Improving Your Self-Discipline
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Self-discipline is an important skill that can help you reach personal and professional goals. Developing self-discipline is like strengthening a muscle, as it can be improved with practice. This skill can make difficult tasks seem more manageable and help you achieve your long-term goals.
Understanding Self-discipline
The term “self-discipline” describes your ability to focus on a task or goal to accomplish something. Self-disciplined individuals are generally consistent, responsible, persistent and ambitious. They may have a strong work ethic and can successfully finish tasks that must be completed, even when they find it difficult to do so.
In the workplace, self-discipline can take many forms. Generally, self-disciplined workers will complete both exciting and uninteresting tasks on time. They are also likely to have a productive mindset that enables them to meet goals and reach milestones.
Improving Self-discipline
Like any skill, self-discipline can be refined with practice, and you may only sometimes be successful. Persevering even when you fail is crucial to reaching your long-term goals.
Here are some tips for improving self-discipline:
- Start small. Choose an area of your life that could benefit from greater self-discipline and begin with a simple task, like being on time daily. Practice discipline in this area until it becomes a habit.
- Challenge your mindset. Your thought patterns may be holding you back. Try confronting your notions of what you can and cannot achieve to accomplish more.
- Find ways to focus. Try dividing a large task into several smaller assignments if you’re having trouble completing it. Take breaks when needed to increase motivation and boost energy.
- Schedule time for high-priority tasks. Although multitasking may be necessary throughout the day, creating time to focus on certain essential duties can help you avoid potential distractions and maximize your attention span.
- Avoid distractions. You may be tempted to look at your phone or chat with a co-worker when completing a tedious task, but resisting these temptations can improve your self-control, strengthening your self-discipline in the long run.
- Set achievable goals. Motivate yourself by setting goals that can be accomplished and working toward them. Use your successes to encourage yourself to keep practicing.
Conclusion
Self-discipline can make the difference between knowing your goals and achieving them. Setting small, achievable goals and staying focused when working on tedious or repetitive tasks can help you become more disciplined. This can help you accomplish your personal and work-related goals in the long run.
Contact your manager for further guidance on self-discipline practices at work.
- Published in Blog
The RISQ RECAP:
May 22th – May 26th, 2023
Each week, you’ll find specially curated news articles to keep you up to date on the ever-evolving world of insurance and risk management. The articles are divided out between items relevant to Property & Casualty, Employee Benefits/Human Resources, and Compliance. We’ve included brief summaries of each item as well as a link to the original articles.
PROPERTY & CASUALTY
Bill Would Offer Crop Insurance Discount to Farmers Who Plant Cover Crops
“A bipartisan bill proposed by federal lawmakers would provide farmers a discount on crop insurance premiums by planting cover crops. The Conversation Opportunity and Voluntary Environment Resilience (COVER) Act, proposed last week by Sen. Sherrod Brown, D-Ohio, and Reps. Sean Casten, D-Ill., Elissa Slotkin, D-Mich., and Mike Bost, R,-Ill., would amend the Federal Crop Insurance Act to establish a program that rewards farmers who plant cover crops with a $5/acre discount on crop insurance. The legislation is based off programs in place in Indiana, Iowa, and Illinois. A cover crop is any crop grown to cover the soil and may be incorporated into the soil later for enrichment, according to the USDA. Cover crops, which include legumes, grasses, and forbs, help with soil erosion, improve soil health and crowd out weeds. They are typically planted in September or October. A 2023 study published in the American Journal of Agricultural Economics found that counties with higher rates of cover crop adoption tend to have lower levels of crop insurance losses.” Full Article
– Insurance Journal
EMPLOYEE BENEFITS, HUMAN RESOURCES, & COMPLIANCE
Executive Summary: Tracking Telehealth Changes State-by-State in Response to COVID-19 ““Updated May 19, 2023. Descriptive list of current and proposed state and federal guidance, regulations, and legislation.” Full Article – Manatt, Phelps & Phillips LLP
More Federal Action in the Pharmaceutical Sector as PBM Bill Advances in the Senate “The Pharmacy Benefit Manager Act reflects the overarching legislative push by members from both sides of the aisle and chambers of Congress to address drug pricing issues through federal fixes to the PBM framework.” Full Article – Epstein Becker & Green, P.C.
