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Employers making strides for employee retention, recruiting

Companies are finding that it is becoming more and more challenging to recruit and retain talented individuals to work for their organization. No matter what the field or craft, labor is at an all-time high. The recruiting and retention tactics are ranging far and wide as talented employees become more and more valuable. Some organizations are starting with higher pay. Others are utilizing more aggressive techniques. Some businesses have started offering finders fees to current employees who refer a talented individual. Organizations have even begun poaching employees from one company to their own. Companies in various fields are facing difficulty hiring the “perfect” candidate for each job that is to be filled. Every industry is more and more challenging and competitive. The search for outstanding employees has also led more and more organizations to start offering more comprehensive benefits. While pay is still an important factor among employees that are searching, benefits are equally impo ...

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Why retirement plans aren’t proving to be as effective

Companies are being encouraged to take a good look at their retirement plans because many employees are still facing issues when it comes to being prepared for their retirement. Experts who have researched the situation have concluded that although the big problem with retirement nationwide is slowly improving, there are still significant problems that remain. If the individual employee does not have a plan, or if their employer does not have a plan in place for them, there will be an eventual issue in the individual savings. Experts said that not much has changed in the retirement-plan landscape over the past 35 years. Large numbers of smaller organizations do not offer retirement plans. Specifically, more than 75 percent of companies with under 100 employees do not offer a plan. So what solutions have worked? The first thing companies need to do is start thinking outside of the box. Experts say that organizations might be more successful if they examine the desired outcome of the plan and understand ...

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Treasury estimates up to 6 million might owe penalties for lack of health insurance

Up to six million Americans are facing tax penalties because they did not have health insurance in 2014. The penalties for lack of insurance are a provision of the Affordable Care Act. Those who are to be penalized are taxpayers who “made a choice not to obtain health-care coverage that they could have afforded.” These individuals are also not eligible to classify for one of the exceptions. Up to 30 million people were classified as uninsured for either all or a portion of 2014, most of which will claim a tax exemption as a result of the requirement to have coverage. Nearly 8 million individuals have already received an advance premium tax credit to help lower the cost of premiums for the year 2014. Seventy five percent of those who pay tax received health insurance coverage from their employer, government-sponsored health plans such as Medicare, Medicaid or the Children’s Health Insurance Program (CHIP), or health programs sponsored by the military. These people will only be responsib ...

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Millennials Signing Up Under Obamacare in Significant Numbers

We’ve all heard the numbers: the number of uninsured Americans has gone down 4.2% since the Affordable Care Act went into effect in 2013. But the numbers are even more dramatic when it comes adults between the ages of 19 and 25, or “Millennials.” Their uninsured rate has fallen by more than 40%, with an additional 4.5 million new adults gaining coverage under the law, either through new enrollments or by being grandfathered into their parent’s plans. The ACA extended the age until which young adults may receive coverage under a parent’s plan to 26. Before the ACA was implemented, there was concern expressed inside and outside the Obama administration that young adults were less likely to enroll in health insurance that they did not see themselves as needing. This could have spelled disaster for the law since any insurance exchange needs healthier consumers to pay premiums in order to support the expenditure necessary to cover the less healthy. This result means that the gap i ...

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Republicans Want to Repeal Obamacare. How Bad Could it Really Be?

Really, pretty bad. At this point, Republicans in Congress have tried to overturn the Affordable Care Act more than fifty times. If they were to succeed, it would obviously have consequences, but how far reaching would they be? Here are a few quick ideas about what would happen were the law to be taken down immediately. First, the ACA has given millions of Americans increased access to preventive services, which cover everything from screening and tests for things like cancer, to basic public health concerns like vaccines or birth control, providing them at no out-of-pocket expense to the consumer. 76 million Americans would lose this coverage without the ACA, a figure which included roughly 30 million women and 18 million children. Others would lose coverage due to a pre-existing condition. As many as 129 million—17 million of them children—would either lose coverage or be denied the right to enroll in new coverage due to a pre-existing condition. This element of the law enjoys wide support, e ...

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