As we approach mid-year there are about a dozen cities and counties in the Golden State that will be increasing their minimum wage for employers that operate within their jurisdictions. The state minimum wage is currently $15 an hour for employers with 26 or more workers, and $14 an hour for all other smaller employers,…
Surprise bills and billing errors are driving growing dissatisfaction among Millennials and Gen Zers with their health insurance, a new study has found. HealthCare.com’s “2022 Medical Debt Survey” found that about one in four Gen Zers and Millennials with medical debt skipped rent or mortgage payments because of their debt. That’s compared with 21% for…
While ransomware is making the headlines as the major cyber threat for businesses, small and mid-sized organizations are increasingly being targeted by lower fraud that dupes them into wiring criminals funds, according to a new report. These funds transfer fraud crimes involve hackers gaining access to a company’s mailbox and extracting payments that go into…
More employers are using return-to-work programs for injured workers even if they were not injured on the job, according to a study by Prudential Insurance Co. of America. Many employers have a return-to-work program for their injured employees because it cuts down on workers’ comp claims costs and lets the worker get back to feeling…
One of the keys to ensuring the longevity of your insurance agency is having your finances in order and ensuring that you are generating a profit. That’s easier said than done as often the commission checks roll in sporadically during the year, or all at once after peak renewal seasons. Besides the obvious issue of…
The Department of Health and Human Services has issued some new “frequently asked questions” for its Affordable Care Act pages, and new guidelines that require health plans to expand what they are required to cover with no cost-sharing. The new FAQ section expands the age group for which insurers must cover colonoscopies and adds some…
One of the hardest parts of running an insurance brokerage is keeping a strong team of producers motivated to meet their sales targets. The task is especially difficult in today’s tight job market when insurance agencies need to take the extra steps required to put in place the intangibles that are needed to retain and…
It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. A recent survey of 226 executives by Harvard Business Review Analytic Services concluded that employees and employers could enjoy…
Legislators in Sacramento have fast-tracked new legislation that will extend paid COVID-19 leave benefits for workers in California. AB 84, which Gov. Gavin Newsom has promised to sign, would require employers with 26 or more workers to provide up to 40 hours of supplemental paid sick leave for employees who are unable to work on…
A new study has found that in response to the COVID-19 pandemic nearly half of U.S. workers added one new supplemental health-related benefit on top of their group health coverage. The 2021 “Aflac WorkForces Report” found that 44% of employees bought one additional benefit, with life insurance policies seeing the biggest uptake. The fact that…