In observance of the Thanksgiving holiday, our offices will be closed on: Thursday, November 25th, and Friday, November 26th. We will re-open during normal business hours on Monday, November 29th.
During this time of gratitude, we would like to express how thankful we are for all our valued relationships. On behalf of all of us at Employco USA, we would like to wish you a Happy Thanksgiving!
Human resources expert Rob Wilson weighs in
‘Tis the season to get new health insurance rates! Rates are dramatically on the rise, with some companies seeing increases in premiums from 20 to 40 percent. Due to COVID’s impact, hospitals need to pay their workers more than ever before, just to retain employees and ensure that they stay staffed. And, supply chain issues mean price increases across the board, even in the healthcare industry.
Here is what employers need to know:
“Inflation is higher now than it has been in years,” says Rob Wilson, President of Employco USA and group health insurance expert. “Wages are going up, benefits are going up, taxes are going up. Businesses are already stretched to their utter limit. And health insurance companies are hedging their bets for all the upcoming claims coming up in 2022.”
We receive a number of questions from our clients as we consult them on a variety of HR issues.
In this video, Rob and Jason discuss health insurance. They cover open enrollment, renewal increases, employer tips, how to save money with Employco’s buying power, and more.
Questions? We’re here to help, info@employco.com
On this month’s podcast Rob, Scott, and Jason discuss health insurance renewals. They cover new rates for 2022, stories of high increases, the effects of COVID-related claims, recommendations for employers on how to save money (from plan design changes to routine care), the importance of voluntary benefits/perks, and more.
From health care to our buying power, we’re always happy to help with any questions you may have: hr@employco.com
Check out our chart below for a full list of states that have upcoming minimum wage increases in 2022:
On Nov. 4, 2021, the Internal Revenue Service (IRS) announced new caps for employee and company 401(k) contributions in 2022:
| 2021 | 2022 | |
| Maximum employee elective deferral (age 49 and younger) | $19,500 | $20,500 |
| Employee catch-up contribution (age 50 or older) | $6,500 | $6,500 |
| Maximum employee elective deferral plus catch-up | $26,000 | $27,000 |
The new 2022 limits have been updated in our payroll system to ensure that the contributions from our clients’ employees do not exceed the annual dollar limits. Please let us know if you have any questions.
Employers are constantly looking for ways to attract and retain workers. These efforts often include tailoring benefits packages or adjusting compensation. While valuable offerings, these solutions don’t always address the needs of one critical workplace segment: part-time workers.
In some cases, part-time employees don’t qualify for benefits packages; in others, they are only offered limited perks. An obvious solution would be expanding all benefits to all employee segments, but that’s not feasible in many cases. Instead, employers can consider offering perks that speak directly to the unique needs of part-time workers. This article identifies two coveted workplace perks that part-time employees are looking for right now.
On Oct. 28, 2021, the U.S. Department of Labor (DOL) announced the publication of a new rule for tip regulations under the Fair Labor Standards Act (FLSA). The new rule clarifies that employers may only take a tip credit for tipped employees when these employees are performing work that is part of their tipped occupation. The new rule becomes effective on Dec. 28, 2021.
Workers can only be paid the tipped minimum, established under federal law at $2.13 per hour, for tasks that directly support tipped work and do not take up more than 20% of a worker’s time or 30 consecutive minutes.
On Nov. 4, 2021, the Occupational Safety and Health Administration (OSHA) announced a federal emergency temporary standard (ETS) to require affected employers to mandate employee vaccines or weekly testing. Click the following link to read our bulletin for more details on the OSHA ETS.
On Nov. 12, 2021, a U.S. federal appeals court affirmed its stay of the ETS requiring OSHA to “take no steps to implement or enforce” the ETS. OSHA has since announced that it “has suspended activities related to the implementation and enforcement of the ETS pending future developments in the litigation.” OSHA is believed to be weighing its options to continue to fight for the ETS.
A special thank you to our veterans and their families. We would like to express our appreciation and respect for their service and sacrifice. To all those who have served, and those who continue to serve – Happy Veterans Day.
