Author: decisely1

The insurance marketplace undergoes constant changes – meaning your benefits broker plays an essential role in your small businesses. Brokers serve as educators and advisors to your business’ benefits program. It is their job to keep you informed.

Ask yourself the following questions to learn what your benefits broker should be doing for your business:

1. How knowledgeable is your broker? Here’s how to ensure a broker really understands the world of benefits and insurance.

Healthcare options can be (at times) confusing. Your broker should give you the ability to understand the details of the plans available for your business. Plus, they should explain how those plans align with the goals of your business.

A broker should be able to discuss the difference between HRAs, reimbursement plans, COBRA, the Affordable Care Act, to include the pros and cons behind each of those, and more. If you find your broker cannot provide you with the information you need, it’s time to invest your resources elsewhere. Companies like Decisely have licensed brokers and customized healthcare plans to provide the most up to date information as well as custom plans for your business. All in all, a dedicated broker will know the right coverage to benefit you and your employees the most.

2. What does your benefits broker actually do for you? How to find the right strategic partner for your business.

As referenced in the previous point, you shouldn’t have to be the expert on benefits and insurance. Your broker should. Not only should they be credible, but they should also be able to guide you through every step of picking a plan. They need to be a partner to your business, with an understanding of the ever changing requirements to guarantee a seamless setup for anything from onboarding new hires to data management.

3. Is your broker legit? How to verify your broker’s qualifications.

This may seem like a fairly obvious point, but it is a good question to ask. No one wants a broker that doesn’t truly care about who they are assisting because they weren’t trained effectively. The plans that your broker helps you choose trickle down to your current and potential employees.

In order to build a positive relationship with your broker, they need to be willing to understand your goals, needs, and even the various positions that your company has or will be hiring for. You should feel comfortable viewing your broker as a teammate and they should act as such, too. In order to build this kind of strategic partnership, verify your broker’s license and ask around for recommendations and feedback from sources that you trust. A proper state license demonstrates that your broker was trained, educated, and certified to transact business.

4. Is your broker available? How to create an open channel of communication.

Open enrollment is not the only time to speak with your broker. Again, they need to be operating as the experts on all things benefits. If your benefits broker isn’t reaching out to you to discuss the needs of your business, the possibility of changing plans, or providing updates to information on healthcare reform, then they are not the best fit for you and your team. The simplest way to establish communication with your broker is to set up check-in points throughout different times in the year. Whether that’s once a month, or once a quarter – the amount needs to be right for you.

At Decisley, we offer numerous ways for our clients to get in touch – chat, email, phone – our licensed team is available for you and your employees. Make sure your broker is available when you need them.

5. Is your broker compliant? Here’s how to make sure.

As previously mentioned, changes in healthcare tend to be quick and can even be unexpected. It is crucial to have a broker that will help steer you in the right direction to ensure the best practices for your small business. For both federal and state laws, your broker needs to ensure that everything is falling within the legal standards. From HSAs to enrollment deadlines, you should never have to turn to attorneys or other resources in the legal industry – your broker should be able to answer any and all of your questions when it comes to these kinds of regulations.

All in all, you want a broker that is not only helpful, but also cares about the outcome of your business and the wellness of you and your employees. With the right broker, you can remain informed and up to date so that your business can continue to run efficiently.

As we all know, the world of healthcare can be confusing to navigate. But don’t worry, we’ve got you covered.

Check out our glossary of Affordable Care Act terms. It will help you understand the lingo surrounding the ACA so you can make informed decisions.

Accountable Care Organizations

The network of doctors, physicians, and hospitals that fall under the ACA. These organizations strive to live out the mission of the ACA: “to provide affordable, quality health care for all Americans and reduce the growth in health care spending.”

Bundled Payment

A part of Medicare and Medicaid that serves as payment for doctors to treat various ailments and illnesses.

Cadillac Tax

A tax that will take effect in 2020. This tax is mainly for employers – it allocates a 40% tax on any healthcare coverage that extends above $10,200 for individuals and $27,500 for families. Although you’ve got a few years, you may want to make a Post-It note for this one.

Community Rating

Have existing medical conditions or health problems? Don’t worry about those premiums. You can’t be charged additional premiums because of it thanks to the ACA. This term ensures that the price of coverage can only be changed based on how many people you cover (e.g. if you have dependents), if you use tobacco, and your age.

Defined Contribution Health Plans

These types of healthcare plans allow you as an employer to contribute a certain amount of money towards your employees’ healthcare. These contributions can be used to offset premiums.

