Healthcare, Insurance

Employee wellness programs are quickly catching on. In fact, about nine out of 10 organizations offer at least one wellness initiative. But employee wellness programs are about more than enticing potential prospects or buttering up employees.
Their benefits go much deeper and can be more financially beneficial.
Chris Powell, CEO, Talmetrix  lists some of those benefits from slashing health care costs to increasing productivity, here’s how employee wellness programs boost a business’ ROI.

The to-do lists for small-business owners are often anything but short.
And when it comes to the administration of benefits, the list can sometimes grow out of control.
Benefits administration not only requires time for extensive research on the best possible plan for employees, but it demands the time and tools necessary to educate employees on choosing policies that truly work best for them.

Three of four small-business employees surveyed said they are very satisfied with their job because they work for a small business.
However, nearly 72 percent of small-business employees stated an improvement in their benefits offering would make them even happier employees.1 Working for a small business can be appealing for many reasons.
Some factors that contribute to small business employees’ job satisfaction include being rewarded for hard work, flexibility in scheduling, knowledge of how their job fits into the big picture and feeling like their input matters. 

The U.S. healthcare worker shortage crisis is expected to intensify as waves of baby boomers retire but fewer workers remain to replace them. 
According to the U.S. Census Bureau, the number of American workers 65 and over is expected to increase 75 percent by 2050 while those 25 to 54 will likely increase only two percent.

While SMB employees make up about 50% of the workforce, they have 60% of the reported accidents.

At all US private businesses, roughly 3 million workers are injured peryear according to OSHAat a cost of $170 billion dollars.

A recent nationwide survey of small business leaders indicated the Affordable Care Act was the number two concern of those responding.

After getting new customers, the respondents said there was much confusion about the act and what small businesses needed to do to comply.

In fact, many felt they did not know if they were even required to participate in healthcare related programs.

According to Tariq Hilaly, CEO of Lumity, getting a handle on the newest set of rules and regulations is very possible.

With 2016 right around the corner, small businesses should be prepared for the year ahead and what the new year will bring.

Here are five things Bizfi founder Stephen Sheinbaum thinks small businesses should know about:    

There is a way to reduce small business healthcare insurance costs by an average 30%.

According to Kent B. Utsey, CEO of American Health Resources this approach can also exempt small businesses from the Affordable Care Act and give employees better benefits.

According to Utsey, earlier in 2015, the federal government approved a way for companies to switch from group to individual health insurance policies.

Business owners should take the time at least once per year to look over their core policies and documents to make sure they are effectively protecting their business, and summer is the perfect time. 

From employment agreements to social media policies, Matthew Villmer, attorney, Sodoma Law, P.C offers three tips that can ensure a company is successful. 

Editor’s Note: Because the laws governing the possession and use of marijuana for medical and recreational purposes are changing, the editors thought a brief guide might be of use to readers.

Danielle S. Urban is a partner in the Denver office of Fisher & Phillips LLP, representing employers nationally in labor, employment, civil rights, employee benefits and immigration matters. 

Twenty-three states and the District of Columbia permit medical marijuana use in some form.