What Is a Qualifying Life Event?
PeopleKeep
NOVEMBER 21, 2019
When the Affordable Care Act went into effect, it guaranteed that everyone who applied for individual health insurance would be approved for and enrolled in coverage.
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The Two Sides of Retirement: Financial and Non-Financial
Money Talk
APRIL 7, 2022
One webinar sponsored by The American College of Financial Services covered financial topics such as income taxes, required minimum distributions (RMDs), qualified charitable distributions (QCDs), and income-related monthly adjusted amount (IRMAA) Medicare premium surcharges. Taxpayers must be age 70½ to qualify for a QCD.
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Three Words That Irk Me and Why
Money Talk
MAY 18, 2023
Many of these “still” phrases are a result of social clocks; i.e., norms governing the ages at which particular life events are “supposed to” occur. Just” can also reveal a lack of confidence when used as a hedging qualifier. What words get under your skin and why? Unlike 99% of my Money Talk posts, this one is different.
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Useful Information from Recent Webinars- Part 3
Money Talk
JULY 6, 2023
Below are seven more information tidbits in my final installment: Back-Door IRAs- This is where people who earn too much income to qualify for a Roth IRA contribution put money into a non-deductible traditional IRA because there are no income limits for non-deductible traditional IRAs. Start with “What can I help you with?”
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Financial tips for your LGBTQ+ community
Employee Benefits
DECEMBER 22, 2023
This means your realtor can’t refuse to show you a home or an underwriter for your mortgage cannot deny your application that would otherwise qualify based on creditworthiness simply because you identify as LGBTQ. You can both use the same health insurance, and your marriage counts as a qualifying life event to make changes to your plan.
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Do Your Employees Understand Qualifying Life Events?
Benefit Resource Inc.
FEBRUARY 1, 2022
More seasoned employees may be aware of what qualifying events are and the impact they have on pre-tax elections, but newer employees may not be as familiar with the changes involved. We all understand that getting married or divorced, having a baby, and changing jobs are qualifying life events. Turning 26.
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Voluntary benefits: A guide for your first-time enrollees
WEX Inc.
OCTOBER 5, 2023
What are some examples of voluntary benefits? Here are some prime examples: Supplemental life insurance : This benefit allows you to bolster your life insurance coverage, ensuring your loved ones are well taken care of in case of the unexpected. What are some of the perks of these benefits?
What Are the Deadlines for Open Enrollment 2024?
Best Money Moves
SEPTEMBER 6, 2023
What are the deadlines for Open Enrollment 2024? What are the deadlines for Open Enrollment 2024? November 1, 2023, through January 31, 2024 Special enrollment periods for Open Enrollment 2024 Outside of the deadlines listed above, there are qualifying life events that allow people to qualify for special enrollment periods.
What is a special enrollment period?
PeopleKeep
SEPTEMBER 7, 2021
However, what if you need to sign up for health insurance during other parts of the year, like when you lose employer-sponsored coverage, age out of a parent’s plan, or move to a new state? This time period is known as “open enrollment,” and keeps people from signing up for an insurance plan only when they get sick or injured.
Ten Tax Planning Tips for 2022
Money Talk
MAY 18, 2022
To err on the side of caution in the event of an audit, experts advise keeping tax records for at least six years. ¨ Saving even 1% more of pay can make a difference in later life. There are online calculators like this one than can show you what you could save. To do this, file a new W-4 form or make larger estimated payments.
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What You Need to Know About a Qualifying Life Event
Patriot Software
SEPTEMBER 29, 2022
Although this open enrollment period takes place at the end of each year for all employees, an employee can add or remove coverage at any time of the year if they have a qualifying life event. What is […] READ MORE.
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5 Myths About Pre-tax Benefit Accounts
Benefit Resource Inc.
JANUARY 25, 2024
This “fuzzy” factor is what sometimes leads to myths and misconceptions about how each of the accounts work. HSA COVERAGE Myth: A Health Savings Account (HSA) only covers individuals covered by the qualified health plan. But, more often, we are all a little fuzzy on the details.
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Delaware Leads the Pack in Leisure Time
HR Digest
JANUARY 20, 2024
Instead, they’ve embraced a slower, more intentional way of life, one that prioritizes happiness and fulfillment over endless hours of toil. It’s a state where life isn’t just about work ; it’s about living. So, what’s the secret to Delaware’s success? Quite the contrary.
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What does a benefits package for seasonal workers look like?
Employee Benefits
APRIL 10, 2024
Introducing seasonal workers to permanent employees and including them in recognition schemes and social events will help them feel part of the team. This also makes it easier to determine what they would value from their employment.” Laws of attraction Understanding the type of person required is key to seasonal recruitment success.
The Ultimate Guide to Recruitment Marketing
HR Lineup
FEBRUARY 12, 2024
What is Recruitment Marketing? It involves leveraging various marketing channels and techniques to build awareness, attract qualified candidates, and engage with them throughout the recruitment journey. It encompasses factors such as company culture, career development opportunities, benefits, and work-life balance.
