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The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.

Technology and Human Interaction

Technology and Human Interaction

March 21, 2023
Today’s remote and hybrid workplaces rely on virtual communication and collaboration. While these arrangements remove much day-to-day interaction, fortunately, technology can enhance relationships and enable meaningful conversations. As employers navigate and compete in the “Great Reshuffle,” intelligent and flexible technology can help rehumanize work. For example, a software could measure and improve workplace culture, help…
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ACA Pay or Play Penalties Will Increase for 2024

ACA Pay or Play Penalties Will Increasefor 2024

March 12, 2023
On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970 and the adjusted $3,000 penalty amount is $4,460. Pay or Play Penalty Calculations Under the pay…
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Key Elements of an Effective Cyber Incident Response Plan

Key Elements of an Effective Cyber Incident Response Plan

February 26, 2023
Through proper response planning, businesses can mitigate potential damages that may arise from cyber incidents. Yet, it’s important to note that cyber incident response planning requires coordination across a company. An effective response plan should outline: Cyber incident response plans should address a variety of possible scenarios and be communicated to all applicable parties. These…
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Building an Employee Value Proposition to Attract and Retain Employees

Building an Employee Value Proposition to Attract and Retain Employees

February 19, 2023
An employee value proposition (EVP) is the unique set of benefits employees receive in return for the skills, capabilities and experiences they bring to an organization. While an EVP includes common factors such as compensation, benefits and career opportunities, it also expands to all the value an employee can receive in exchange for their work.…
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Small Business Insights - How to Manage Business Risks

Small Business Insights – How to Manage Business Risks

February 15, 2023
A vital aspect of running a small business involves managing its associated risks, as no operations are immune to internal or external threats. A risk management plan involves implementing various techniques that can help mitigate or prevent loss. There are multiple ways a company can organize its risk management plan, but steps commonly consist of…
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Congress Extends Telehealth Relief for HDHPs 

Congress Extends Telehealth Relief for HDHPs 

February 5, 2023
The Consolidated Appropriations Act, 2023 (CAA) extends the ability of high deductible health plans (HDHPs) to provide benefits for telehealth or other remote care services before plan deductibles have been met without jeopardizing health savings account (HSA) eligibility. This extension applies for plan years beginning after Dec. 31, 2022, and before Jan. 1, 2025.  Background …
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Cybercrimes Against Small Businesses Decrease, Although Risks Remain

Cybercrimes Against Small Businesses Decrease, Although Risks Remain

January 28, 2023
Small businesses and self-employed people saw fewer cyberattacks and data breaches over the past 12 months. Still, significant risks remain for this corner of the economy, according to the Identity Theft Resource Center’s (ITRC) 2022 Business Impact Report. The ITRC recently surveyed 450 people who led small businesses or were self-employed about their experiences with…
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Upcoming ACA Reporting Deadlines 

Upcoming ACA Reporting Deadlines 

January 28, 2023
Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with upcoming reporting deadlines. For the 2022 calendar year, covered employers must:  Penalties may apply if employers are subject to ACA reporting and fail to file returns and furnish statements by the applicable deadlines.  The…
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6 HR Trends to Monitor in 2023

6 HR Trends to Monitor in 2023

January 24, 2023
Just as HR professionals quickly adapted to changes at the height of the pandemic, they must now adapt and respond to today’s evolving expectations of organizations and employees alike. As such, savvy HR leaders and professionals will approach 2023 with human-centric strategies that holistically support and benefit workers. Organizations will benefit from putting people first…
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6 Key Employee Benefits Trends for 2023

6 Key Employee Benefits Trends for 2023

January 21, 2023
Over the last few years, almost every aspect of the workplace has changed, leading to many unforeseen challenges. Unfortunately, many of the challenges that plagued workplaces in 2022 will likely continue in 2023 and beyond. In particular, current labor challenges are forcing employers to find ways to balance rising costs and inflation while providing employees…
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