Fifth Circuit Stay Reinstates Preventive Services Mandate — For Now “Plan sponsors should remember that the Fifth Circuit administrative stay is not a decision on the merits of the underlying case. The Fifth Circuit pressed pause on the district court order so that the pre- Braidwood preventive services mandate would remain intact for now while the case proceeds.” Full Article – Proskauer Rose LLP
IRS Announces 2024 Limits for Health Savings Accounts, High-Deductible Health Plans and Excepted Benefit HRAs “All of the dollar limits currently in effect for 2023 will change for 2024, with the exception of one limit. The HSA catch-up contribution for individuals ages 55 and older will not change as it is not subject to cost-of-living adjustments.” Full Article – McDermott Will & Emery
Providers Score More Victories in First Year of NSA Arbitrations ““In the year following the implementation of the arbitration process established under the federal No Surprises Act (NSA), more than 330,000 disputes have been submitted for resolution. This figure far outpaces the predictions of the US Departments of Health and Human Services (HHS), Labor, and the Treasury (the Departments), and complicates the implementation of the NSA.” Full Article – ArentFox Schiff LLP
First Gag Clause Attestations Due December 31, 2023- What Group Health Plan Sponsors Need to Know “Plan sponsors and carriers of fully insured plans are both required to submit a Gag Clause Prohibition Compliance Attestation (GCPCA). FAQs Part 57 provide that if the insurance carrier submits the GCPCA on behalf of the plan, the Departments will consider the plan (and insurer) compliant. Sponsors of fully insured plans, however, should confirm that the carrier will be submitting the GCPCA on the plan’s behalf.” Full Article – Hunton Andrews Kurth LLP
STATE & INTERNATIONAL COMPLIANCE
In addition to the RISQ Review, RISQ Consulting also provides a resource that features changes and updates to State and International Compliance measures. We’ve included brief summaries of each item below, and also provided links to the original articles if you’d like to read further.
FLORIDA
Florida Poised to Mandate Use of E-Verify for Private Employers
“The Florida Legislature has passed a bill that, if enacted, will require private employers with 25 or more employees to use the federal E-Verify system to verify the employment eligibility of newly hired employees beginning July 1, 2023. The bill, SB 1718, is expected to be signed into law by Governor Ron DeSantis.” Full Article
– Proskauer Rose LLP
NEW YORK
New York Minimum Wage to Increase Again
“The Fiscal Year 2024 New York State Budget (the “Budget”) includes a multi-year plan to increase the State’s minimum wage starting on January 1, 2024. The new statutory minimum wage rates apply to all New York employers regardless of size.” Full Article
– Seyfarth Shaw LLP
MARYLAND
Maryland Modifies its Paid Family and Medical Leave insurance Program
“Maryland became the eleventh state (in addition to the District of Columbia) to adopt a statewide family and medical leave program (the “Program”). The Maryland General Assembly recently concluded its 2023 session and passed modifications to the Program.” Full Article
– Littler Mendelson P.C.
WASHINGTON
Washington State to Bar Employers from Relying on Off-Duty Use of Marijuana in Hiring Decisions
“The state of Washington will prohibit employers from making hiring decisions based on off-duty use of cannabis or positive pre-employment drug test results that find an applicant to have non-psychoactive cannabis metabolites in their hair, blood, urine, or other bodily fluids. The new law (SB 5123) takes effect on January 1, 2024.” Full Article
– Jackson Lewis P.C.
ILLINOIS
Illinois Department of Labor Amends Regulations on Employer Reimbursement of Employee Expenses
“The regulations establish a new five-factor test for assessing whether an employer must reimburse expenses. The amended regulations also impose new record-keeping requirements on employers.” Full Article
– Barnes & Thornburg LLP
- Published in Blog
Pay Equity Audits
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
It’s becoming clear that pay transparency is not a passing trend. Pay transparency is the practice of an employer openly communicating pay-related information through established methods to current and prospective employees. In 2021, Colorado was the first jurisdiction to enact pay transparency laws. Since then, more states and localities have enacted such laws; by the start of 2023, a fifth of all U.S. workers were covered under pay transparency laws. The nationwide normalization of pay transparency is leading employers to prioritize pay equity. Additionally, the recent dramatic increase in equal pay litigation, sometimes resulting in multimillion-dollar settlements, has more employers addressing pay equity issues.
Despite this increased focus, many employers may not know where to begin when implementing pay equity measures. For most employers, utilizing pay equity audits is the likely answer. These audits can be a powerful tool for employers to evaluate and ensure they comply with federal, state and local pay equity laws.
This article provides a broad overview of pay equity and discusses the importance of pay equity audits.
What Is Pay Equity?
Pay equity is the practice of compensating employees the same when they perform the same or similar job duties while accounting for factors such as experience, job performance and tenure. This practice takes into account all forms of compensation, such as salary, overtime pay, bonuses, stock options, profit sharing and bonus plans, life insurance, vacation and holiday pay, cleaning or gasoline allowances, hotel accommodations, reimbursement for travel expenses and other benefits.
