Assessments, Policies, and Training Are Key to HIPAA Compliance

HR Daily Advisor

The keys for plan sponsors to avoid penalties under the Health Insurance Portability and Accountability Act (HIPAA), as well as other liability that may come with data breaches, were discussed by HIPAA experts in a recent webinar. Periodic risk assessments, updated policies and procedures, and ongoing training are critical to HIPAA compliance, said Kathryn Bakich, senior vice president at Segal Consulting. Minimizing HIPAA Privacy Liability.

What is ERISA?

HR Daily Advisor

ERISA stands for the Employee Retirement Income Security Act of 1974. In short, this is the federal law that creates standards for retirement, health, and pension plans. Even though such plans are typically set up privately, employers that opt to offer them have an obligation to meet the requirements under ERISA when implementing their plans. The Act advises when employees must be allowed to join the plan. Compensation benefits COBRA ERISA HIPAA

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Responsibilities of the DOL

HR Daily Advisor

Established in 1913, the Department of Labor (DOL) has legal responsibility over matters related to employment. On their website today, they state their mission [i] : “To foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.”. These laws affect millions of workers throughout the country.

HR services for small business

Tandem HR

Rarely do you find a business started for the sheer thrill of processing payroll or because hiring and firing people is a hobby. Nor does anyone start a business for the excitement they feel when complying with employment law. Small and mid-sized businesses can provide the HR their people need without wasting time or money by engaging with a Professional Employer Organization or PEO. This allows owners and executives to spend their valuable time growing the business.

Plan Sponsor Groups Call on DOL to Withdraw Proposed Form 5500 Changes

HR Daily Advisor

Two major plan sponsor organizations urged the U.S. Department of Labor (DOL) to withdraw the revisions it proposed to the Form 5500 reporting requirements for group health and retirement plans. Further, we are concerned that many of the Proposed Revisions would require plan administrators, under penalty of perjury, to answer questions for which they do not have readily available information.”. The notice of proposed revision was published July 21 (81 Fed.

Consequences of Outdated Employee Benefits Systems

Zenefits

Technology is making remarkable strides across the employee benefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benefits administration is regarded as the most complex HR process.

Taking the Guess Work out of Your HR Decisions

Effortless HR

As I built the EffortlessHR platform – a Human Resource Information System – I kept being asked several questions: Why do I need to …. What this really told me was that most companies without a HR Department had no idea how the number of their employees impact which law/regulation they needed to follow and understand. Federal Income Tax Withholding – Employers must withhold and pay the federal government a set percentage of employee wages for the federal government.