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Keep Workers Comp Costs at a Minimum

Keep Workers Comp Costs at a Minimum As business owners and administrators know, worker’s compensation is necessary to manage a successful business. It is a state-required expenditure that comes with a lot of caveats. Though it seems sometimes difficult to stay compliant, there are some things you can do to make sure your company keeps worker’s compensation costs at a minimum. Workers Comp Cost Tips: Increase your company deductible. The higher the deductible, the lower the premium. But in addition, the more a company must pay for each injury, the bigger the incentive for keeping injuries from happening to employees. Increased injuries will eventually lead to increases in workers compensation. Try to stay in the low premium bracket. Similar to how every other insurance plan works, the more claims you have, the more your company becomes a risk (which will eventually lead to higher premiums). The biggest difference, however, is the law requires worker’s comp (and companies th ...

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Need Help with Employment Laws?

Need Help with Employment Laws? Department of Labor Website Can Help   Do you need help understanding employment laws? If so, the United States Department of Labor (DOL) has a website that can help you! It’s called “elaws” or Employment Laws Assistance for Workers and Small Businesses. It’s a series of online advisors that help employers and employees understand what their responsibilities and rights are under the numerous federal employment laws. Advisors simulate a conversation that might be conducted with an employment law expert. Topics include everything from OSHA to the Family & Medical Leave Act to a drug free workplace to health benefits and more.   The interactive tools help people determine if they are in compliance with federal employment laws. This is done by asking questions, giving information and directing people toward the appropriate resolutions.   This website and elaws are one of several compliance assistance tools that have been devel ...

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What does your company need to know when looking for a managed care provider?

What does your company need to know when looking for a managed care provider? Managed Care Provider Tips The goal of managed care in the United States is to help reduce the costs of providing healthcare benefits to employees. If companies do their research and choose the right provider based on their needs, managed care can help reduce medical costs, assist with medical treatment and care plans and more. When injuries happen, it’s important your employees already know what steps they can and need to take. Education is key before an accident happens. Finding the right managed care vendor for your company is an important task. Healthcare experts advise consideration of PPO providers as well as onsite occupational clinics. Hospitals even have these clinics, which offer both quality control and convenience. There are several things to keep in mind when searching for a managed care provider: Research how the program interacts with the claims administrator. Check out how costs compare am ...

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How are Divorced Spouses Impacted by Social Security Benefits?

How are Divorced Spouses Impacted by Social Security Benefits? On the basis of work records, federal law states that a divorced spouse can claim social security benefits. Please note those benefits do not have any impact on the benefits that are available to a person or their existing spouse. According to the Social Security Administration, for a divorced spouse to receive benefits, the following eligibility conditions must be met: Marriage lasted for over 10 years. Former spouse is at least 62-years-old. Former spouse should be unmarried after the divorce. Benefits are entitled on the basis of their individual records being lower than the benefits they would receive based on your records. There are three conditions: If the divorced spouse remarries – As an exception to the standard condition, if an ex-spouse remarries another person, he or she will no longer be eligible for Social Security benefits (based on the former spouse’s records). But if the marriage ends in div ...

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President Obama Hopes to Provide Relief for States with Debt from Unemployment Benefits

President Obama Hopes to Provide Relief for States with Debt from Unemployment Benefits Under the Obama administration, states that have borrowed billions of dollars from the federal government for the high costs of unemployment benefits could soon get immediate relief. The plan President Obama is proposing would suspend interest payments for the next two years. It would also allow states to avoid raising taxes on businesses to cover the payments (an amount experts believe will add up to $3.6 billion through 2012). The proposal will soon be sent to Congress. Under the plan, President Obama would also suspend automatic increases in the federal unemployment tax. This is scheduled to impact employers in almost half of the states by the end of 2012. To help the states repay their debts and replenish their unemployment funds, Obama plans to target companies for higher payroll taxes beginning in 2014. However, many analysts believe the economy will be recovered by then. The proposal outlines increasing the ...

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