Employees’ right to be free from discrimination in their compensation is protected under several federal laws, including the Equal Pay Act of 1963 (EPA), Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967 and the Americans with Disabilities Act of 1990. For example, the EPA requires that men and women be given equal pay for equal work in the same establishment. The jobs need not be identical, but they must be substantially similar. It is job content, not job titles, that determines whether jobs are substantially similar. Specifically, the EPA provides that employers may not pay unequal wages to men and women who perform jobs that require substantially equal skill, effort and responsibility and that are performed under similar working conditions within the same establishment.
Why Is Pay Equity Important?
Ensuring employees are paid equitably can help increase organizational efficiency, productivity and profitability. Employers who prioritize pay equity may experience the following benefits:
- Improved workforce productivity and morale
- Increased organizational commitment
- Reduced employee turnover
- Increased attraction of key talent
- Decreased risks of discrimination or pay inequity lawsuits
- Greater compliance with equal pay laws and regulations
What Is a Pay Equity Audit?
A pay equity audit is the process of analyzing compensation data of employees doing similar work within an organization. It can be an effective tool for providing employers with information to identify pay disparities among workers. Performing pay equity audits can help employers determine if any pay discrepancies are based on legitimate, nondiscriminatory reasons, such as seniority or education. If pay discrepancies cannot be explained by nondiscriminatory reasons, the audit allows employers to correct them.
The purpose of pay equity audits goes beyond just identifying whether pay disparities exist but helps explain why they exist. This can include reviewing specific pay decisions and policies. Such audits can help employers evaluate and improve their compensation practices, address pay gaps and limit potential legal risks. In some states, conducting a self-audit of pay practices can protect employers against legal claims based on pay inequities.
Benefits of Pay Equity Audits
Pay equity audits can help organizations identify and correct pay discrepancies, reducing potential legal risks. They can also increase employee morale and productivity. Ensuring employees are paid equitably for their work helps strengthen an organization’s culture. Employee morale, turnover and retention rates, and performance often improve when workers feel valued. Paying employees the same when they perform the same or similar jobs is a key component of helping workers feel valued, which can lead to generally more committed and productive employees. In turn, this helps drive organizational productivity and profitability.
Additionally, pay equity audits can help employers develop better workplace policies and procedures related to compensation. This can include establishing consistent starting pay ranges, factors for merit increases and promotions, as well as other incentives. Audit results can also inform an employer’s training efforts to ensure fair pay decisions are made throughout the organization.
Risks of Pay Equity Audits
While an organization’s intentions behind conducting pay equity audits are often noble—determining whether pay disparities are lawful and, if not, correcting them—audit results can be extremely damaging if disclosed. Inadvertent disclosure of audit results or analysis can harm an organization’s reputation and expose it to lawsuits or other legal action.
To protect against these potential risks, many employers utilize the attorney-client privilege or work product doctrine when conducting pay equity audits. Employers can do this by engaging legal counsel to initiate and lead the audit. Employers can also determine how best to communicate pay equity audit results to their employees and incorporate those results into organizational pay practices.
Takeaway
Conducting pay equity audits can be an effective way to ensure employees are paid equitably for the work they do. However, these audits are often only the first step for addressing pay equity issues in the workplace.
For more workplace resources, contact RISQ Consulting today.
- Published in Blog
I Screen, You Screen, We All Screen With Sunscreen!
By Jennifer Outcelt, Creative Content Architect
Ah, finally, the warm embrace of the Alaskan sun! While it brings joy to our frozen hearts and some much-needed Vitamin D, it also brings many potential risks. But just like you put on a down coat to protect your skin from the harsh winter, so must you put on daily layer of sunscreen protect against harmful ultraviolet (UV) rays. Let’s take a stroll (perhaps with a parasol?) through the history of sunscreen, exploring its development and the crucial role it plays in preventing cancer and other illnesses.
The quest for sun protection dates back centuries. Ancient civilizations instinctively sought ways to shield themselves from the sun’s scorching rays. While finding shade was always the simplest solution, it was not always the most practical for ancient people on the go. And since the umbrella hat would not be invented until 1880, alternative mobile sun shielding technologies were needed. Ancient Egyptians crafted primitive sunscreens using ingredients like rice bran and jasmine extract. In China, rice paste and white lead were employed, creating a pale complexion which doubled to symbolize social status through sun avoidance.
Fast forward to the 20th century, where brilliant minds began paving the way for modern sunscreen. In 1938, a Swiss chemist named Franz Greiter invented the world’s first commercial sunscreen, introducing the concept of Sun Protection Factor (SPF). However, it was not until the 1970s that sunscreen gained mainstream popularity and recognition for its vital role in safeguarding skin health.
