With companies running lean and mean, none can afford even one disengaged employee, say researchers
You’ve thrown an employee appreciation party. The job satisfaction numbers on the annual survey look decent. Is it time to check “improve employee engagement” off your list?
Not so fast! According to experts, job satisfaction isn’t the most important goal. An “attitude of commitment” to the mission is the key, particularly during tough times, says Kevin Groves, associate professor of organization theory and management at Pepperdine University. Companies should make things like action-learning projects (a group of people from different divisions are invited to work together and tackle a challenge) and job cross-training a part of the daily culture. “Whatever you can do to build networks and allow people to see beyond their silo to how their roles really matter to the company is valuable,” he says.
Marcie Pitt-Catsouphes, Ph.D., director of the Sloan Center on Aging & Work at Boston College and author of Engaging the 21st Century Multigenerational Workforce, agrees.[1] “With companies running lean and mean these days, they can’t afford to have even one employee show up who is not engaged. It can have a major impact on the business,” she says.
Workers who are emotionally engaged in a company’s mission are more likely to tackle tough problems and look for creative ways to expand the business. They contribute more to the bottom line, too: Significantly increasing engagement levels among employees can up their discretionary effort by more than 50 percent, according to research done by the Corporate Leadership Council.[2] In a Gallup study of nearly 8,000 business units across 21 industries, companies whose engagement scores rose into the top 25 percent achieved 7 percent higher productivity.[3]
But the benefits of engagement extend deeper. High engagement allows a company to weather difficult times without excess turnover. “We’ve found [higher engagement] adds to people’s resilience in getting through high-pressure times,” says Pitt-Catsouphes. In addition, engaged employees are healthier, and, over the long haul, less costly workers. “It’s the difference between people who cross the threshold totally wiped out at the end of the day and those who feel invigorated by what they do. Those are the people who are more willing and able to go the extra mile,” she says.
Here are some strategies experts recommend for boosting engagement:
Tailor engagement programs for different audiences. People want to be heard, but what they are asking for varies, Pitt-Catsouphes says. Gen Xers particularly value training and development through stretch assignments, while workplace flexibility makes women and Gen Y workers tick.
Abolish blanket reward systems. Nothing can drain engagement faster than a committed employee who receives the same acknowledgment for meeting a goal as the team’s weak link, says Groves.
Minimize “status” hierarchy. Southwest Airlines, software developer SAS and others foster engaging corporate cultures by having everyone eat in the same cafeteria, follow a similar dress code and park in the same lot. “Symbolic differences can carry a lot of weight. Feeling like ‘I can only communicate with people at my own level’ stymies communication and undermines the feeling that everyone’s commitment matters,” Groves says.
Invest in Wellness. Healthier people are more engaged, according to Pitt-Catsouphes’ findings. While it’s hard to untangle the cause from the effect (does engagement protect against stress, or is it easier to be engaged if you’re feeling well?), the finding underscores the notion that funding for a company gym or nurse hotline is money well spent.
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[1] http://www.metlife.com/assets/cao/mmi/publications/studies/mmi-engaging-21st-century-workforce-study.pdf
[2] Driving Performance Through Retention and Employee Engagement, http://www.usc.edu/programs/cwfl/pdf/Employee%20engagement.pdf
[3] http://www.gallup.com/poll/150383/Majority-American-Workers-Not-Engaged-Jobs.aspx
This article was featured in the December 2011 issue of Working Mother Research Institute’s email newsletter, Working Mother Research Institute Essentials. To read additional stories from that issue, see the related content section above. To subscribe to Working Mother Research Institute Essentials, register on the newsletter page of this website.
Wednesday, December 14, 2011
Wednesday, December 07, 2011
Flue Season and time for a shot, its simple and easy.
We are in the FLU SEASON and shots are available at most HMO Medical Groups, and at Walgreens as wellas other retailers. If you have a PPO check to see for coverage's and or use one of the low cost retailers. If you have Kaiser Health Plans you can click on the link below for there locations.
KAISER FLU SHOT LOCATIONS
KAISER FLU SHOT LOCATIONS
Thursday, December 01, 2011
What is a Tax Deferred Annuity?
A “tax-deferred” annuity is an annuity in which taxation of interest or other growth is deferred until it is actually paid. The contract owner contributes funds to the annuity in a lump sum or through annual payments to the annuity. The money is then allowed to grow for a period of time on a tax-deferred basis. At a future date the money is “annuitized”, and accumulated funds are paid out, generally through periodic payments made over either a specified period of time, or the life of an individual or the joint lives of a couple.
Annuities are used for many purposes in addition to providing lifetime income. They may be used to accumulate funds for some future event, e.g. education, a court settlement, or a lottery.
What are the tax advantages of an annuity calculator?
What is the future value of an annuity calculator?
Annuities are used for many purposes in addition to providing lifetime income. They may be used to accumulate funds for some future event, e.g. education, a court settlement, or a lottery.
