Blog Tag: Group Benefits
Health Savings Accounts (HSAs) were created to help people with high deductible health plans (HDHPs) pay out-of-pocket costs. Contributions to an HSA are pre-tax and can cover any qualifying medical expenses. But if you’re approaching age 65, you may have some questions about your HSA and Medicare. You are likely wondering, “Can I use both?”
Executive compensation plans can attract and retain great leaders, drive individual and business performance and reward results. Therefore, company directors, compensation committees and HR leaders need to invest time and energy to develop their plans. A successful plan should keep top talent in key positons, motivate performance and remain fiscally responsible. While designing an effective plan does require effort, the payoff is worth it. We’d like to outline some general steps you can take to start the process.
On Tuesday, September 24, 2019, the Department of Labor issued a final rule regarding overtime pay under the Fair Labor Standards Act (FLSA). Under the new rule, which will be effective January 1, 2020, any employee who makes less than $684 per week ($35,568 per year) will automatically be eligible to earn overtime pay.
Attracting and retaining good employees in today’s tight labor market can be a challenge. While competitive pay and good benefits are important, job seekers want the total package. They are looking for the ideal work environment – which includes work-life effectiveness. Total rewards strategies have traditionally focused on compensation and benefits, but it’s time for a change. Employees have expressed a desire for a healthy balance between their professional and personal lives, and that’s only possible through you – their employer.
Portions of the U.S. Department of Labor’s (DOL) Final Rule regarding Association Health Plans (AHPs) went into effect on January 1, 2019. It expands the availability of AHPs, allowing small businesses to band together and negotiate better deals when buying insurance for their members by broadening the definition of “employer.” States are reacting in extremely different ways. Learn more here.
Each year Omaha Magazine gives companies a chance to vote on other area organizations in the Best of Business-to-Business (B2B) contest. It’s an opportunity to showcase some of the top performing companies in Omaha. SilverStone Group is honored to receive the 2019 award for Best Employee Benefit Company. It's our 11th year in a row and this recognition is particularly meaningful, as it comes from our clients and colleagues. We appreciate all who took the time to cast their votes and recognize our team.
A company’s success often relies on its key employees. If one of them should abruptly pass away, the company’s future could be in jeopardy. Smaller businesses are particularly vulnerable, as they often depend on a few key people whose knowledge and skills are essential to the company’s operation. According to a survey of small businesses by the National Association of Insurance Commissioners, 71% of firms said they were very dependent on one or two key people for their success. However, only 22% of respondents had key person insurance.¹
More than 10,000 Baby Boomers turn 65 each day. This means a new person is eligible for Medicare benefits every eight seconds. But many who reach this milestone need help determining their best Medicare options. Further complicating the matter is that many people continue to work past the age of 65. Understanding Medicare can help employees make the right decision based on their particular needs. Let’s start by covering some of the basics.
Today’s workforce is competitive. Employers in every industry are searching for ways to attract, engage and retain talented people. With increased job skill specialization, it has never been
more difficult to expand a company's workforce.