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The Pregnant Workers Fairness Act: A New Era for Expectant Employees Arrived on June 27
HR Digest
JULY 1, 2023
Background: The Long Road to PWFA The journey to the PWFA has been a long one, with pregnant workers bearing the dual burden of nurturing a new life while striving to keep their jobs for decades. Accommodations: What’s Reasonable? So, what exactly does “reasonable accommodation” mean under the PWFA?
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Celebrate National Parents Day by Utilizing Your Dependent Care FSA
Benefit Resource Inc.
JULY 27, 2023
Thankfully, many companies offer a Dependent Care Flexible Spending Account (DC FSA) to make life a little easier for parents. What is Dependent Care FSA and How Does it Work? What is Dependent Care FSA and How Does it Work? First, it’s crucial to understand what a Dependent Care FSA is and how it can benefit you.
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What You Need to Know About Qualifying Life Events | BerniePortal
BerniePortal
JUNE 5, 2020
While open enrollment is a once-per-year period, qualifying life events can take place for employees at any point on the calendar. Discover all you need to know about qualifying life events, including what they are, when they take place, and how you can stay on top of benefits administration , no matter the time of the year.
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ADA can require reasonable accommodations for anxiety, in some cases
Business Management Daily
MAY 24, 2023
While it’s normal to experience a little anxiety over major events like weddings and job interviews — those with serious anxiety disorders experience intense fear, panic attacks, and elevated stress levels over everyday events. Social anxiety involves worrying about social events. Panic disorder. Specific phobias. Agoraphobia.
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Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll
InterWest Insurance Services
AUGUST 30, 2022
And under the Affordable Care Act, employers with more than 50 full-time equivalent workers don’t have a choice: They must offer a qualified health plan to their employees working over 30 hours per week. Life insurance. Find out what they want. ‘Must-have’ benefits. Dental insurance. Vision care. Pet insurance.
Do you need to make benefit changes because of COVID-19?
Benefit Resource Inc.
APRIL 1, 2020
The only reason an employee can change their election is if there is a qualifying event. What’s a qualifying event? For Dependent Care FSAs, a change in cost of care counts as a life event. What does this mean for employees? What changes are most important? Why this matters now.
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How Do You Recruit Top Talent On A Small Budget?
HR Lineup
JANUARY 30, 2024
Develop a clear and compelling narrative that communicates what makes your company a great place to work. Networking events, both virtual and in-person, can also provide opportunities to connect with potential candidates. This can be an attractive proposition for top talent seeking a better work-life balance.
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What to consider before choosing open enrollment dates
Business Management Daily
SEPTEMBER 29, 2021
The marketplace operates by providing tax credits to subsidize the health insurance premiums of qualifying individuals and families based on their household income. If the provider deadlines are missed, late enrollment may not be allowed without a qualifying life event. When is open enrollment for Employees?
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17 Items That Need To Be Included In Your Employee Handbook
Genesis HR Solutions
JANUARY 24, 2023
So what should be included in an employee handbook? Overtime Use this section to clarify your company’s position on overtime pay for employees who qualify. Just how important is an employee handbook? It wouldn’t be an exaggeration to say that, actual employees aside, it may be the most important part of your organization.
Zen and the Art of Trial
Florida Workers' Comp
NOVEMBER 12, 2023
I have enjoyed a diverse and engaging work life over the eons. I struggle with identifying what. How prone are we to ignore what is going on, to ignore what might inform and improve? It is persistently refreshing to be back at in-person events. I did 10 live events in 2023, and perhaps as many virtual ones.
What Are the Deadlines for Open Enrollment 2022?
Best Money Moves
SEPTEMBER 7, 2021
What Are the Deadlines for Open Enrollment 2022? Open enrollment for Medicaid and the Children’s Health Insurance Program (CHIP) is year-round for those who qualify. . Qualifying Events. The post What Are the Deadlines for Open Enrollment 2022? Open enrollment for 2022 is just around the corner. Native Americans.
Legal Obligations and Beyond: An Employer’s Guide to UK Benefits
Employee Benefits
AUGUST 8, 2023
All qualifying employees should be registered in your pension scheme. A qualifying staff member is defined as: Earning more than £10,000 annually Aged between 22 and the State pension age Primarily working in the UK (this includes those traveling abroad for work) Employees wishing to not participate must actively opt out.
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The pros and cons of term life insurance vs. permanent life insurance
Higginbotham
MAY 24, 2023
One of the first and most important responsibilities embraced by every breadwinner is life insurance. Should they lose your support, life insurance will immediately pay your beneficiary the cash value of the life insurance policy, with no taxes owed, providing a lifeline to resolve debts and pay living expenses.
What Is a Strong Company Culture? One That Is Built on Trust and Respect
HR Digest
NOVEMBER 21, 2023
Having a lively company culture is exciting and working with a serious company culture means good business, but what is a strong company culture? Understanding what a strong company culture is and creating a positive work environment is necessary for any company’s long-term success. Once you answer “What is a strong company culture?”
