General Industry
September 10, 2024
Pay-or-Play Affordability Percentage Will Increase for 2025
On Sept. 6, 2024, the IRS released Revenue Procedure 2024-35 to index the contribution percentage in 2025 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2025, employer-sponsored coverage will be considered affordable under the ACA’s “pay-or-play” rules if the employee’s required contribution for self-only...
September 5, 2024
OSHA Releases New Online Severe Injury Report Dashboard
On Sept. 4, 2024, OSHA released an online tool giving users the ability to search its severe injury report (SIR) database and view trends related to workplace injuries occurring in states covered by federal OSHA. Key Highlights OSHA requires that employers report all severe work-related injuries, such as amputations, in-patient hospitalizations or losses of an...
September 4, 2024
Preparing for the 2024 Election
Federal, state and local elections are scheduled for Tuesday, Nov. 5, this year. Employers should be aware of the number of ways elections impact the workplace. For instance, some employers are subject to voting leave requirements, and elections can lead to employee behavior challenges. As voting approaches, savvy employers can prepare by taking steps to...
August 22, 2024
Recent and Upcoming U.S. Supreme Court Cases Employers Should Monitor
In its 2023-24 term, the U.S. Supreme Court issued several consequential decisions that will likely have a significant impact on employers. These cases involved federal agency power, discrimination until Title VII of the Civil Rights Act (Title VII), whistleblower retaliation and arbitration. The Supreme Court’s next term, which starts Oct. 7, 2024, will also decide...
August 21, 2024
5 Risks of Hiring an Uninsured Contractor
Project owners or general contractors must carefully vet contractors to ensure jobsite safety and financial security. A critical factor in this selection process is verifying that contractors carry adequate insurance. Hiring uninsured contractors can expose a project to significant risks, including safety hazards, liability issues and potential financial losses. The following are five risks associated...
August 8, 2024
Early Preparation Is Crucial for 2025 Open Enrollment
The job market remains highly competitive as employers work to attract and retain today’s top talent. With the 2025 open enrollment season around the corner, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to win them over. Early preparation can help show employees they are valued, convince top performers...
August 7, 2024
How to Address Employee Burnout
Employee burnout is escalating globally, with a significant number of workers experiencing severe physical, emotional and mental exhaustion. The 2024 Global Talent Trends report reveals that approximately 82% of employees are at risk of burnout, primarily due to financial pressures and excessive workloads. Burnout occurs when long-term stress overwhelms employees’ ability to cope, leading to...
August 6, 2024
Factors to Consider When Estimating Maximum Loss of Business Income
Business interruption insurance can offer much-needed financial protection when an organization’s usual business activities are disrupted by covered perils (e.g., fires, theft, vandalism, heavy wind and hailstorms). Sometimes called business income insurance, this form of coverage can be purchased as a supplement to commercial property insurance or secured through a business owner’s policy—a bundled insurance...
August 1, 2024
Communicating HSA Rules to Employees
As part of the open enrollment process, employers that offer HSA-compatible HDHPs should help their employees understand the benefits of opening an HSA and making tax-free contributions. Employees may be confused about the rules surrounding HSAs and may not realize all the advantages associated with these accounts. CMR Risk & Insurance Services, Inc. can provide...
July 30, 2024
Report: Employers Plan to Raise Wages 3.9% in 2025
The latest Salary Budget Planning Report released by Willis Towers Watson (WTW) shows that salary budget increases are expected to rise by 3.9% in 2025. The overall median pay raise for 2024 dropped to 4.1%, compared with 4.5% in 2023. Although these expected wage increases have diminished since 2023, this figure remains high compared to...