Employer Mandate

This stipulates that employers must offer health coverage to their employees. For businesses that have 50 or more full-time workers, you must pay at least $2,160 for healthcare for every employee after 30 (e.g. the 31^st hired employee, then the 32^nd, etc.). For the healthcare provided, employers must pass the ACA’s affordability test – essentially that an employee should not have to pay over 9.5% of their income for their insurance.

Forms 1094 and 1095

These forms require insurers (e.g. employers) to provide the information of their health coverage to those that are covered (e.g. employees).

Full-Time Employee

Any employee that works 30 hours or more each week.

Individual Membership Associations

These associations allow civic groups to receive group coverage. Civic groups include church groups, Toastmasters, etc. In general, civic groups are groups that come together through volunteer work to improve the surrounding communities.

Preventive Services

Essentially, being proactive when it comes to your healthcare. The usual: going to get screenings and vaccinations, getting your blood pressure checked, etc. You know, all the things you need to do to be ready for the zombie apocalypse. 😉

Waiting Period

The time that someone must wait for their healthcare coverage to go into effect after gaining employment or submitting a health insurance application. 

Variable Hour Employee

Similar to how it sounds, it is an employee that works an unset amount of hours per week – sometimes it can be under 30 hours, and sometimes it can be over 30 hours.

You’re perusing the aisles at your local grocery store. You head over to the produce section and see the word “organic” plastered on different fruits, vegetables and packages. What comes to mind? Higher quality? Higher standards? Can someone point me in the direction of ice cream?

Well, a B Corp is the “organic” version of a for-profit company. B Corps are businesses that have undergone a certification process that confirms that the company meets certain societal and environmental stipulations. These companies are held accountable by B Lab, a nonprofit company that sets the standards for B Corp performance. One of the biggest advantages of partnering or working with a B Corp ensures you are aligning your business with a positive mission. And even more positive values. And who wouldn’t want that, right?

Certified B Corps “do business” for the greater good. They are societal enterprises that incorporate social goals with business goals.

There are currently 1,600 businesses that have received B Corp certifications, and Decisely happens to be one of them. Other notable names include Warby Parker, Patagonia, and Ben & Jerry’s. (You’re not the only one with ice cream on the brain.)

Here’s the thing about B Corps: we have to abide by these social standards. For example, in our office, we do everything environmentally friendly. We rarely use our printer (there’s a per page charge to the employee!), encourage composting and recycling, and stock our kitchen cabinets with reusable cups, plates, and utensils.

But it goes far more in depth than that. In order to become a B Corp, a business has to take an Impact Assessment, which is given by B Lab. And said business must score at least 80 out of the 200 possible points. The scope of issues that is covered include things such as: overseas vendors and the quality of their facilities, the use of renewable energy sources, and the transparency of information with employees.

B Corps are committed to both their partners as well as the surrounding communities. In doing so, we garner less pressure from investors because we are not solely profit-driven. Keeping social responsibilities at the forefront has many advantages. For one, pretty much all of us care about the world around us. And talented employees strive to find positions at companies that are socially conscious.

Not only that, but customers care about your company and the companies you work with, including what these companies stand for. By joining forces with a B Corp, you can enjoy all of those “guilty by association” perks.

The premise behind B Corps has been prevalent in business for quite some time. For instance, Johnson & Johnson have always stood by the idea that the company does not answer to investors, but to their end users (e.g. nurses, parents, patients, etc.). BMW has also implemented a Schools Environmental Education Development Project to educate students across the country about the most impactful environmental issues that we are facing today. The Lego Group has publicly stated its goal of running off of 100% renewable energy by 2020.

And all of these companies are consistently generating profits. Meaning financial success is not sacrificed for social good. By working with a B Corp, you can also better your business’ reputation and understand how to not only do business well, but do business “good,” too.

When we think of traditional brokers, we think of personal relationships and partnerships. When it comes to technology-based brokers, we think of opportunities to scale. But the real question is: how can the two connect?

The world of health insurance is rapidly evolving. Traditional brokers are a trusted source, and tech-based solutions provide new growth opportunities. You can reap the most benefits by understanding how they overlap.

Over the last few years, web-based benefits brokers have turned the traditional model on its head. But it doesn’t have to be one or the other. You do not have to sacrifice service for technology. Or expertise for efficiency. The happy medium is a give and take. Less in-person interaction, but guaranteed availability over the phone and email. Not to mention streamlined technology that makes onboarding and picking healthcare coverage extremely economical.

The need for tech brokers has grown as more and more people are turning to technology to ensure their businesses run smoothly. Decision makers are consistently looking for ways to integrate technology into their businesses to boost productivity and to break down barriers to information.