With growing awareness of the link between sun exposure and health risks, the importance of sunscreen soared. Sunscreen formulations became more advanced, offering improved protection against both UVA and UVB rays. Research unveiled the direct correlation between unprotected sun exposure and skin cancer, prompting organizations like the American Cancer Society to advocate for regular sunscreen use.
The significance of sunscreen extends beyond preventing skin cancer. Prolonged exposure to UV radiation can lead to sunburn, premature aging, and eye damage, including cataracts. By applying sunscreen, individuals can shield themselves from these harmful effects and maintain healthier, more youthful-looking skin. Sunscreen also plays a crucial role in preventing other types of cancer. Lips, for instance, are susceptible to UV damage, making the use of lip balm or lip-specific sunscreens vital. Moreover, sunscreen protects against squamous cell carcinoma, basal cell carcinoma, and even melanoma— the most aggressive form of skin cancer. Any suspicious spots you find on your body (new or enlarging spots, larger than a pencil eraser head, irregular edges, discolored areas, scaly, etc.) should be looked at by a dermatologist.
With modern society fully aware of the importance of sunscreen (though some still choose to ignore it’s benefits), it is now an integral part of personal care as well as numerous industries. From lotions, clays, and sprays to gels and sticks, sunscreen has evolved to offer convenient and effective options for everyone. Outdoor workers, Lifeguards, athletes, and even children at schools and summer camps are encouraged to use sunscreen regularly. Moreover, clothing and accessories with built-in UV protection have become increasingly popular, providing an extra layer of defense against harmful cancer-causing rays.
Sunscreen has come a long way from ancient concoctions to modern-day sun shields. Its historical development and the mounting evidence of its importance in preventing cancer and other illnesses have solidified its status as a must-have in our daily routines. Hopefully this shed some light on why you might not want so much light shed on your skin. So say it with me folks, “I Screen, You Screen, We All Screen with Sunscreen!”
- Published in Blog
The RISQ RECAP:
May 15th – May 19th, 2023
Each week, you’ll find specially curated news articles to keep you up to date on the ever-evolving world of insurance and risk management. The articles are divided out between items relevant to Property & Casualty, Employee Benefits/Human Resources, and Compliance. We’ve included brief summaries of each item as well as a link to the original articles.
PROPERTY & CASUALTY
Consistent Policy Wording Bringing Some Relief to Evolving Cyber Market
“Consistency within cyber insurance policies is something the industry has been grappling with for nearly a decade, according to speakers at the annual RIMS Riskworld conference, held this year in Atlanta, but the industry is beginning to see a light at the end of the tunnel. “I can’t underscore enough how much better the cyber marketplace has gotten in that regard,” said William Bennett, partner at Saxe Doernberger & Vita. “There are still policies with two insuring agreements and policies with 25 agreements and 400 definitions, but at least now they largely get to the same place.” Bennett was speaking during a session about cyber coverage responses to the current global risk climate on the second day of the conference. Thomas Francavilla, director of insurance programs at Stratus Risk Associates, was speaking alongside Bennett. He pointed to an example of an exercise the Stratus team recently did with a broker client that is 51 percent owned by a banking group. The company was transitioning away from having standalone cyber policies in place for each broker in favor of one parent-owned cyber policy.” Full Article
– Insurance Journal
EMPLOYEE BENEFITS, HUMAN RESOURCES, & COMPLIANCE
OSHA Launches Nationwide Program Focusing on Workplace Falls “For the last 12 years, 29 CFR 1926.501 (Duty to Have Fall Protection) has topped OSHA’s list of most frequently cited standards. Despite the agency’s enforcement efforts, falls from heights remain the leading cause of fatalities and serious injuries across all industries.” Full Article – Littler Mendelson P.C.
