Dec 12

“Insurance on Insurance”

An important part of building a comprehensive benefits platform for employees today. Voluntary insurance has been common for many years, but with rising out of pocket costs this will be used as a bridge more and more. Be sure to evaluate ancillary products your PEO provides and take advantage of those compliance resources. These are valuable benefits that improve your corporate benefits program especially in light of Colorado’s tight labor market.
For Cash-Strapped Workers, ‘Insurance on Insurance’

Companies are helping to cover out-of-pocket costs, and the insurance industry is offering so-called gap policies

Wanda Palmer, director of human resources at the Clemson Area Retirement Center in South Carolina, says she buys gap insurance to ‘provide peace of mind for my family and protection against future issues.’ ENLARGE
Wanda Palmer, director of human resources at the Clemson Area Retirement Center in South Carolina, says she buys gap insurance to ‘provide peace of mind for my family and protection against future issues.’ Photo: Maura Friedman for The Wall Street Journal

As health insurance deductibles rise, employers are offering workers special policies to help cover out-of-pocket costs.

For many workers, paying for health care has become such a difficult budgeting exercise that the insurance industry is marketing additional products to help. So-called gap insurance, also known as supplemental or voluntary insurance, provides extra coverage for things like hospital stays, unexpected accidents or treatment for acute illnesses such as cancer or heart disease. The policies help cover the cost of high deductibles or copays for treatment—the gap that employees face before their health insurance kicks in.

“It is kind of like insurance on insurance,” says Brian Akian, a senior account executive with insurer Colonial Life, which provides gap insurance and is a unit of Unum Group.

Apr 19

Retirement plans will cost small businesses more under new fiduciary rule, critics contend

Considering potential cost increases and the general challenges and fiduciary requirements when offering a retirement plan, small business should research and consider a MEP through a PEO.  You be able to achieve reduced fiduciary responsibility, increased flexibility in retirement plan offerings and have access to generally lower expense ratios on investment options…the situation is only becoming more complex and expense for small businesses.  There are alternatives…

“New rules requiring investment advisers to put their clients’ best interest ahead of their own will make retirement plans more expensive and harder to get for small businesses.

That’s the U.S. Chamber of Commerce’s initial take after reviewing the 1,100-page on Wednesday


“This is an area where DOL has appeared to make things substantially worse,” said , president and CEO of the chamber’s Center for Capital Market Competitiveness.”  by Kent Hoover


Dec 09

Colorado wage claims likely to be on the rise


Mar 18

Multiple employer plans grabbing more attention


Aug 27

ADA lawsuits just got bigger!

First ADA suit since AMA’s obesity policy: Is this the start of something big?

obesity as disease

Bet you saw this coming: On the heels of the American Medical Association (AMA) announcing its position that obesity qualifies as a disease, an employee in Missouri has filed suit accusing his employer of violating the Americans with Disabilities Act by firing him because of his weight.


Jan 24

Think twice before firing your staff for ripping you on Facebook.

Even if It Enrages Your Boss, Social Net Speech Is Protected

As Facebook and Twitter become as central to workplace conversation as the company cafeteria, federal regulators are ordering employers to scale back policies that limit what workers can say online.

Employers often seek to discourage comments that paint them in a negative light. Don’t discuss company matters publicly, a typical social media policy will say, and don’t disparage managers, co-workers or the company itself. Violations can be a firing offense.