Employee retention and company attraction stem from making your employees feel valued and appreciated at work — praising employees makes them feel as though their work is important. One way to do this is to provide benefits and incentives that are competitive. Not all benefits have to have a monetary effect on your company. Here are a few creative ways to offer good benefits and incentives to improve employee satisfaction.
Unemployment numbers have hit a record high over the last few weeks. The global pandemic has caused many people to lose their job, as businesses were forced to close. Losing a job typically brings a loss of benefits. What do you need to know about unemployment benefits, and how they have changed due to COVID-19?
Having coverage is extremely important in ensuring your health and wellbeing especially during today’s environment. While some states believe that it’s too late to expand Medicaid coverage, it could help those unemployed greatly. Over the last few months, all but 15 states have participated in the expansion of Medicaid. This coverage can help save lives.
With the recent pandemic, many things have changed in regard to healthcare services. One major way healthcare has changed over the last few months is through the expansion of telehealth services. The Office of Civil Rights has recently relaxed the constraints surrounding which video conferencing applications are HIPAA compliant provided that these services are provided in good faith. As OCR relaxed HIPAA enforcement, there have been increases in telehealth services. The article below details how these relaxed regulations have changed the telemedicine world, and why we can expect it to stick post-COVID:
Telehealth has expanded leaps and bounds in the past few months. With the outbreak of Coronavirus, and the high infection risk, people have turned to telehealth services to supplement non-emergent doctor appointments. By the end of the year, the use of virtual health services could hit 1 billion users. In March, the number of telehealth services increased by 50% compared to last year. As we see the number of telehealth visits continue to increase, it is safe to assume that this may be the new normal.
Coronavirus has spread rapidly throughout the world, especially in places with more vulnerable populations. Specifically, in the nursing homes, there has been a massive spike in COVID-19 related deaths. With this information, many state officials have called for nursing home workers and residents to be tested consistently. These health care workers are some of the most underpaid workers in the industry, yet they might have to take on the financial burden of paying for their weekly testing.
Due to COVID-19, ACA compliance has become a bit more complicated. As an employer, you must ensure that all your paperwork and practices are ACA compliant. If individuals wrongly receive a PTC, the employer is responsible for proving to the IRS that the individual did not qualify. It is now more important than ever to have your information in order, in case of future issues. In the ACA times article below, you will see why ACA penalties may increase this year, and how you can prevent potential penalties for your business.
Benefit programs are essential to keeping your employees engaged and happy at work— but not just standard benefit programs. You also need to be providing voluntary benefits. Voluntary benefits allow employees to feel cared for and important in your organization. Here are a few ways voluntary benefits might benefit your business:
Coronavirus has sent shockwaves throughout the world over the past few months. While we work to combat the virus right now, we also must consider what might happen in the future. How will the pandemic, the shutdown economy, canceled elective surgeries, and other coronavirus-related issues affect the future of our well being as a whole?
Under the CARES Act, the Secretary of the Department of Health and Human Services was instructed to write payments under the Inpatient Prospective Payment System by 20% for Medicare beneficiaries who have had COVID-19.
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