Best Practices for Handling and Documenting a Non-Performing Employee “Addressing an employee’s failure to meet performance expectations can be challenging for an employer. This article highlights best practices for handling and documenting a non-performing employee.” Full Article – Venable LLP
5 Steps for Managing Layoffs and Workplace Reductions “No one likes to think about layoffs and workforce reductions, but they are a reality from time to time, especially when market conditions are uncertain or unfavorable. Although workforce reductions are unfortunate, there are things that employers can do to facilitate a smooth transition and protect against legal consequences.” Full Article – Levenfeld Pearlstein, LLC
Bueller? Bueller? EEOC Examining Attendance Policies for ADA Violations “Do you have a “no fault” attendance policy or some other way in which employees get points for absences? If so, be careful. A recent Eleventh Circuit matter, EEOC v. Eberspaecher North America, Inc. suggests that the Equal Employment Opportunity Commission (EEOC) wants to check out those policies to see if there is an ADA violation and may want to expand its search beyond one facility.” Full Article – Bradley Arant Boult Cummings LLP
EEOC Offers “Promising Practices” for Battling Workplace Harassment “The Equal Opportunity Employment Commission (EEOC) released what it describes as “Promising Practices for Preventing Harassment” with detailed recommendations in the categories of (1) Leadership and Accountability, (2) Comprehensive and Effective Anti- Harassment Policy, (3) Effective and Accessible Anti-Harassment Program and – Phelps Dunbar LLP
(4) Effective Anti-Harassment Training.” Full Article
Compliance Update for U.S. Employer Conducting Criminal Background Checks in the Hiring Process “Employers who conduct background checks on applicants or employees must comply with the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq. Among other things, the FCRA requires employers who procure criminal background reports (“consumer reports”) to provide applicants and employees with a Summary of Rights form as prepared by the Consumer Financial Protection Bureau (CFPB) when providing them with the FCRA-required pre-adverse action notices.” Full Article – Hunton Andrews Kurth, LLP
STATE & INTERNATIONAL COMPLIANCE
In addition to the RISQ Review, RISQ Consulting also provides a resource that features changes and updates to State and International Compliance measures. We’ve included brief summaries of each item below, and also provided links to the original articles if you’d like to read further.
FLORIDA
Florida Poised to Mandate Use of E-Verify for Private Employers
“The Florida Legislature has passed a bill that, if enacted, will require private employers with 25 or more employees to use the federal E-Verify system to verify the employment eligibility of newly hired employees beginning July 1, 2023. The bill, SB 1718, is expected to be signed into law by Governor Ron DeSantis.” Full Article
– Proskauer Rose LLP
NEW YORK
New York Minimum Wage to Increase Again
“The Fiscal Year 2024 New York State Budget (the “Budget”) includes a multi-year plan to increase the State’s minimum wage starting on January 1, 2024. The new statutory minimum wage rates apply to all New York employers regardless of size.” Full Article
– Seyfarth Shaw LLP
MARYLAND
Maryland Modifies its Paid Family and Medical Leave insurance Program
“Maryland became the eleventh state (in addition to the District of Columbia) to adopt a statewide family and medical leave program (the “Program”). The Maryland General Assembly recently concluded its 2023 session and passed modifications to the Program.” Full Article
– Littler Mendelson P.C.
WASHINGTON
Washington State to Bar Employers from Relying on Off-Duty Use of Marijuana in Hiring Decisions
“The state of Washington will prohibit employers from making hiring decisions based on off-duty use of cannabis or positive pre-employment drug test results that find an applicant to have non-psychoactive cannabis metabolites in their hair, blood, urine, or other bodily fluids. The new law (SB 5123) takes effect on January 1, 2024.” Full Article
– Jackson Lewis P.C.
ILLINOIS
Illinois Department of Labor Amends Regulations on Employer Reimbursement of Employee Expenses
“The regulations establish a new five-factor test for assessing whether an employer must reimburse expenses. The amended regulations also impose new record-keeping requirements on employers.” Full Article
– Barnes & Thornburg LLP
- Published in Blog
Financial Safety Nets for Employees
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Money is a top stressor for employees, and a looming recession has reinforced that fact. Employers are uniquely poised to help support employees with much-desired financial guidance and resources. When employees experience less financial stress, employers may see greater employee productivity and morale and lower absenteeism. Those positive feelings can also translate into a strong employee retention rate and help employers attract top talent. Economic recovery will take some time, but voluntary benefits could help decrease employees’ financial stress.
More employers are looking for ways to help employees save for unexpected financial emergencies. This article explores ways that employers can offer financial safety nets for employees.
Employer Considerations
The reality is that many Americans worry about covering living expenses and unexpected expenses. In fact, 57% of U.S. adults are unable to afford a $1,000 emergency expense, according to Bankrate’s Annual Emergency Fund Report. Lacking sufficient funds to pay for a major medical emergency or other urgent needs can jeopardize an employee’s food and housing security for several years.
A financial safety net will mean different things to employees, depending on their age and personal financial goals. The following common employee benefits can offer valuable financial protection:
- Life insurance—Employer-sponsored coverage can be offered in a variety of ways. Employers may offer a term policy, permanent coverage or both. Though life insurance is an important asset for future financial security, many employees don’t realize its importance. Teaching employees about the value of life insurance may increase loyalty to the organization as they better appreciate this benefit.