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10 lesser-known types of employee leave to consider
Insperity
NOVEMBER 21, 2023
But what about the more atypical, lesser-known types of leave you may not be aware of? For example: Activities and special events Holiday parties Lunches with children Performances Parent-teacher conferences Meetings 2. Employee leaves are typically a coveted part of any company benefits package. Uncommon types of employee leave 1.
Anxiety as a Workplace Disability: Understanding the ADA and Reasonable Accommodations
HR Digest
MAY 11, 2023
What is Anxiety? For those who have anxiety in a true sense, these feelings are not just nerves or anxiousness, but rather, an overwhelming feeling of alarm and even terror that can be provoked by basic day-to-day events or situations. A basic daily event can cause anxiousness for someone with a disability.
What is employer branding? How to build a great employer brand
Achievers
APRIL 4, 2022
Let’s take a closer look at what employer branding is and what your company can do to organically build an employer brand that sets it up for success. What is employer branding? This will expedite the interview and hiring process because you’ll have qualified talent to choose from right when a position opens up.
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2023 IRS Limits for HSA, FSA, 401k, HDHP, and More [Comprehensive Guide]
Griffin Benefits
NOVEMBER 1, 2022
What follows is a consolidated summary of the new IRS limits; Health Care FSA Limits Increase for 2023. These new limits also apply to limited-purpose FSAs which are used with HSAs to provide employees with tax-advantaged funds to pay for qualified dental and vision care services. Qualified Small Employer HRAs for 2022.
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NEIRA 2021: How to Win When Competing With 10+ Companies for Every Top Candidate
Hireology
NOVEMBER 9, 2021
Held in Chatham, MA, the event brought hospitality managers from all across the East Coast together for two days of education, networking, and celebrating life slowly returning to normal. While the event covered all kinds of trends in the hospitality space, hiring was top of mind for many of the folks we spoke with.
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Buyer’s guide to critical illness insurance
Employee Benefits
SEPTEMBER 20, 2023
Nothing in life is certain, and being diagnosed with a critical illness such as a heart attack or cancer is a reality that many individuals have to face. Having access to critical illness insurance cover provided by their employer helps to alleviate some of the financial worry in the event that they become too sick to work.
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The benefits of group life insurance for employers and employees
Higginbotham
JUNE 15, 2023
Group life insurance is a type of life insurance policy that covers an affiliated group of individuals, typically the employees of a company or the members of an organization, who can be covered under a single master contract. What is group life insurance? What is group life insurance?
6 reasons besides job loss you’re eligible for COBRA
Benefit Resource Inc.
JANUARY 22, 2019
There are two categories of events that qualify an individual to be eligible for COBRA. The first is an employee qualifying event. The second is a dependent qualifying event. Eligible for COBRA through an employee qualifying event. retirement (learn more in our Life Hacks blog).
16+ types of employee benefits you should consider
Genesis HR Solutions
SEPTEMBER 22, 2020
This list of benefits (and their definitions) can help; compare the 16 types we’ve listed here to what you currently have available, and see if you’re offering things prospective employees are really looking for. Here’s exactly what you need to do to retain them. Medical Insurance. Bankrate.com ). Onboarding new hires?
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Talent scarcity: Creative alternatives when job applicants are hard to find
Business Management Daily
NOVEMBER 21, 2023
Despite a somewhat hectic job market where many companies struggle to find qualified talent while others are experiencing large-scale layoffs, the general trend remains that good candidates are hard to find, and jobs are taking longer than expected to fill. 500 or $1,000). population. All help recipients balance career and family.
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Top tips to help new parents stay in control of their finances
Employee Benefits
JANUARY 19, 2023
As the cost of living crisis continues, it is now more important than ever that new parents understand how their finances will be affected and what actions they can take. Many companies offer enhanced maternity pay, so staff should speak to their employer to find out what is available. It is paid in the same way as their wages (e.g.
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How to manage negative employees and turn their behavior around
Business Management Daily
JANUARY 31, 2024
Dr. Seuss would be more qualified to treat an illness than the so-called professionals available on the company’s healthcare plan. The words have a negative impact going into the big event. What might lead to improvement? A private conversation also may reveal information about the individual’s personal life.
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Two Truths and a Lie, Pre-Tax Benefits Style
Benefit Resource Inc.
OCTOBER 23, 2018
You do not need to have a qualifying life event to change your HSA election. what happens to funds if they aren’t used. what money in the account can be used for. Now, for truth number two… HSAs and qualifying life events. What a relief. The Three Options. Take your time.
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Know Your Coverage Options: Group vs. Individual Health Insurance
Fringe Benefit Analysts
DECEMBER 12, 2022
What is group vs. individual health insurance? Policy holders pay into their insurance plan through what are called premiums, and as a result, they are guaranteed coverage based on their specific plans. In such cases, individuals may have to find their own health insurance outside of what their employer offers.
Know Your Coverage Options: Group vs. Individual Health Insurance
Fringe Benefit Analysts
DECEMBER 12, 2022
What is group vs. individual health insurance? Policy holders pay into their insurance plan through what are called premiums, and as a result, they are guaranteed coverage based on their specific plans. In such cases, individuals may have to find their own health insurance outside of what their employer offers.
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