What are the tax advantages of an annuity calculator?
What is the future value of an annuity calculator?
Eight Tips for Talking to Your Kids About Their Weight
Submitted by Timothy Boyer on 2011-12-01
Child Health and Safety Weight Loss Program News Analysis Talking to our children about drugs and sex (but never rock and roll because our tastes are just too out of the times with the current generation’s tastes) has added a new dimension lately—talking to your kids about their weight. Dr. David Katz, an expert on weight management, nutrition and disease warns us that today’s younger generation will not live as long or as healthfully as their parents. He believes that one of the ways to counter this trend is for parents to start talking to their children about weight management and healthy lifestyle choices.
Weight loss and children
The following are eight tips for talking to your kids about their weight printed in its entirety courtesy of Dr. Katz and MindStream Academy - a full-service boarding school for teens and tweens who want to get healthy, fit, lose weight, take control of their lives, build self-esteem, and pursue a personal passion.
1. Put the focus squarely on health and off weight. Whether by default or by design, each family has a health and wellness “culture.” This includes the types of food that are kept in the house, how heavily physical activity is emphasized, what sleep patterns are encouraged, how much health information is available, and more. As a parent, you should emphasize each aspect of this health culture, not just your child’s weight. Remember, healthy weight follows good lifestyle behaviors, but good lifestyle behaviors typically don’t follow weight-loss diets.
2. Recognize that you spend too much time focusing on weight. Most people don’t realize how much they use weight as a yardstick to measure their overall quality of life as well as their worth. For example, how many times have you asked about a piece of clothing, “Does this make me look fat?”—with the understanding that if the answer is “yes,” you’ve somehow failed? That’s why, when broaching the subject of weight with your child (and in your own life), it’s important to stop talking about weight—and even, to some extent, appearance—and emphasize other characteristics. For example, talk about how an unhealthy lifestyle influences your child’s self-esteem and thus demeanor, as well as how he expresses himself and the impression he makes on other people.
3. Ask your child what would help. Yes, you’re the authority figure in this relationship, but it can be a mistake to assume that you know the best way to help your child become healthier. One of the problems with giving support from a position of experience is that you tend to think that your child’s situation is the same as yours, and therefore, the things that worked for you will work for her. That’s not necessarily the case. Instead, it’s always a great idea to ask what your child thinks the best course of action would be. This, Dr. Katz says, is a main talking point when working with the families of MindStream students.
4. Focus on change, even if you run into resistance. The purpose of any discussion about losing weight and living a healthier lifestyle is to bring about change. In other words, talking to your teen about his weight angst for an hour might have some value because it allows him to vent, but try not to leave the discussion there. Try to take one step forward, too, even if your child is resistant to change.
According to Dr. Katz, an effective way to overcome resistance (or even cut the conversation short if things are getting heated) is to get a commitment to make just one change in the next week. That might be anything from drinking fewer sodas and more water to walking three days a week. Dr. Katz adds that focusing on one simple change a week seems manageable (as opposed to dropping 30 pounds, which is overwhelming), and is a very constructive way to move the conversation forward without getting too bogged down.
5. Observe how your child (and the whole family) uses food. Your discussion will be better received and more effective if you are well informed, so before instigating “the talk,” observe how your child uses food. For example, if you see that she eats in order to manage her emotions, you’ve gained an important piece of information about a very damaging habit. The truth is, we aren’t always the best observers of ourselves. So if you can determine whether or not your child is using food as a drug to avoid discomfort or as a stress manager, you’re one step closer to attacking the root of the problem. You can explain to your child that this underlying eating “trigger,” not food itself, is what she’ll need to focus on managing.
6. Don’t be judgmental. One thing is for sure: Nobody is perfect. And another thing is also for sure: If you attack someone, he’ll stop listening to you. Taking those two truths into account, Dr. Katz insists that you should avoid blaming your child at all costs. The fact is, we live in a fat culture, and the majority of Americans are overweight—so in many ways, your child’s struggle isn’t his fault. However, it is his and your responsibility to do something about it. The focus should always be on how you can help your child move forward from here, expressed as lovingly as possible.
7. Walk the walk. In the end, your example is the best way to change your child’s health behaviors. Dr. Katz points out that teens in particular are sensitive to hypocrisy. So if you aren’t ready to make any and all of the changes that you’re asking of your child, don’t instigate the weight discussion in the first place. If you can’t walk the walk, then your actions will simply be encouraging your children to continue with deadly habits that will have a major negative impact on their lives.
Controversial Children's Book Uses Four-letter Word: DIET
8. And if you really can’t get through… Sometimes, despite their best efforts, parents just can’t get a positive response from their children. If this happens in your family, Dr. Katz is adamant that someone needs to have the weight discussion with your child. Getting professional help is always a good idea, but there may be siblings, other relatives, friends, or even teachers who might get a more receptive response. And if all else fails? Well, Dr. Katz insists, all else can’t be allowed to fail. Your child’s life is too important.
