How to Calculate Your Life Insurance Needs

How to Calculate Your Life Insurance Needs

Life insurance is a wonderful tool to ensure peace of mind and financial stability for your family. It is designed to pay out a certain sum of money to a surviving spouse or family members in the event of someone’s death. This sum can replace lost income and pay off major bills while the family grieves and adjusts to life without their loved one. And it doesn’t only have to go to children, spouses or other family members. You can choose anyone as your life insurance policy’s beneficiary and give anyone you care about financial support in the event of your death. Life insurance isn’t free, though, so it’s important to weigh the cost of premiums against the potential benefit and make sure you aren’t under- or overinsured. Too little coverage will leave family members strapped for cash and too much is a waste of premiums, especially considering you hopefully …

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Employee Health Data Security Requirements for HR

Employee Health Data Security Requirements for HR

Human resources departments have many duties, and a key one is safeguarding employees’ personal data. Regulations change often; for example, tighter restrictions on employee data under the Patient Protection and Affordable Care Act (PPACA) have changed how employers manage employee data under the Health Insurance Portability and Accountability Act (HIPAA). What are some of the rules and regulations HR must follow when it comes to employees’ personal data? There are several federal laws that oversee the handling of employees’ health and medical information. These include: The Health Insurance Portability and Accountability Act While HIPAA generally applies only to “covered entities” such as health care providers, it also applies to self-insured and fully insured employer plans, with some exceptions. Even if an employer contracts out much of the plan’s administration, the plan itself falls under HIPAA rules. Enforcement and compliance of HIPAA rules on employers vary widely depending on size, plan …

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5 Benefits You Might Not Know You Have (or Know How to Use)

5 Benefits You Might Not Know You Have (or Know How to Use)

It’s easy to zone out on benefits communications, especially when it’s not open-enrollment time. After all, you’ve filled out your health insurance forms, so what else do you need to know? Turns out, quite a bit. Chances are your employer offers benefits that you might not know about, or know how to use to your best advantage. “Employees must do more than pay attention once a year at an open-enrollment meeting,” says Chris Costello, principal and founder of CBG Benefits. “They should actively look for these details in their Plan Summary documents. They should log on to their employee portal or health insurance carrier’s website to see what’s listed. By taking that action, they’ll be able to experience financial savings, achieve wellness goals and fully utilize their employee benefits program.” You can start by considering these five benefits you may be missing out on. 1. Discounts Some companies offer discounts …

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How to Connect With Co-Workers When You Work From Home

Working from home has many fantastic benefits – no commute, no noisy and distracting co-workers, and no dress code. Many employees love it, and their companies enjoy the lower overhead costs that come from having fewer if any, staff in an office. Organizations save on electricity and furniture and enjoy increased productivity. It’s a win-win, almost. One thing that can suffer in a remote-work environment is the sense of teamwork and camaraderie. When there’s no watercooler, the friendly banter is gone. Without someone occasionally selling cookies or gift wrap, you learn a little less about your co-workers’ families and interests outside the office. It’s easy to settle into your work-at-home-bubble and feel isolated from the people you work with. Is there any way to develop cohesion and connect with co-workers when you’re not working in the same place? Yes. Here’s how. Collaborate Through Technology “Use various technology platforms to collaborate …

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