- Disability insurance—Disability insurance has become an increasingly valuable part of a comprehensive employee benefits package and can fill gaps in financial protection offered by other programs, such as Social Security. While employees appreciate the peace of mind they receive as their income replacement benefits are being paid, employers can use the resources offered by insurers to manage time and productivity losses and find the most effective ways to return employees to work.
- Retirement accounts—Whether employees are close to retirement or have decades left in the workforce, saving for retirement is a key component of their financial security. Offering a 401(k) account or other retirement benefits as part of employee benefits packages can increase employee loyalty, especially if employers offer a contribution match. Good retirement benefits are also a great recruitment and retention tool. However, benefits are only helpful if employees are aware of and understand them.
- Financial planning or coaching—Employee assistance programs support workers facing various challenges, including financial ones, by offering resources and counseling. Employees with access to financial education and tools are more likely to increase their savings and make progress toward their financial goals. Furthermore, employees with a plan or access to help are less likely to feel stressed or overwhelmed by their financial situations.
- Emergency savings fund—An emergency savings fund helps offer peace of mind and resources employees may use instead of their retirement savings or other accounts. Employers can offer guidance for starting an emergency savings fund regardless of how much employees may have for an initial investment. Many employees may believe they don’t have enough money to build one, but employer-provided education and guidance can help them understand that even a small amount of cash can help start an emergency savings fund. An alternative approach for employers may be to offer an employer-sponsored emergency savings account alongside traditional benefits. Although an emergency savings account is a top benefit wish of many employees, very few employers offer them. Still, by helping employees build emergency savings funds, employers can boost their workers’ confidence in navigating finances and increase happiness in the workplace.
- Student loan debt assistance—Student loan debt weighs heavy on many employees in the United States, but some employers are trying to help by offering student loan debt assistance. Employers can offer various forms of support beyond loan repayments, such as student loan payment counseling, third-party low-interest or interest-free educational loans, debt consolidation, and refinancing services.
Summary
Ultimately, having a financial safety net can translate into peace of mind for employees. As more employers consider ways to help employees save for unexpected financial emergencies, they can offer employee benefits that help workers achieve their financial goals and save more of their hard-earned money for both expected and unexpected expenses.
Contact RISQ Consulting for additional resources.
- Published in Blog
Medicare Mayhem – How to Navigate Medicare in Alaska
By Alison Nelson, Employee Benefits Account Manager
“I’m turning 65 and need to learn more about Medicare. What do I do?” This is a common and very valid question that I’m often asked. Medicare is daunting, and with 75% of Medicare beneficiaries worrying about affording costs beyond premiums, you’re going to want to understand all of your options.
I want to start by noting that I am not a Medicare expert. However, before you scroll away, I can provide some tools and resources that could be helpful in your Medicare journey.
A great first resource is medicare.gov. I know, I know. The government’s Medicare website for info on Medicare… revolutionary! But it truly is a great and underutilized site that breaks down the ins and outs of Medicare. In summary, there are four main plans with additional coverage available:
- Medicare Part A: Hospital Coverage
- This is often free and is automatic if/once enrolled in social security.
- Medicare Part B: Provider Coverage
- $170.10/month (or higher depending on income).
- We see most people waive Part B as long as they are enrolled in a qualified employer-sponsored health plan.
- Part B has no out-of-pocket maximum, so you would be responsible for 20% of expenses with no cap – this can add-up quickly. If employer coverage is terminated, we often recommend enrolling in a Medigap or Medicare Supplemental policy. This puts a “stopgap” or out-of-pocket limit to expenses. If this coverage is obtained following the loss or termination of qualified coverage, you can likely forego underwriting. If Medigap is waived at initial eligibility and obtained later, underwriting is likely – meaning if there are pre-existing conditions, you could be denied coverage.
- Medicare Part C: Medicare Advantage
- Part C is offered by Medicare-approved private companies that must follow rules set by Medicare. Medicare Advantage Plans include Part A and B coverage, and many include Part D drug coverage as well. However, it’s important to note that Part C is not available in Alaska.
- Medicare Part D: Prescription Coverage
- The costs vary by plan
- Medigap or Medicare Supplemental Coverage
- You are able to obtain supplemental coverage if enrolled in Part A & B.
- RISQ Consulting has a dedicated individual who is appointed by Medicare and is able to assist with Premera Medicare Supplemental Plans. There are no fees for her service.
- An additional popular Medicare Supplemental plan is with United Health Care through AARP.
Another resource, and one of the most comprehensive and digestible guides, is the Medicare & You 2023 Guide.
However, my number one recommendation is to reach out to the amazing folks at the Alaska Medicare Information Office! This is a free service for Alaskans by certified Medicare professionals. These pros are able to provide personalized recommendations and can walk you through the complexities of Medicare.
