Page 5 - Sam Slade News Today

PHOTO: File Many of us saw the news last month about executive compensation at Blue Cross Blue Shield of RI (BCBSRI). The former CEO Kim Keck earned over $2 million in her last year at the helm. The reporting I saw linked the executive compensation and a BCBSRI decision (since changed) to end preferred coverage for COVID-19 in a way that implied the compensation was excessive. I want to offer a different perspective. In full disclosure, I worked at BCBSRI for four years and had an opportunity t...

Sam Slade, Hilb New England The Equal Employment Opportunity Commission (EEOC) made the long-awaited announcement that this year’s EEO-1 collection would open on April 26, 2021, and close on July 19, 2021. Employers with at least 100 employees, and federal contractors with at least 50 employees, are obligated to file the EEO-1. 2019 & 2020 EEO-1 Reporting Period Opens on April 26, 2021 After delaying the opening of the 2019 EEO-1 due to COVID-19, the 2019 as well as 2020 EEO-1 Component 1 D...

The U.S. Department of Labor has released eagerly-anticipated model notices and FAQ guidance in connection with the COBRA subsidy available under the American Rescue Plan Act of 2021 (ARPA).

Sam Slade Two recent pieces of pandemic relief legislation intended to provide employees with financial relief from the effects of COVID-19 offer employers additional flexibility to make changes to dependent care flexible spending accounts (FSA). Employers should decide whether and to what extent they wish to amend their plans to incorporate these changes and communicate the new options to employees quickly to allow employees to realize the greatest benefit. Changes Under the Consolidated Appr...

PHOTO: GoLocal Remember when working remotely was a perk meant to ease employee stress? And it worked. According to Gallup, those who telecommuted pre-pandemic experienced lower levels of burnout compared to those working on site. Yet with many employees forced to work from home full time now, the opposite is true. In fact, 69% of employees reported burnout symptoms while working from home during COVID-19. This higher rate is due to a combination of stress and financial anxiety caused by: An �...

Sam Slade of Hilb Most employers are required to post certain federal and state labor law posters in a conspicuous place to inform workers about their rights. But with so many employees working remotely right now, the Department of Labor (DOL) recently issued a bulletin to address when electronic posting may be sufficient. Following are the current posting requirements addressed in the bulletin and how they may be satisfied through electronic means (e.g., on an employee information internal or ...

PHOTO: File With the average cost of tuition and fees for a private college in 2020-21 now at $35,087 and average student loan debt nationally $36,510 per borrower, it’s no surprise that education benefits are an increasingly popular way for companies to appeal to workers. If you’re considering enhancing your benefits package to attract and retain employees, here are three options to consider. Employer-Sponsored 529 Plan: You can offer a 529 savings plan for your employees that gives them t...

Monday, January 11, 2021   View Larger + With 4 in 10 insured adults reporting they’ve received a surprise medical bill, provisions in the recently passed economic relief package designed to protect patients from being billed for amounts their insurance company didn’t cover when using an out-of-network provider are a welcome relief to employees and employers alike. The law goes into effect in 2022 and, once it does, patients won’t be billed any more when using a non-network provider than...

Sam Slade of Hilb With calendar-year benefit plans starting January 1, the start of the New Year marks a good time to commit to optimizing your benefit program with 10 achievable goals.  1. Benchmark benefits, plans, and contributions: Rather than simply renewing your plans every year, be proactive and see how your offerings stack up and work towards implementing changes that will bring your benefits up to par. 2. Research competitors’ benefits: Part of your benchmarking effort should involv...