We spoke with three Fringe Benefit Plans, Inc. strategic partners to get some critical insight on the current state of events and here's what they shared. The recent dip in unemployment statistics is influencing employers to focus their attention on the recruiting and retention strategies for their organizations. A recent survey found that the number one issue that keeps CEO’s up at night are personnel challenges. The value of human capital extends well beyond the core competency of your enterprise. Human beings are complex and the strategy you implement to select, engage, train, develop and manage them is now more important than ever before. To that point, talent management has become an integral component for Human Resources professionals.
It is very exciting to drive though Florida and watch the new residential and commercial construction projects being built. It is equally as exciting to watch the unemployment statistics illustrating a strengthening economy. According to the Bureau of Labor Statistics current population survey (CPS), the unemployment rate for Florida in April 2017 is 4.5%.
We hope that you are safe and secure after Hurricane Irma. We realize that businesses may be impacted by the storm and want to connect you to resources to aid in recovery. Small businesses that have incurred losses due to Hurricane Irma are asked to complete a Business Damage Assessment Survey to help the State Emergency Response Team determine the needs and level of assistance for impacted businesses. The survey can be found at www.flvbeoc.org.
We are seeing a definitive trend with organizations facing strong competition for good human capital. In a recent SHRM publication, “according to the CareerBuilder results, certain industries are expected to match or exceed the national average for adding full-time head count in the second half of the year”. Understanding the simple economics of supply and demand, it is important to maintain a focus on recruiting candidates that complement the corporate culture and exude the characteristics required to succeed in their defined role within the organization.
The Affordable Care Act calls for individuals to have qualifying health insurance coverage for each month of the year, have an exemption, or make a shared responsibility payment when filing his or her federal income tax return.
You may be exempt from the requirement to maintain qualifying health insurance coverage, called minimum essential coverage, and may not have to make a shared responsibility payment when you file your next federal income tax return.
1. What is the individual shared responsibility provision?
Under the Affordable Care Act, the federal government, state governments, insurers, employers and individuals are given shared responsibility to reform and improve the availability, quality and affordability of health insurance coverage in the United States. Starting in 2014, the individual shared responsibility provision calls for each individual to have minimum essential health coverage (known as minimum essential coverage) for each month, qualify for an exemption, or make a payment when filing his or her federal income tax return.
The Affordable Care Act calls for individuals to have qualifying health insurance coverage for each month of the year, have an exemption, or make a shared responsibility payment when filing their federal income tax return next year.
Qualifying health insurance coverage, called minimum essential coverage, includes coverage under various, but not all, types of health care coverage plans. The majority of coverage that people have today counts as minimum essential coverage.