Becoming Medicare eligible can seem overwhelming, but with the right tools and resources, you’ll be able to navigate it like a pro. And, as always, if you have any questions or need to be pointed in the right direction, RISQ Consulting can help.
- Published in Blog
The RISQ RECAP:
May 8th – May 12th, 2023
Each week, you’ll find specially curated news articles to keep you up to date on the ever-evolving world of insurance and risk management. The articles are divided out between items relevant to Property & Casualty, Employee Benefits/Human Resources, and Compliance. We’ve included brief summaries of each item as well as a link to the original articles.
PROPERTY & CASUALTY
FEMA Releases New Flood Insurance Rates by ZIP Code. Brace for Impact.
“When the Federal Emergency Management Agency unveiled its new Risk Rating 2.0 methodology for calculating flood insurance, advocates and critics alike warned that it would mean higher premiums for thousands of property owners, especially in low-elevation coastal areas. Now, the full impact of the sticker shock is becoming clear, thanks to new data released by FEMA that shows price increases – and decreases – by county and by ZIP codes. For some parts of Florida, including the appropriately named Hell Gate on the East Coast, flood insurance will spike an average of 342%, according to the Miami Herald, which analyzed some of the data.” Full Article
– Insurance Journal
EMPLOYEE BENEFITS, HUMAN RESOURCES, & COMPLIANCE
Payor/Provider Convergence and What it Means for You “Health care providers are increasingly taking financial risk in their contracts with health insurance companies and, in turn, health insurance companies are becoming more involved in the delivery of care.” Full Article – Foley & Lardner LLP
PHIPAA Privacy Rule Changes Coming in 2023: Five Steps to Prepare “If HHS finalizes the Proposed Rule as written, HIPAA-covered entities and business associates must update their privacy policies and procedures, security standards, notices of privacy practices (NPP), authorization and disclosure forms, and business associate agreements, among other documents, to reflect the modifications required by the rulemaking.” Full Article – McGuireWoods
IRS Chief Counsel Discusses Cafeteria Plan Substantiation Rules “The IRS Office of Chief Counsel has issued Memorandum Number 202317020 to explain the substantiation rules for claims made under health and dependent care FSAs by means of six commonly encountered factual situations, in five of which it concludes that the plan is not a cafeteria plan and the reimbursement is not shielded from income and employment taxes.” Full Article – The Wagner Law Group
Evolving Laws and Litigation Post-Dobbs: The State of Reproductive Rights as of May 2023 “It has been almost a year since the US Supreme Court returned the question of abortion to the states, resulting in a proliferation of legislation across the country banning, restricting, expanding, or protecting access to abortion. Employers will need to continue monitoring this area closely to ensure that their policies and benefit plans comply with state and federal requirements.” Full Article – Morgan, Lewis & Bockius LLP
Can a Telehealth-Only Plan Continue After the End of the COVID-19 Emergency? “If the PHE ends on May 11, 2023, a calendar year telehealth-only plan could remain covered by the exemption until the end of 2023. But if the plan year is, for example, June 1-May 31, the relief applies only until the end of the current plan year on May 31, 2023; as of June 1, 2023, that plan would have to comply with the preventive services mandate and the prohibition on annual and lifetime limits.” Full Article – Thomson Reuters/EBIA
First Circuit Holds Blue Cross Was Not a Fiduciary When it Allegedly Overpaid, Reprices, and Mishandled Benefit Claims “The court was unpersuaded by the arguments of the Fund and its amici (including the DOL) that finding Blue Cross to be a nonfiduciary would lead to anticompetitive practices that concededly could harm plans and their participants. Thus, based on ERISA’s far from pellucid statutory definition of fiduciary, the First Circuit allowed Blue Cross to evade fiduciary responsibility to the tune of $1.4 million in plan losses caused by its medical claims pricing and payment practices.” Full Article – Kantor & Kantor LLP
STATE & INTERNATIONAL COMPLIANCE
In addition to the RISQ Review, RISQ Consulting also provides a resource that features changes and updates to State and International Compliance measures. We’ve included brief summaries of each item below, and also provided links to the original articles if you’d like to read further.
NEW JERSEY
New Jersey’s Temporary Workers’ Bill of Rights is First in the Nation to Require Equal Pay for Temporary Workers
“This new law, the most expansive of its kind in the nation, provides ‘temporary workers’ with new rights and protections, including the right to receive pay equal to that of regular employees.” Full Article
– Ford Harrison
CALIFORNIA
On-Call/Standby Time: Do We Really Have to Pay Employees When They Are Not Working?
