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ICHRAs: Pros and Cons for Employers
An individual coverage health reimbursement arrangement (ICHRA) is a type of employer-funded health care account that provides an alternative to traditional group health plan coverage. Employers of all sizes may use ICHRAs to reimburse employees’ premiums for individual health insurance policies on a tax-free basis. Depending on their design, ICHRAs can reimburse other out-of-pocket medical…
USVI: AccuWeather Warns of Intense Hurricane Season 2024
Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year.
AccuWeather Warns of Intense Hurricane Season in 2024
Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year.
Workers Comp Insights: The First 24 Hours After an Injury
The moment an injury occurs, it initiates a sequence of events that can last for weeks or even months. But no matter how prolonged the recovery period, the first 24 hours after an injury are the most crucial. To respond effectively to an incident, the majority of the action items should occur within 24 hours.…
How Employers Can Navigate Attraction & Retention Challenges
Employers of all sizes continue to face attraction and retention challenges. Successful efforts to win over workers can require significant time and carry high costs, but failing to attract talent or losing existing employees is particularly costly for small businesses. Unfortunately, small businesses often don’t have the excess resources to invest in attraction and retention…
Is Your Benefits Package Sustainable? Anxiety Tops List of Mental Health-related Workplace Issues
Mental health provider ComPsych revealed that anxiety is the top mental health issue impacting workers. Nearly one-quarter (24%) of the individuals who contacted ComPsych for mental help assistance in 2023 were looking for help with anxiety. Last year, ComPsych facilitated more than 300,000 cases for American workers.
Understanding the Experience Modification Rating
One important aspect that plays a significant role in determining the cost of workers’ compensation insurance is the experience modification rating (EMR). This article delves into the concept of EMR, its calculation and its implications for employers.
Know Your Health Coverage Options
Specialty drugs, also known as specialty pharmaceuticals, are some of the most expensive prescriptions you can buy—costing up to $2,000 or more per month. Unfortunately, they may also be the only option for many people with complex and untreatable conditions. Specialty drugs are expensive prescription medications used to treat chronic, complex conditions. Individuals who have…
Trucking Industry Trends to Watch in 2024
Trucking industry conditions are constantly evolving, and businesses in the truck transportation subsector need to be aware of the changing landscape to maintain operational success. This year, trends that could impact the industry include economic challenges, driver shortages, social inflation contributing to rising commercial auto insurance rates, and utilizing electronic vehicles (EVs) in compliance with…
Breaking Down Common Commercial General Liability (CGL) Policy Exclusions
Commercial general liability (CGL) insurance is an essential form of coverage for any organization. Such a policy can provide much-needed financial protection if an organization is held liable for injuring third parties or damaging their property amid nonprofessional negligent acts or in the course of its usual business operations. This type of insurance may also…
Uninsured Subcontractors Can Be Costly
Subcontractor liability insurance is a must for property owners and general contractors. If subcontractors are uninsured it can leave everyone exposed.
What’s a MOD and How Can it Impact my Construction Projects?
Worker's Compensation is a complex issue for most businesses to manage. If you aren't attentive to it, your construction company may be liable for injuries.