In some experiences with insurance, you hear of slow processes, red tape, and some even view choosing healthcare as a hassle. With the introduction of software solutions, these processes are now far simpler and much more user friendly. By choosing a broker that combines technology and tradition, you receive both resourceful infrastructure and knowledgeable customer service.

There is a balance between determining the level of guidance and customer service you need along with the savings in time and money. Tech-based solutions do not automatically mean traditional brokers are obsolete. Strategic and business relationships also have stemmed from said tradition. Service and support are not irrelevant to any business. In the same light, software that quickens the onboarding process and lets employees select and actually understand their healthcare coverage further drives the integration of technology into everyday life and everyday decisions. Not to mention it makes your life much easier.

So how can you have the best of both kinds of brokers? 

Brokers such as Decisely are combining technology with the benefits of a traditional brokerage. We offer platforms that make hiring and onboarding simple to lower the barrier to healthcare and benefits information. Essentially, we combine the one-to-one customer service and knowledge of traditional brokers with customized benefits plans and an easy-to-use cloud based software platform. It’s pretty awesome.

The gap between tech and traditional brokers is not as big as you think. There is a broker available that serves to close that gap. At Decisely, we take the benefits of the two groups to create a hybrid that is increasing efficient at reducing complexity for small businesses in every industry.

People are everything to us here at Decisely. But so are our pets.

Our culture is built on openness. Both in the layout of our offices as well as the way in which we treat everyone. Which is why we are more than welcoming to all of our four-legged friends. We love seeing Cooper, Grizzly, and Beatrice wandering around – looking at us with those adoring eyes, thereby reducing stress levels in all of us.

No really, it’s true. The International Journal of Workplace Health Management released a study in 2012 that shows employee stress is reduced with the presence of dogs in an office. So is employee absenteeism.

And if you’re thinking, dogs in an office? Wouldn’t you just want to spend all of your time playing with them? – think again. Pets in the office actually increase collaboration and productivity across teams. It’s a similar premise to the whole idea behind “breaking bread” with another person. Animals typically bring people together, so having a dog (or dogs) in the office can serve as conversation starters, can put people at ease, and more.

What else do our pups do for us? Besides playing Frisbee on lunch breaks and curling up by our feet to sleep, they also help to boost morale. And focus. Oh, and trust, too.

Let’s think about it: if you are a pet owner, and you leave your pet at home, you may be worrying about them being on their own. But if they are in the office with you, then that problem is, well, no longer a problem.  

But the real reason we have a pet friendly office policy is because we view our employees as far more than just employees. We invest in the person we get for 8 to 10 hours a day. It’s an investment in people’s lives as a whole. Not to get overly mushy over here, but having a positive and open work environment creates a win-win situation for everyone.

We aren’t the only ones, either. Companies such as Etsy, Google, and Amazon also encourage employees to bring their dogs into the office. Some of these bigger companies have even built play and exercise areas.

That’s not to say that we let our pets have run of the office. For any business considering a pet friendly policy, it is important to remember colleagues that may have allergies.  And, a general “rulebook” should be set so everyone understands the protocol for pups in the office. The health of everyone should always be the top priority.

 

When running a small business, every decision you make can be a crucial one. Time, resources – all things we probably need more of. Any opportunity to save money is a welcomed one. Section 125 of the Internal Revenue Code can help you and your employees save on taxes and healthcare expenses. Find out how below.

What is Section 125?

Section 125 is synonymous with cafeteria plans. Cafeteria plans can be used under two categories: premium only plans (POP) and flexible spending accounts (FSA). In a nutshell, cafeteria plans are a part of an employee benefits program that is available for small businesses. It allows employees to allocate a portion of their pre-tax salary to cover various medical expenses, for both themselves as well as dependents. Typically, POPs and FSAs are used to cover expenses that insurance does not cover. By putting money into either of these accounts, employees can save on the amount of taxes they pay on their income.

Here’s the catch: section 125 is not widely publicized so many small businesses do not realize they can use this part of the tax code to expand employee benefits and increase margins for the business. But now you’re in on the secret.

What is the Premium Only Plan (POP)?

As the name states, this plan gives employees the ability to pay for insurance premiums with pre-tax dollars. Eligible costs range from prescriptions to dental premiums to Medicare supplements.

What is a Flexible Spending Account (FSA)?

Similar to a POP, with an FSA, you can allocate a specific amount of pre-tax dollars into an account that is used for medical expenses for both employees and their dependents. The funds in this account can be used to cover out-of-pocket expenses. On average, employees can save between 20 and 40 percent on dependent expenses by taking advantage of an FSA. Small business owners can also contribute to employee FSAs to receive tax savings as well.