“Disputes regarding whether employees are entitled to be paid for time spent engaged in certain activities are increasingly common, and claims alleging that employees should be paid for time spent ‘on call’ or ‘on standby’ are prime examples.” Full Article
– Hopkins & Carley
California Lawmakers Vote in Favor of Defamation Protection for Sexual Assault Survivors
“Following the #MeToo movement, experts noted an uptick in defamation lawsuits against accusers. These lawsuits are typically brought by the accused and seem aimed at rehabilitating their reputations and, some would say, silencing the victims.” Full Article
– Frankfurt Kurnit Klein & Selz P.C.
INDIANA
Indiana Bans Physician Non-Competes for Primary Care Physicians, Adds Restrictions for Others
“Indiana’s legislature has passed an amendment, Senate Enrolled Act No. 7. Senate Enrolled Act No. 7 would invalidate a significantly broader category of physician non-compete agreements entered into on or after July 1, 2023. Governor Eric Holcomb is expected to sign the bill into law.” Full Article
– Jackson Lewis P.C.
NEW YORK
CLIENT ALERT: New York Department of Labor Finalizes Updates to the State’s Model Sexual Harassment Prevention Policy
“The updated model policy was developed consistent with a law that went into effect on October 9, 2018, which requires New York employers to either adopt and disseminate written sexual harassment prevention policies that meet or exceed the minimum standards set forth in Section 201-G of the New York Labor law or adopt the model policy published by the NYDOL.” Full Article
– Morgan, Brown & Joy LLP
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Getting Buy-in on HR Initiatives
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
While today’s HR professionals are tasked with many organizational goals ranging from improving employee engagement to attracting and retaining talent, such initiatives take time, resources and continuous effort. As such, building and maintaining successful HR initiatives can be challenging without support from the overall organization and leadership. HR professionals need stakeholders to listen, understand, and support their views before any initiative can get off the ground.
This article explores strategies for HR professionals to obtain organizational buy-in on their initiatives.
Winning Over Stakeholders
To start, buy-in is the encouragement or support of one’s ideas. Getting buy-in does not mean 100% agreement with a plan or initiative, but it’s receiving the support of key team members or stakeholders—even if they don’t wholly agree. HR professionals will spearhead a myriad of initiatives for an organization. Common initiatives are related to talent and learning and development efforts, or it could be more specific, such as integrating new technology or artificial intelligence. Before an initiative kicks off, others in the organization must approve it or give their blessing. Support may also require a financial investment (e.g., expenses and labor costs) depending on the initiative.
Regardless of the nature of the initiative, there are general strategies HR professionals should consider when trying to pursue a new idea but may be facing roadblocks within the organization. Take into account the following tips:
- Lead with a clear vision. A well-defined vision demonstrates confidence in the proposed idea. Developing a clear vision involves:
- Identifying the problem
- Providing examples of the proposed solution
- Leaning on data and metrics to substantiate the solution
- Considering potential risks associated with the plan
- Align with business goals. An initiative is more likely to gain support if aligned with business goals, core values and other companywide efforts.
- Establish credibility. With a proven track record, leaders and key stakeholders are more likely to support HR professionals and their new initiatives.
- Know the audience. Everyone has different perspectives and opinions, so knowing the stakeholders is essential. A successful pitch will address an important issue to that person or deliver on success for the organization. Strong interpersonal skills help HR professionals build relationships before the next big idea. Still, they can also help them navigate these conversations better by knowing what piques the interest of certain individuals.
- Leverage metrics and data. Harness the power of HR data to help prove the need for an initiative and perhaps ways that others have experienced success. Facts and figures don’t lie, so HR professionals can use data to prove their points.
- Calculate the return on investment (ROI). ROI is often the ultimate measurement tool and the key piece of information stakeholders are interested in. Many organizational leaders understand and relate to ROI, and including this information can help validate the proposed initiative.
- Practice the pitch. Before meeting with stakeholders, practicing the pitch to become more comfortable presenting the idea and supporting information is essential.
- Expect common questions. While it’s important to be prepared for the actual pitch, it’s just as critical to be ready for stakeholder questions. Make a list of expected questions and answers to be properly practiced beforehand. It’ll help show confidence in the plan by not faltering on a question.
Being open to feedback or inviting others to expand on the idea is critical. This collaboration could strengthen the idea, demonstrate a willingness to compromise and build stronger interpersonal skills.
Summary
HR professionals are critical in driving significant impact and transformation within organizations. There are countless options for implementing HR initiatives, but securing stakeholder support is vital for them to either go anywhere or, hopefully, be successful. By selecting the appropriate workplace initiatives and striving to get buy-in from leadership, HR professionals can help bolster their influence and achieve notable results for the organization.
Contact RISQ Consulting for more HR resources.
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