Reference: MindStream Academy
Child Health and Safety Weight Loss Program News Analysis Talking to our children about drugs and sex (but never rock and roll because our tastes are just too out of the times with the current generation’s tastes) has added a new dimension lately—talking to your kids about their weight. Dr. David Katz, an expert on weight management, nutrition and disease warns us that today’s younger generation will not live as long or as healthfully as their parents. He believes that one of the ways to counter this trend is for parents to start talking to their children about weight management and healthy lifestyle choices.
Weight loss and children
The following are eight tips for talking to your kids about their weight printed in its entirety courtesy of Dr. Katz and MindStream Academy - a full-service boarding school for teens and tweens who want to get healthy, fit, lose weight, take control of their lives, build self-esteem, and pursue a personal passion.
1. Put the focus squarely on health and off weight. Whether by default or by design, each family has a health and wellness “culture.” This includes the types of food that are kept in the house, how heavily physical activity is emphasized, what sleep patterns are encouraged, how much health information is available, and more. As a parent, you should emphasize each aspect of this health culture, not just your child’s weight. Remember, healthy weight follows good lifestyle behaviors, but good lifestyle behaviors typically don’t follow weight-loss diets.
2. Recognize that you spend too much time focusing on weight. Most people don’t realize how much they use weight as a yardstick to measure their overall quality of life as well as their worth. For example, how many times have you asked about a piece of clothing, “Does this make me look fat?”—with the understanding that if the answer is “yes,” you’ve somehow failed? That’s why, when broaching the subject of weight with your child (and in your own life), it’s important to stop talking about weight—and even, to some extent, appearance—and emphasize other characteristics. For example, talk about how an unhealthy lifestyle influences your child’s self-esteem and thus demeanor, as well as how he expresses himself and the impression he makes on other people.
3. Ask your child what would help. Yes, you’re the authority figure in this relationship, but it can be a mistake to assume that you know the best way to help your child become healthier. One of the problems with giving support from a position of experience is that you tend to think that your child’s situation is the same as yours, and therefore, the things that worked for you will work for her. That’s not necessarily the case. Instead, it’s always a great idea to ask what your child thinks the best course of action would be. This, Dr. Katz says, is a main talking point when working with the families of MindStream students.
4. Focus on change, even if you run into resistance. The purpose of any discussion about losing weight and living a healthier lifestyle is to bring about change. In other words, talking to your teen about his weight angst for an hour might have some value because it allows him to vent, but try not to leave the discussion there. Try to take one step forward, too, even if your child is resistant to change.
According to Dr. Katz, an effective way to overcome resistance (or even cut the conversation short if things are getting heated) is to get a commitment to make just one change in the next week. That might be anything from drinking fewer sodas and more water to walking three days a week. Dr. Katz adds that focusing on one simple change a week seems manageable (as opposed to dropping 30 pounds, which is overwhelming), and is a very constructive way to move the conversation forward without getting too bogged down.
5. Observe how your child (and the whole family) uses food. Your discussion will be better received and more effective if you are well informed, so before instigating “the talk,” observe how your child uses food. For example, if you see that she eats in order to manage her emotions, you’ve gained an important piece of information about a very damaging habit. The truth is, we aren’t always the best observers of ourselves. So if you can determine whether or not your child is using food as a drug to avoid discomfort or as a stress manager, you’re one step closer to attacking the root of the problem. You can explain to your child that this underlying eating “trigger,” not food itself, is what she’ll need to focus on managing.
6. Don’t be judgmental. One thing is for sure: Nobody is perfect. And another thing is also for sure: If you attack someone, he’ll stop listening to you. Taking those two truths into account, Dr. Katz insists that you should avoid blaming your child at all costs. The fact is, we live in a fat culture, and the majority of Americans are overweight—so in many ways, your child’s struggle isn’t his fault. However, it is his and your responsibility to do something about it. The focus should always be on how you can help your child move forward from here, expressed as lovingly as possible.
7. Walk the walk. In the end, your example is the best way to change your child’s health behaviors. Dr. Katz points out that teens in particular are sensitive to hypocrisy. So if you aren’t ready to make any and all of the changes that you’re asking of your child, don’t instigate the weight discussion in the first place. If you can’t walk the walk, then your actions will simply be encouraging your children to continue with deadly habits that will have a major negative impact on their lives.
Controversial Children's Book Uses Four-letter Word: DIET
8. And if you really can’t get through… Sometimes, despite their best efforts, parents just can’t get a positive response from their children. If this happens in your family, Dr. Katz is adamant that someone needs to have the weight discussion with your child. Getting professional help is always a good idea, but there may be siblings, other relatives, friends, or even teachers who might get a more receptive response. And if all else fails? Well, Dr. Katz insists, all else can’t be allowed to fail. Your child’s life is too important.
