Your Monthly
Newsletter from Integrated Benefit Solutions
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May 2021
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American Rescue Plan Act Employment-related
Provisions
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President Joe Biden signed the American
Rescue Plan Act of 2021 (ARPA) into law on March 11, 2021.
The law generally provides financial relief for individuals,
state and local governments, schools, businesses and for other
purposes.
In addition, the law contains the following measures of special
interest to employers and their employees:
- A
subsidy for COBRA premiums, funded through employer tax credits
- Extension
of employer tax credits for FFCRA employee leave voluntarily
provided through Sept. 30, 2021
- Expansion
of employee earnings eligible for the FFCRA tax credit
- Inclusion
of testing and immunization as reasons for FFCRA leave
- Extension
of $300 increase in weekly unemployment benefits
- Extension
of weekly unemployment benefits for workers who otherwise
wouldn’t qualify for these benefits
- Expansion
of subsidy for ACA premiums
- Increase
in DCAP contribution limits
- Extension
and expansion of the employee retention tax credit
Employers should review the ARPA’s provisions to
identify any requirements and opportunities that apply to them.
Employers should also watch for official guidance on the
implementation of the law.
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The Current State of Consumer Driven Health Plans
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Health care consumerism has always been about
empowering individuals to select more cost-effective, appropriate
care. This thesis is the backbone of consumer driven health plans
(CDHPs), which aim to make employees active participants in their
health care.
A CDHP is simply the combination of a high deductible health plan
(HDHP) and a health care account. Since HDHPs have low premiums
but high deductibles (i.e., employees must cover a significant
portion of incurred health costs), health care accounts are often
used to offset these expenses.
CDHPs can be an excellent way for employers to control health
care spending, too. In fact, CDHPs are often more effective than
traditional health plans at reducing total medical costs. For
example, short-term cost savings increased by 20% for employers
during their first year of switching to a CDHP, according to a
Cigna report. That’s because CDHPs share
much of their costs with employees, rather than relying primarily
on the employer. Even employers that contribute to employee
health accounts can choose how much to do so, providing even more
spending control.
Beyond monetary advantages, CDHPs also help improve employee
satisfaction with their health coverage. Reach out today to learn
more about how CDHPs can benefit your organization.
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4 Virtual Recruitment Strategies
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During the COVID-19 pandemic, many recruiting
budgets have been slashed, and employers are struggling to find
talent. However, virtual recruitment can help HR teams address
talent shortages.
Virtual recruitment is the process of pursuing, vetting and hiring candidates electronically.
Here are four strategies:
1. Host
Virtual Career Fairs
Hosting a virtual career fair allows interested parties to learn
more about a company—much like in-person career fairs. Topics
typically include a discussion of career opportunities and help
inform potential recruits about the workplace.
2.
Strengthen Your Online Presence
Any organization looking to recruit virtually must have a strong
online presence. This includes maintaining multiple social media
profiles, posting content regularly and interacting with
followers. Having an attractive social media presence will help
encourage candidates to follow and like the content the company
posts. In turn, this provides a steady stream of passive
recruiting leads.
3. Broaden
Your Search
Some employers are allowing workers to remain remote
indefinitely. If a position has no in-person work requirements,
employers can consider expanding talent searches to a more
geographically distant candidate pool.
4. Invest in
Quality Audiovisual Equipment
Appearance matters in interviews to all parties involved, and
this equally applies to virtual interviews. When speaking to
candidates virtually, using a quality camera and microphone will
say a lot about an organization’s investment in employees.
Employer
Takeaway
Virtual recruiting takes investment, but it can be well worth the
effort when done correctly. Contact us today to learn more.
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Sick Workers Should Stay Home
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When sick employees come to work, they can potentially
spread their illness throughout the office. Learn why sick
workers should stay home, especially during the COVID-19
pandemic, by watching the video below.
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