industry,construction, maritime and agricultural sectors where OSHA has jurisdiction, subject to limited exceptions. The proposed rule would be the first federal regulation specifically focused on protecting workers from extreme heat.
Mental Health Minute (November)
Practicing Gratitude
In today’s fast-paced world, it’s easy to get caught up in stress and negativity. However, practicing gratitude can be a powerful tool to improve mental health. Gratitude involves recognizing and appreciating life’s positive aspects, which can reduce stress, anxiety and depression. By focusing on what you have rather than what you lack, gratitude helps shift your mindset to a more positive and resilient state.
Prioritizing Your Emotional Wellbeing During the Holidays
While the holiday season and end-of-year parties can be full of festive fun, they can also be stressful and take a toll on your emotional well-being. Putting your emotional wellness on the backburner may cause mood changes and feelings of irritability, hopelessness and isolation.
American Diabetes Month (November)
November is National Diabetes Month. With 1 in 5 adults not knowing that they are impacted directly by diabetes, it’s essential to understand the risk factors and symptoms.
Benefits Buzz – Final Forms and Instructions for 2024 ACA Reporting Now Available
The IRS has released final 2024 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056.
No major changes were made to the final forms and instructions for 2024 reporting. As a reminder, the electronic filing threshold for returns required to be filed on or after Jan. 1, 2024, is 10 or more returns (originally, the threshold was 250 or more returns). This requirement applies in the aggregate to certain information returns. Accordingly, a reporting entity may be required to file fewer than 10 of the applicable Form 1094 and 1095 but still have an electronic filing obligation based on other kinds of information returns filed (e.g., Forms W-2 and 1099).
Live Well, Work Well – Fall Into Mindfulness (November)
The changing seasons can help you prioritize your physical, emotional and mental health by presenting the opportunity to start new routines or cut out unhealthy habits. Autumn is a great time to embrace the concept of mindfulness, the practice of being fully present in the moment
Mindfulness can help people embrace seasonal transitions and make space for new experiences and personal growth.
View and download the latest Live Well, Work Well newsletter
Compliance Tracker – October
No key compliance deadlines for November 2024.
Year-end Compliance Reminders
As 2024 approaches its end, employers should review their compliance to ensure that all required activities will be completed by the end of the year. In addition, as the end of the year approaches,
employers should consider reminding employees what happens to unused funds in their health FSAs, dependent care FSAs and HRAs at the end of the year and remind employees of the company’s policy for unused PTO at the end of the year.
Benefits and Me: Flexible Spending Accounts (October)
A flexible spending account (FSA) is a beneficial tool for saving money on health care because it contains pre-tax dollars contributed each pay period to pay for qualified medical and dental expenses.
An important provision of an FSA is that most of the money contributed within a calendar year (and any applicable grace period) must be spent within the same year, or it will be lost. Toward the end of the year, it’s common for many people to rush to use up leftover funds in their FSAs while they still can. Many people stock up on over-the-counter (OTC) drugs; others may concentrate on using those funds for medical expenses they’ve been putting off. For example, you could schedule a teeth cleaning if you haven’t been to the dentist all year. If there is a screening or procedure you’ve been putting off, use FSA funds for that. The goal is to use that money to keep yourself healthy.
Client and Employee Resources
The more your employees understand your benefit plans the more they become educated, empowered consumers. The programs you provide will also gain an enhanced value.
As your strategic partners in employee benefits, we can provide multiple avenues of ongoing support, including:
- Employee Meetings (English and Spanish)
- Webcasts
- Payroll Stuffers
- Poster Campaigns
- Newsletters
Carrier Directories
E-Verify is a web-based system that allows enrolled employers to confirm the eligibility of their employees to work in the United States. Click the image below to begin.
