The Affordable Care Act (ACA) is seeing a handful of changes this year. Some areas, like the automatic enrollment policy, were simplified for employers. Other line items will be tied to increased penalties. The good news is that there are fewer changes compared to previous years, so it’s easier to keep up with these shifts. Here are the top four to remember.
Did you know 98% of businesses in Colorado have less than 100 employees? In fact, according to the Small Business Administration of Colorado, 86% have less than 20 employees. Though small businesses are the bread and butter of our state’s economy, these small business owners often do not have the capacity to understand HR compliance policies and procedures. Here are the top challenges small business owners face in their HR administration.
Professional employer organizations (PEOs) operate as an extension of your business and are often referred to as a co-employment or joint employment. Professional employer organizations can execute all your HR responsibilities without the cost of hiring a full-time person. Below are some pros and cons to consider if you are thinking of hiring a PEO.
Health insurance plans can be intricate and often confusing to decide what is important for your plan. There are many options to cater to what you, the employer, would like to make available to your employees. There are 3 major categories to focus on when looking at health insurance plans:
Do you have employees that are salaried and making less than $50,000 per year? Are you sure they qualify for exempt status? Are you ready to pay them over 100% more when the FLSA changes go into effect later this year?