Reference: MindStream Academy
Wednesday, November 30, 2011
Traveling for Health: The Potential for Medical Tourism
Reportlinker.com is offering a new market research report that looks at the factors driving the growth of the medical tourism industry and identifies the countries that stand to gain the most. It includes a Medical tourism index, which identifies the 20 countries seem to be set to take the lead in the medical tourism industry. For more information, visit www.reportlinker.com.
Business Owners Don’t Agree With Mandates
Eighty-eight percent of business owners don’t think that it’s right for the Federal Government to force a state resident to buy health insurance, according to The Small Business Authority. In addition, only 9% believe they will have to purchase health insurance from the government while 53% believe the cost of healthcare is going to increase in the next two years. Barry Sloane, Chairman, president and CEO of The Small Business Authority said, “There is wide spread theory that the PPACA will clearly reduce choice for private carriers and allow remaining carriers to continue to raise premiums subject to government regulation.” For more information, visit www.hesba.com.
Retail Medical Clinics See Growing Popularity
The use of medical clinics in pharmacies and other retail settings increased 10-fold from 2007 to 2009, according to a RAND study. The study was published in the American Journal of Managed Care. The RAND team used data from a commercially insured population of 13.3 million. The strongest predictor of retail clinic use is proximity. Also, females are more likely to visit clinics. Retail clinic patients tend to be 18 to 44. (Those over 65 were excluded from the study.) Also, those from zip codes with median incomes of more than $59,000 are more likely to use retail clinics while those with a chronic health complaint are less likely to use them.
Care initiated at retail clinics is 30% to 40% less expensive than similar care in physician offices and 80% less expensive than similar care in an emergency room. J. Scott Ashwood, the study’s lead author said that the increase in the uses of retail clinics could lower healthcare costs if patients use the clinics as a substitution for other sources of care, but not if patents are visiting retail clinics when they would have otherwise stayed home. For more information, visit http://www.rand.org/newsletters.html
Care initiated at retail clinics is 30% to 40% less expensive than similar care in physician offices and 80% less expensive than similar care in an emergency room. J. Scott Ashwood, the study’s lead author said that the increase in the uses of retail clinics could lower healthcare costs if patients use the clinics as a substitution for other sources of care, but not if patents are visiting retail clinics when they would have otherwise stayed home. For more information, visit http://www.rand.org/newsletters.html
Blue Shield To Provide Rebates
Credits ranging from 18% to 54% of one month’s premium will appear on December bills as Blue Shield of California fulfills its pledge to limit its net income to 2% of revenue. Blue Shield is giving back the amount collected above 2% to customers and the community. Starting this week, letters will be mailed to subscribers and group customers who are eligible to get a credit. Their December bill will reflect the credit based on their dues/premiums from August 2011. The company will give premium credits back to individual and fully insured group customers based on a percentage of one month’s dues/premium from August 2011:
■Individual and family plan customers will get a credit of 54% of one month’s dues/premium.
Fully insured groups will get a credit of 54% of one month’s dues/premium.
■Groups with shared risk agreements will get a credit of 18% of one month’s dues/premium.
■Customers with fully insured continuous coverage from August 1 through at least December 1, 2011 will get a credit in the bill for their December 2011 dues/premiums (other than government programs whose contracts do not permit such credits) .
The average individual customer will be credited approximately $135 and an average family of four will be credited approximately $420. The range is roughly $40 to $270 for individuals and $220 to $700 for a family of four.
For all fully insured mid/large group customers (51 employees and above), the average credit to the group will be $195 to $230 per member. Employers who pay part of the premium must decide whether and how to apportion it. For small groups (two to 50 employees), the averages are $220 for one employee and approximately $605 for a family of four.
■Individual and family plan customers will get a credit of 54% of one month’s dues/premium.
Fully insured groups will get a credit of 54% of one month’s dues/premium.
■Groups with shared risk agreements will get a credit of 18% of one month’s dues/premium.
■Customers with fully insured continuous coverage from August 1 through at least December 1, 2011 will get a credit in the bill for their December 2011 dues/premiums (other than government programs whose contracts do not permit such credits) .
The average individual customer will be credited approximately $135 and an average family of four will be credited approximately $420. The range is roughly $40 to $270 for individuals and $220 to $700 for a family of four.
For all fully insured mid/large group customers (51 employees and above), the average credit to the group will be $195 to $230 per member. Employers who pay part of the premium must decide whether and how to apportion it. For small groups (two to 50 employees), the averages are $220 for one employee and approximately $605 for a family of four.
Tuesday, November 29, 2011
AMS Favorite Links
Medical Assistance, Evaluation for Companies and Individuals
Business Development, Marketing and Financial
Personal Interest Areas and Government Programs
Business Development, Marketing and Financial
Personal Interest Areas and Government Programs
Saturday, November 26, 2011
Newsletters
Stay up to date with our easy to view and read newsletters; ideas you can put ot use.
Employee Benefit Newsletter
The latest benefit information for Business Owners, HR Managers, CFO's. We cover changing markets and legislation, along with what others are doing today and looking into the future of benefits.
