The DOL has said that plan fiduciaries must review if their plan expenses are "reasonable". First one must understand where all the plan expenses lie. What is revenue sharing and how does it affect my duties as a fiduciary to a retirement plan? Many Plan Sponsors use revenue sharing to pay some if not all of the plan's administrative costs. The term revenue sharing refers to payments made by investments to a third party. In Field Assistance Bulletin 2003-03, the DOL indicated that allocating plan expenses is a fiduciary decision and requires fiduciaries to act prudently. There are several methods of paying for the plan's administrative services.
Employers, governmental entities and even employees, brokers and consultants are all still after 4 years trying to understand the impact of HealthCare Reform on employee benefits. Defined Contribution Health benefit plans are again, and have been many times since 1978, being explored as a viable option. Why there is demand, who should be covered, and how it works with PPACA will be explored. Private and Public Exchanges and Cooperatives will be explained and recommendations as to what employers and their brokers can do for the rest of 2014 and 2015 will be made.
This presentation is designed to address the latest Benefit which is called a Defined Contribution Health which can be funded with Employer contributions to a FSA, HRA, or even to a HSA. We will look at whether there are limits as to funding levels and its impact on discrimination testing. We will also look at Private and Public Exchanges versus the growth of Cooperatives in each State and new voluntary benefits like Telemedicine and how it could work with Partial or Full Self-Funding will be addressed.
Questions and Answers will be addressed at the end of the presentation.
The employer mandate final regulations were released on February 10th and there were some significant changes that employers need to be aware of right now. The remainder of 2014 is the planning year and the decisions you make now with your workforce will have a financial impact on your health plan next year. We are going to help clarify and define the rules surrounding the “pay or play” requirements whereby employers will pay penalties if they don’t offer coverage, or coverage that meets the minimum requirements in 2015.
This presentation will address the following key components to help employers prepare now:
1. Who is subject to the employer mandate in 2015?
Hint: This was changed from the previous requirements and is revised with the February 10th update. Employers over 100 full-time equivalent employees needs to pay particular attention.
2. How do you measure your variable hour employees to determine if they are required to be offered coverage to avoid penalties in 2015?
3. What are the varying testing and measurement options to follow this year under the special transition rules?
4. What implications are there for contingent workers, meaning temporary employees or independent contractors?
5. How do I avoid any litigation pitfalls inherent with PPACA implementation?
6. What is my checklist and next steps to ensure my company is compliant with the requirements?
Rising medical and health insurance costs, Healthcare Reform’s intense focus on consumerism, and the diverse needs of a multi-generational workforce are creating a turbulent employee benefits environment. Voluntary products provide a safe haven, offering choice of expanded coverage options and meeting the unique needs of each employee at little or no cost to your organization. In this webinar, Corporate Synergies’ Voluntary Benefits Subject Matter Expert, Ciro J. Giué, will guide you through options that will help:
• control health and welfare benefit costs to your organization
• meet the unique insurance needs of your existing workforce
• help attract and retain quality job candidates
According to a recent study by Towers Watson, 33% of companies will increase their spending on HR technology in the coming year—with the bulk of this spending focused on HR & benefits portals, mobile tools, and manager self-service. But what if you didn’t have to spend more to get more?
Over the last 5 years, we’ve seen a remarkable shift in the benefits technology landscape (and its underlying business models), which has broken the stranglehold of traditional vendors and created a whole new set of options for HR managers and their teams. And, suddenly, “free HR & benefits software” is no longer a pipe dream.
This presentation will look at the latest trends in HR technology—and how companies can leverage these trends, for free, to make their employee benefits more efficient, engaging, and compliant.
This demo webcast is hosted by HR.com, however it is the Sponsors’ discretion (not HR.com) to deny/refuse attendance to any participant/competitor, as they see fit. HR.com is not responsible in any way for the sponsor’s decision.