How does it all work?

Funds allocated to cafeteria plans are eligible to cover expenses for one year (365 days). The specific plan year is covered in your summary plan description. At the start of each plan year, employees are able to allocate a percentage (or a specific amount) of their income to cover out-of-pocket expenses.

One important thing to remember: these plans operate on a “use it or lose it” basis, meaning any unused funds are forfeited at the end of a plan year. So it is important for employees to not overestimate the amount of funds they want to set aside.

That being said, there is a 75-day grace period so that employees can use their remaining funds at the end of each plan year (meaning employees have an additional 75 days to use cafeteria plan funds after the plan year ends). More specifically, with FSAs, a carryover provision was implemented in 2013 where employees can carryover up to $500 of FSA funds from one plan year to the next.

As a small business owner or an HR manager, the best part is that cafeteria plans are incredibly simple to set up for your employees. This includes minimal set up costs as well. On average, the cost of implementation is covered by the tax savings you receive within the first year. Cafeteria plans are a great opportunity for both you and your team to save money in multiple ways.

We’ve all heard the story from someone we know: “my to do list is never ending!” More and more it seems everyone has less and less time. But our personal health shouldn’t have to take a backseat because of it.

Your average workday probably lasts at least 8 to 12 hours. But we were never made to be at a desk that long. Let alone sitting at a desk for that long. The effects of merely sitting can be enough to cause migraines and back pain.

But fear not, there are more than a few things you can do to keep your heart, head, and humanity intact.

To note, the U.S. Surgeon General recommends that all of us get in at least 30 minutes of aerobic activity 5 days a week. But based on a study conducted by the CDC, half of us aren’t even close to that.

Ready to increase your activity while you work? Here’s an energizing list of aerobic, strength, and stretching exercises to make your workday move again. Bonus: most you can do at your desk, too.

Aerobics

1. Tap Dance

Okay, not literally. But one great way to strengthen your shins is to simply tap your toes on the floor while you are sitting at your desk. Aim to move those toes faster and faster as you go. This may not get you to a Fred Astaire level, but hey – it doesn’t hurt to dream big.

2. Stairs, Stairs, Stairs

This one doesn’t need a whole lot of explanation. But if you want to improve your heart health, focus on taking the stairs rather than pushing the button for the elevator.

3. Take a Walk

To get coffee, get lunch, talk to a colleague – anything. Some people even use their lunch breaks to get a quick workout in at the nearby gym.

On a side note, general standing is also very beneficial. If you’re waiting for something to print or if you’re talking to a coworker, it’s all gravy.

Strength

1. Bum Blaster

This is much more low-profile than it sounds. All it really entails is you sitting at your desk, squeezing your glutes together for at least 5 seconds, and repeating as many times as you wish.

2. Leg Extension

Have an extra pack of unopened printer paper lying around? Use it to strengthen your quads. Balance it on the top of your feet, allowing it to rest against your shins, straighten your legs to raise and lower it under your desk.

3. Let’s Hold Hands

With ourselves, that is. This is one for the biceps. You can perform this move if you are reading a lengthy email or article. All you have to do while you are sitting at your desk is clasp your hands together in front of your chest and pull. Have one thumb pointing towards the floor, the other towards the ceiling, and resist the pull from both hands. Hold this move for at least 15 seconds. Rinse, lather, and repeat. Or in this case, just repeat.

4. The Swivel

If you have a chair that spins, this is an easy (but effective) one to work your core. Sit in your chair with your feet raised slightly off the ground, hold the edge of your desk, and use your oblique muscles to swivel your chair from one side to the other.

5. Your Main Squeeze

Another discreet one. Simple inhale deeply and flex your ab muscles. Hold this squeeze for a minimum of 10 seconds, and complete at least 10 reps at a time.

Stretching

1. Opposites Attract

Feeling a bit tense? The quick fix is to sit in your chair, turn your head slightly to the right and your torso to the left. And then switch sides.

2. Head Up

This stretch is ideal if you are at a keyboard for long periods of time. Clasp your hands behind your back, tilt your head up, and puff your chest slightly out and your hands downward and away from your lower back.

3. The Bee’s Knees

While sitting upright at your desk, bring one knee up at a time and hug it close to your chest.

Performing a few (or all) of these moves on a daily basis can greatly improve your health and well-being. Being a literal mover and shaker in the office can reduce your stress, increase your flexibility, and reduce long-term physical pain.

All so you can be just like the Energizer Bunny, and keep going and going and going.