Business Edge Newsletter
Keeping the business owner up to date on financial news, benefits and resources to help manage your business.
Financial Monitor Newsletter
Stay abreast of current financial topics for Individuals and Families.
21st Century Retirement Planning Newsletter
Up to date, informative and packed with ideas you will want to know about now in planning for retirement.
Life and Health Insurance Advisor
The latest information compiled all in one place on health, life style, and other important ideas which you can use today.
Senior Newsletter
Information for the changing needs of seniors and their families.
Voluntary Benefits
Unlock the power of Voluntary Benefits with ideas and information in our bi monthly newsletter.
Stay up to date with our easy to view and read newsletters; ideas you can put ot use.
Employee Benefit Newsletter
The latest benefit information for Business Owners, HR Managers, CFO's. We cover changing markets and legislation, along with what others are doing today and looking into the future of benefits.
Business Edge Newsletter
Keeping the business owner up to date on financial news, benefits and resources to help manage your business.
Financial Monitor Newsletter
Stay abreast of current financial topics for Individuals and Families.
21st Century Retirement Planning Newsletter
Up to date, informative and packed with ideas you will want to know about now in planning for retirement.
Life and Health Insurance Advisor
The latest information compiled all in one place on health, life style, and other important ideas which you can use today.
Senior Newsletter
Information for the changing needs of seniors and their families.
Voluntary Benefits
Unlock the power of Voluntary Benefits with ideas and information in our bi monthly newsletter.
Sunday, November 20, 2011
Business Services from AMSINSURE.com Benefit Consultants
AMS has developed specialized programs for small business which offer affordable choices in sponsored and voluntary benefits.
Payroll & HR Solutions Links:
Payroll Service Center: superior small business payroll outsourcing company, delivers tailored payroll solutions at 30 to 40% savings to small business arranged by AMS.
HR Support Center: one-stop resource for employee management and workplace compliance information, a no cost value added service of AMS.
Pension Plans
Principal Financial, Transamerica, and 401 K online: National known as state of the art full service turnkey programs with competitive costs.
HSA & HRA PLANS
HSA explained: answers to your questions on how to set up, what can I save, what benefits are funds available for.
Plan and Rate Quotes: Anthem, UHC, Health Net, Aetna, Kaiser
Cobra Administration
Cobra on Q: a self administered plan provided at no cost for the first year. You receive full support and online services.
Conexus: national provider of cobra, section 125 POP and Cafeteria programs.
Voluntary and Discount Plans
Americard: Voluntary low cost discount programs to supplement you employee benefit package. Three levels of to choose from payroll deducted.
Cal Rx Discount Card: a no cost program for those who want to supplement or have no medical coverage. Receive up to 30 % off on Generic and Brand.
Thursday, November 10, 2011
The Three Biggest Long-Term Care Insurance Myths (and why you shouldn’t believe them)
According to the Centers for Medicare and Medicaid, about half of nursing home residents pay for their care out of pocket. A recent survey found a private nursing home room cost a median of $77,745 per year in 2011, up from $60,225 in 2005. Can you afford this? Read on for details.
Small Business can learn from the Big Business; whats important to an employee
The Googleplex, Google’s corporate headquarters in Mountain View California, is legendary for its perks. Employees have access to unlimited free meals, haircuts, dry cleaning, massages, and even onsite medical care.
Yet earlier this year, when Google interviewed its employees about what they valued most at work, none of these extravagant benefits made the top of the list. Neither did salary.
Yet earlier this year, when Google interviewed its employees about what they valued most at work, none of these extravagant benefits made the top of the list. Neither did salary.
Instead, employees cited access to “even-keeled bosses who made time for one-on-one meetings, who helped people puzzle through problems by asking questions, not dictating answers, and who took an interest in employees’ lives and careers.”
Wednesday, November 09, 2011
Employee Satisfaction Drives Voluntary Benefits
Seventy-five percent of employers say that their top reason for offering voluntary benefits is to expand the benefit options for employees, according to a study by Prudential. Voluntary benefits are optional programs that are 100% paid for by employees. Eighty-five percent of employers offer one or more voluntary benefits including life insurance (63%), disability insurance (56%), and dental insurance (52%), critical illness insurance (35%), and long-term care insurance (33%).
Fifty-one percent of workers cited convenience as the driving factor in purchasing voluntary benefits at the workplace. Fifty-two percent feel that voluntary benefits increase the value of their company’s offerings. Employers judge the success of voluntary benefits by employee satisfaction (47%) and the participation rate (34%). For more information, visit www.prudential.com/benefitsmatter to learn more.
US Treasury Report - Health Care Tax Credits for Clients Go Unclaimed
The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act were signed into law in March 2010. Among the credits contained in this legislation was the Small Business Health Care Tax Credit. The credit was designed to encourage small employers to offer health care insurance. It is available only to small employers who pay at least one-half the cost of health insurance coverage for their employees.
