The HR Team March 2009 Newsletter
Happy March. As you may know by now, it has been an exciting month. A majority of The HR Team was acquired by JPB Enterprises, new COBRA regulations have been released, and HR Roundtable is here. Ok, those are very different items, but all are discussed in this newsletter!
It's almost spring and the winter doldrums are behind us. If you are like most, you have probably emerged from your winter hibernation and started thinking about those projects you have put aside just waiting for the spring to come. Well, spring is here and now is the time to get to those projects like: handbooks, compliance audits, training, and more off your to do list and to mark them done. Hint..hint...hint! Contact The HR Team at 410-381-9700 for more information on how we can help.
Acquistion by JPB Enterprises
We announced on March 3rd that JPB Enterprises had acquired a majority ownership of The HR Team. I have had a lot of calls and emails from friends and colleagues asking "Are you retiring?", "Is that a good thing?" and "Why?"
I should say first, that it is a good thing, no a great thing for The HR Team, my staff and me.
Second, I am not going anywhere, and I am way too young to retire. As a matter of fact, the other day, someone thought I was in my 20's (ok, so he sells insurance, but just play along with me). More importantly, I am still an owner and the president of The HR Team. The same wonderful staff that have served our clients for the past 12+ years are still here. What makes us good at what we do is the very thing that interested JPBE in us.
Third, why? It was a good, no a great fit. The decision was based on a number of factors, including but not limited to the stellar reputation of JPBE, their successes with prior companies, the ability to provide more services for our clients, and most importantly is that because they like what makes us The HR Team, they don't want to change what makes us special.
HR Roundtable
The HR Team is launching "HR Roundtable". HR Roundtable is a monthly subscription based group of HR Executives who will meet monthly to learn and discuss HR trends and topics; and how to implement them.
The roundtable will meet monthly at alternating locations of members from 8:30 - 11:30 am. Agenda will include HR topics of interest to members, specifically ones that help HR increase their business value. Time will also be allotted for member questions that will be addressed by their fellow members in a roundtable format. Guest speakers may include attorneys, CPA's, CEO's, IT, and more. The roundtable will not accept sponsorships or solicitations from vendors. However, from time to time, vendors will be invited to discuss latest trends, and products in the HR arena.
The roundtable will be facilitated by one of our senior staff members. The cost for the first year (12 months) is $1,600. In addition, members will be able to purchase additional time for one on one coaching, and other services at our preferred client rate.
Interested? Contact email or call Eileen at 410-381-9700
New Cobra Regulations
Warning - This article may cause your eyes to glaze over...continue reading or call The HR Team.
The American Recovery and Reinvestment Act of 2009 (ARRA) provides for premium reductions and additional election opportunities for health benefits under COBRA. What this means is that those eligible will pay only 35% of their COBRA premium, with the remaining balance being reimbursed to the employer through a tax credit.
Assistance is available to those who:
- Were eligible for COBRA continuation coverage at any time between September 1, 2008 and ending December 31, 2009;
- Elect COBRA coverage, and
- Are COBRA eligible as a result of the employee's involuntary termination between September 1, 2008 and December 31, 2009.
For those who qualify, assistance may be available for employees and their dependents.
Eligible individuals who did not elect COBRA when it was first offered, or elected and dropped coverage, have a special election opportunity beginning February 17, 2009 and ending 60 days after the plan provides the required notice. This election period does not extend the period of COBRA continuation beyond the original maximum period.
Those who are eligible for other group health coverage (such as a spouse's plan) or Medicare are not eligible for the premium reduction. Other limitations also apply. The premium reduction applies going forward and does not apply to coverage that began prior to February 17, 2009.
Employers must provide notice about the premium reduction to individuals who have a COBRA qualifying event between September 1, 2008 and December 31, 2009. This notice must go to all individuals, whether they have COBRA coverage or not.
Individuals who request treatment as an assistance eligible individual and are denied such treatment by their group health plan may have the right to appeal to the Department.
For more information, see the DOL's COBRA premium reduction fact sheet. In addition, the IRS has also provided guidance on how employers can seek reimbursement through payroll taxes.
Special note for clients of The HR Team: If you are a retainer client, or a client for whom The HR Team manages your COBRA, the notice requirements are currently being handled for you. All other clients - and those who should be clients -- are invited to contact The HR Team for assistance.
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