This session will assist HR professionals navigate the world of mergers and acquisitions as they relate specifically to benefit plans and qualified retirement plans. This session will discuss timing issues, potential issues that can cause delays in closing, how to deal with those potential issues, and how to handle employee relations issues as they arise. For benefit plans, these issues may come from cafeteria plans and how FSA accounts should be/can be handled, COBRA responsibilities, and MEWA issues. For qualified retirement plans, there are notice and timing rules that must be followed as well as qualification issues that may be discovered during the due diligence process. This session is for every HR professional who handles the administration of their company benefit plans and qualified plans.
The health care insurance marketplace overview with a detailed look at the insurance companies typical cost components. These costs will be defined and quantified. What costs are fixed and variable? What is a captive pool? How a captive pool works to potentially control your health care costs and reduce the volatility of self funding.
For years, large companies have used alternative risk transfer strategies to reduce insurance costs, lower their risk profiles, and optimize tax savings. Thanks to captive management services and group captive programs, these benefits are now available to small and middle market companies, and groups and associations.
The purpose of this webinar would be to provide you, prior to the arrival of our friends from Washington, with more than adequate proactive protection from the possibilities of an audit not being concluded in your favor.
The safeguards offered would practically insure that you (and your Company and your Company’s qualified retirement plan will survive….intact….any audit you may undergo.
We will review, in specific detail, where this information regarding your plan, ranging from your plan’s Investment policy Statement (IPS) to the prompt processing of participant deferrals and from your Form 5500 data to meeting notes from your Investment Committee should be retained (and in what format).
This proactive protection will be provided to you from three different perspectives from three different professionals who have experience (and who have experienced) what we are trying to help you prepare for, proactively.
Dependent Eligibility Verification Audits are an increasingly integral part of health care cost containment, ERISA compliance, and PPACA "Pay or Play" analysis. On average, 4-8% of Dependents enrolled in company benefits are NOT eligible. This costs employers 10's of thousands, 100's of thousands - even millions of dollars annually. Time and Money are the most common objections to conducting an audit, along with fear of adverse employee reaction. This webinar explores Best Practices, mistakes to avoid, and the substantial ROI achieved from a comprehensive dependent audit.
Participants will learn what fraud in a benefits plan looks like, how prevalent fraud really is, and what type of savings they can generate for their company with an audit.
The Human Resources Certificate Institute (HRCI) sets HR professionals apart! HRCI certification demonstrates to peers and colleagues within the Human Resources profession that you are a recognized expert and have mastered the core HR principles. Earning an HR certification wreaks many benefits for both the employee and organization.
Employee Benefits: • Enhance your resume and candidacy. “One out of two recruiters prefer those (job applicants) with an HR certification” www.hrci.org.
• Certified professionals drive business through increased self- motivation, empowerment and confidence
• Stay competitive in the workforce and raise your value
• Network with HR professionals
Employer Benefits: • Uphold competitive advantage in the market place because of the mastery held by human capital
• Internal career advancement for certified staff which reduces hiring and onboarding costs
• Clients have more confidence in the results of certified staff
HRCI statistics record that the average pass rate of the PHR and SPHR exam is 59 and 57 percent, respectively. An academically aggressive and reliable means of preparing for these exams is now available to ensure you don’t fall within these statistics.
HR.com has partnered with the Human Resources Certification Preparation (HRCP) program to help prepare professionals prepare and pass their PHR or SPHR exam. This program, like no other, offers a 100% guarantee or your MONEY BACK!! Included in the HR.com prep course are:
• up to 30 hours of live online blended learning classes • 6 study manuals, each covering the body of knowledge as prescribed by HRCI
• Flash cards to test your knowledge
• 14 Online practice exams
A couple of well know exam preparation resources are available, however their correspondence based product has not proven to drive high turnover of successful pass rates. As you will see within this product demonstration, HR.com Exam Prep Course is proficient, reliable and intimate. The key ingredients to supporting fellow professionals get certified.