The Congressional Budget Office estimated the credit would cost $37 billion over 10 years and that taxpayers would claim up to $2 billion of Credit for Tax Year 2010. However, in a recent report by the US Treaury Inspector General, as of mid-May 2011, just more than 228,000 taxpayers had claimed the credit for a total amount of more than $278 million. An audit to determine whether the IRS adequately implemented and processed the credit found that while their efforts were mostly successful, some improvements are needed since the number of claims for health care tax credits has been much lower than anticipated.
“The Small Business Health Care Tax Credit is an important credit for both small business employers and their employees,” said TIGTA Inspector General J. Russell George in a statement. The IRS sent postcards to businesses that might potentially qualify for the credit to make sure they were aware of it, the IRS did not have ready access to data that would allow it to determine which of these businesses actually offered health insurance to their employees or otherwise qualified for the credit. He believes the report’s recommendations, once adopted, should improve the IRS’s ability to verify claims for this credit.”
Are you the owner of a small firm who is providing health insurance for your employees and paying at least 50% of the premium? Then you may qualify for the “Small Business Health Care Tax Credit”. We suggest you contact your accounting firm to make sure you are receiving the proper credit.
Effective 2010
Small business tax credit: Businesses with fewer than 25 employees and average wages of less than $50,000 could qualify for a tax credit of up to 35 percent of the cost of employees’ premiums
Contact us to learn more about the great small business benefit.
info@amsinsure.com
http://www.amsinsure.com
800-334-7875
The Congressional Budget Office estimated the credit would cost $37 billion over 10 years and that taxpayers would claim up to $2 billion of Credit for Tax Year 2010. However, in a recent report by the US Treaury Inspector General, as of mid-May 2011, just more than 228,000 taxpayers had claimed the credit for a total amount of more than $278 million. An audit to determine whether the IRS adequately implemented and processed the credit found that while their efforts were mostly successful, some improvements are needed since the number of claims for health care tax credits has been much lower than anticipated.
“The Small Business Health Care Tax Credit is an important credit for both small business employers and their employees,” said TIGTA Inspector General J. Russell George in a statement. The IRS sent postcards to businesses that might potentially qualify for the credit to make sure they were aware of it, the IRS did not have ready access to data that would allow it to determine which of these businesses actually offered health insurance to their employees or otherwise qualified for the credit. He believes the report’s recommendations, once adopted, should improve the IRS’s ability to verify claims for this credit.”
Are you the owner of a small firm who is providing health insurance for your employees and paying at least 50% of the premium? Then you may qualify for the “Small Business Health Care Tax Credit”. We suggest you contact your accounting firm to make sure you are receiving the proper credit.
Effective 2010
Small business tax credit: Businesses with fewer than 25 employees and average wages of less than $50,000 could qualify for a tax credit of up to 35 percent of the cost of employees’ premiums
Contact us to learn more about the great small business benefit.
info@amsinsure.com
http://www.amsinsure.com
800-334-7875
Tuesday, November 08, 2011
Recruiting: Staying One Step Ahead of the Competition
Whether you run a small, family-owned business or a large corporation, attracting and retaining key employees is challenging. In today's economy, businesses often must compete for skilled and talented employees in the same way they compete for a customer's business. So, how can your business set itself apart and attract talented individuals?
Core Benefits
In addition to a competitive salary, most potential employees have a certain level of expectation concerning benefits. When evaluating prospective employers, they may first look at what core benefits are being offered by each. The following benefits may be among their primary considerations:
Qualified Retirement Plan. With the shift away from defined benefit plans toward defined contribution plans, personal retirement savings are more important than ever, and the 401(k) plan has become a sought-after vehicle for retirement savings. Today, prospective employees often expect, at a minimum, that a plan will be available to them. Plans such as the 401(k) can also be enhanced with employer-matching contributions.
Health Insurance. With escalating health care costs, health insurance is one of the most important employee benefits. Although group health insurance is a fairly common benefit, the details and costs associated with each plan vary, and prospective employees will seek the plan that meets their needs most affordably.
Vacation and Personal Time. As employees seek better work-life balance, the amount of vacation and personal time offered by an employer is often an important consideration. In fact, many individuals value the amount of vacation and personal time available to them, even if they fail to use it all on an annual basis.
Flexibility. Changes in employee demographics have resulted in the need for greater flexibility, and technological advances continue to change the way employees work. Therefore, it is important for businesses to recognize these trends and modify policies for flexible work schedules, as appropriate.
Work Environment. The atmosphere of a place of employment can also be a key factor in employee satisfaction. Prospective employees may consider stress levels, interdepartmental communications, and the appropriation of duties.
Selective Benefits
In some cases, Internal Revenue Service (IRS) anti-discrimination rules limit the benefits received by highly compensated employees. For executive-level employees, there are additional benefits that can be offered. The availability of these selective benefits can distinguish one employer from another.
Executive Bonus Plan. An employer may offer a key employee a compensation bonus to be used by the employee to pay the premium on a life insurance policy. If the employee owns the policy, the bonus amount can be a deductible business expense for the employer. The employee must claim the annual bonus on their tax return as ordinary income. Any death benefit paid to the employee's estate or beneficiary is generally income-tax free.
Disability Insurance. For highly compensated employees, a group disability plan may provide only a limited amount of coverage should they sustain an illness or injury that prevents them from working. To supplement this coverage, an employer may offer additional, individual disability insurance.
Voluntary Benefit Plan. Through a voluntary benefit plan, an employer can offer a menu of benefit options (e.g., dental insurance, disability insurance, etc.) in addition to existing core benefits. Employees choose the benefits that meet their respective needs and pay for them through payroll deductions, as defined by the specific plan. Because voluntary benefit plans are offered in a group setting, costs are generally more affordable than if an employee were to purchase similar benefits individually.
Today's business owners are realizing that a competitive salary is no longer the only factor sought by highly skilled employees. Just as you shop for key employees, they shop for the employer that offers the best combination of salary and benefits for their specific needs. Therefore, employers should consider creating a benefits package that keeps them one step ahead of the competition.
Borrowing Responsibly and Managing Debt
All business owners prefer to operate in the black. But, taking on debt is sometimes necessary as a company expands or when business slows due to economic volatility. Managing your debt carefully can minimize the cost of carrying debt and make it easier to move back into the black when the market improves.
Before taking out a new loan, make a list of your company's assets that can serve as collateral, including real estate, buildings, and equipment. Then calculate how much financing your business needs, outlining precisely how you plan to spend the money. At the same time, review your current operations, looking for ways to cut unnecessary costs or increase revenues. You may, for example, be able to renegotiate payment plans with suppliers to allow more time to pay off the amounts owed. Similarly, if your company is planning to purchase equipment, consider whether leasing can reduce the amount you need to borrow. Review your invoicing procedures, ensuring that your system for collecting payments is effective.
After you have explored all options for increasing revenue and reducing expenditures, revise your business plan to reflect your current needs. Potential lenders often want to see evidence that your company is run efficiently and that market conditions justify additional outlays. Even if business is down due to the economy, you may, for example, be able to demonstrate that your company is out-performing competitors and is in a position to rebound quickly.
If you wish to borrow money, start by approaching your current bank. While an extension of a line of credit may be sufficient to meet the short-term need for additional cash flow, consider options for locking in a manageable interest rate for any long-term debt. If the amount of money your bank is prepared to lend your company is insufficient, investigate the alternatives. Because lending practices vary, consider applying for loans from a variety of banks, including large institutions, smaller community banks, and credit unions.
For smaller loans, consider approaching a nonprofit lender that provides micro-loans through a program of the Small Business Administration (SBA). These lenders typically extend lines of credit of up to $35,000 and may require applicants to provide evidence that they have been denied a bank loan. Online peer-to-peer lending may also provide a smaller loan. Individuals or businesses wishing to borrow funds on a peer-to-peer website post a listing
for a loan, including information about the amount needed and the rate they believe they can afford. Potential lenders then bid to fund the loan, offering varying amounts and rates.
If you are unable to obtain financing through these channels, investigate other SBA loan programs. Distributed through commercial lenders, loans can be guaranteed by the SBA with favorable terms to qualified borrowers. The 7(a) program makes loans up to $2 million for a variety of purposes, including larger capital purchases or short-term working capital needs. While the loan itself is made by the bank, the SBA limits the interest rates and fees the lender can charge. The SBA's 504 loan program provides growing businesses with long-term, fixed-rate loans of up to $2 million for the purchase of major fixed assets, such as land and buildings. However, the SBA may require personal guarantees from borrowers owning 20% or more of the business.
With the economy in flux, your company may be in a very different position than the last time you sought financing. If an analysis of your current situation reveals a high debt-to-equity ratio, taking out additional loans or credit could expose you to too much risk. To avoid becoming too leveraged, consider looking for new investors. Depending on your needs, your capital requirements may be met through small investments from friends, relatives, business associates, angel investors, or employees. These deals should always be governed by a legal contract defining the terms of the arrangement, including the return on investment for stakeholders and the extent to which investors will be involved in running the business.
Many businesses require financing for short- and long-term needs. Borrowing responsibly and managing debt effectively can help your company minimize the cost of debt, as it is needed.
Before taking out a new loan, make a list of your company's assets that can serve as collateral, including real estate, buildings, and equipment. Then calculate how much financing your business needs, outlining precisely how you plan to spend the money. At the same time, review your current operations, looking for ways to cut unnecessary costs or increase revenues. You may, for example, be able to renegotiate payment plans with suppliers to allow more time to pay off the amounts owed. Similarly, if your company is planning to purchase equipment, consider whether leasing can reduce the amount you need to borrow. Review your invoicing procedures, ensuring that your system for collecting payments is effective.
After you have explored all options for increasing revenue and reducing expenditures, revise your business plan to reflect your current needs. Potential lenders often want to see evidence that your company is run efficiently and that market conditions justify additional outlays. Even if business is down due to the economy, you may, for example, be able to demonstrate that your company is out-performing competitors and is in a position to rebound quickly.
If you wish to borrow money, start by approaching your current bank. While an extension of a line of credit may be sufficient to meet the short-term need for additional cash flow, consider options for locking in a manageable interest rate for any long-term debt. If the amount of money your bank is prepared to lend your company is insufficient, investigate the alternatives. Because lending practices vary, consider applying for loans from a variety of banks, including large institutions, smaller community banks, and credit unions.
For smaller loans, consider approaching a nonprofit lender that provides micro-loans through a program of the Small Business Administration (SBA). These lenders typically extend lines of credit of up to $35,000 and may require applicants to provide evidence that they have been denied a bank loan. Online peer-to-peer lending may also provide a smaller loan. Individuals or businesses wishing to borrow funds on a peer-to-peer website post a listing
for a loan, including information about the amount needed and the rate they believe they can afford. Potential lenders then bid to fund the loan, offering varying amounts and rates.
If you are unable to obtain financing through these channels, investigate other SBA loan programs. Distributed through commercial lenders, loans can be guaranteed by the SBA with favorable terms to qualified borrowers. The 7(a) program makes loans up to $2 million for a variety of purposes, including larger capital purchases or short-term working capital needs. While the loan itself is made by the bank, the SBA limits the interest rates and fees the lender can charge. The SBA's 504 loan program provides growing businesses with long-term, fixed-rate loans of up to $2 million for the purchase of major fixed assets, such as land and buildings. However, the SBA may require personal guarantees from borrowers owning 20% or more of the business.
With the economy in flux, your company may be in a very different position than the last time you sought financing. If an analysis of your current situation reveals a high debt-to-equity ratio, taking out additional loans or credit could expose you to too much risk. To avoid becoming too leveraged, consider looking for new investors. Depending on your needs, your capital requirements may be met through small investments from friends, relatives, business associates, angel investors, or employees. These deals should always be governed by a legal contract defining the terms of the arrangement, including the return on investment for stakeholders and the extent to which investors will be involved in running the business.
Many businesses require financing for short- and long-term needs. Borrowing responsibly and managing debt effectively can help your company minimize the cost of debt, as it is needed.
How Do Your Life Benefits Measure Up?
In December 2010, the U.S. Bureau of Labor Statistics released “Program Perspectives,” a report on life and disability insurance benefits. Using information gathered in the National Compensation Survey, the report provides an overview of what employers offer in terms of life and disability benefits and participation rates. In this article, we’ll focus on what the report says about life insurance benefits today in the U.S. Read on for details.
Cutting Group Health Costs
Saturday, November 05, 2011
HR Tip
It is an employer's responsibility to track employees' hours and pay accordingly. Employees can be required to turn in timesheets, and pay cannot be withheld as penalty for not turning in timesheets.
AMS offers a value added HR program for clients.
AMS offers a value added HR program for clients.
Thursday, November 03, 2011
2012 Medicare Premiums, Deductibles and Coinsurance
A new Capital Checkup that discusses 2012 Medicare premiums, deductibles and coinsurance is available on the Sibson website.
As noted in the Capital Checkup, the standard monthly Part B premium and deductible will both decrease by just over 13 percent. This is a dramatic change from between 2010 and 2011 when they both increased by slightly more than 4 percent and is an even more striking change from between 2009 and 2010 when the increase was 14 percent. However, the 2012 premium will represent an increase for about three-quarters of Medicare beneficiaries who paid the same $96.40 premium in 2011 that they paid in 2010 because of a "hold-harmless provision" in the law. Increases in 2012 Social Security benefits are expected to cover the additional cost for most. The Part A numbers will increase by just over 2 percent.
The Capital Checkup also notes the higher Part B premiums and income-related monthly adjustment for enrollees in Part D prescription drug plans for 2012 that apply for high-income Medicare-eligible individuals.
As noted in the Capital Checkup, the standard monthly Part B premium and deductible will both decrease by just over 13 percent. This is a dramatic change from between 2010 and 2011 when they both increased by slightly more than 4 percent and is an even more striking change from between 2009 and 2010 when the increase was 14 percent. However, the 2012 premium will represent an increase for about three-quarters of Medicare beneficiaries who paid the same $96.40 premium in 2011 that they paid in 2010 because of a "hold-harmless provision" in the law. Increases in 2012 Social Security benefits are expected to cover the additional cost for most. The Part A numbers will increase by just over 2 percent.
The Capital Checkup also notes the higher Part B premiums and income-related monthly adjustment for enrollees in Part D prescription drug plans for 2012 that apply for high-income Medicare-eligible individuals.
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