Compensation Solutions Blog
Human Resources Outsourcing (HRO – PEO – ASO – Payroll – Agency)
The BenefitPERx Legal Card from Compensation Solutions has many areas that cover your business and family lifestyles. Most of these services can also be utilized by your spouse and all legal dependents. Take a look below at one of the ways your BenefitPERx Legal Card can assist you.
Did you know?
With the Small Business Legal Plan you get unlimited initial phone consultations during business hours for new legal matters. That’s like having your own personal lawyer for all your business needs! Imagine all the time and money you could save. Please visit our blog next week for another “Did You Know?”
Save time and money with BenefitPERx Legal Card. For more information please call 201.405.1115 or email us at firstname.lastname@example.org.
For the 10th year, Compensation Solutions will exhibit at the Health Care Association of New Jersey (HCANJ) Conference at the Taj Mahal Hotel/Casino, Atlantic City, NJ – Oct-29-31
Compensation Solutions has been named a finalist in the 51-100 Employees category in the 2013 NJBIZ Business of the Year awards program. The award program,produced by NJBIZ,New Jersey’s premiere business news publication,is presented by EisnerAmper LLP and sponsored by Sun National Bank, Comcast Business, and K&L Gates.
The Business of the Year awards program celebrates New Jersey’s most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community. Finalists were selected in six categories: Business of the Year (1-50 Employees),Business of the Year (51-100 Employees),Business of the Year (101+ Employees),Corporate Citizen of the Year,Emerging Business of the Year and Executive of the Year.
Finalists and winners were chosen by an independent panel of judges including: Tom Bracken, New Jersey State Chamber of Commerce; Kathleen Davis, South Jersey Chamber of Commerce; Maureen Hassett, New Jersey Economic Development Agency; and Peter Kasabach, New Jersey Future.
The Business of the Year award finalists will be recognized and the winner in each category will be announced during an awards dinner on December 9, 2013 at the Palace at Somerset Park.
For more information about the NJBIZ Business the Year awards program or to reserve seats to the event,please visit www.njbiz.com/events or contact Melissa Sullenberger at email@example.com or (732) 246-5737.
The Obama Administration has announced that it will delay the implementation of the SHOP (Small Business Health Options Program) until November 1, 2013. The Marketplace is scheduled to open October 1, 2013 for Individuals and Small Businesses to review healthcare options, but Small Businesses will only be able to review these options via telephone until November 1, 2013. In addition, Spanish-language health insurance enrollment services will also be delayed until the end of October. The Marketplace will be open for individuals to enroll in healthcare which will be effective January 1, 2014.
As fall begins we all naturally begin preparing for colder weather and, for most, this preparation includes a flu vaccination.
While flu activity is usually associated with the later winter months; such as January and February, in years past, flu activity has been reported as early as August and September. The flu shot is designed to protect individuals against a variety of viruses that are believed to cause the current strain of influenza.
The Centers for Disease Control and Prevention (CDC) recommends that people get their flu shot as early as possible, which means prior to the start of “flu season”. The flu shot can easily be obtained at doctors’ offices, flu-shot clinics, health departments and pharmacies. The CDC (www.cdc.gov) has published an on-line vaccine finder which may be a very helpful tool in locating a convenient flu shot clinic. The applicable link, powered by the federal government, is located at http://vaccine.healthmap.org/.
Compensation Solutions wishes you a healthy flu season minus the flu!
Compensation Solutions (CSI), one of the tri-state area’s leading Human Resource Outsourcing Organizations (HRO), is pleased to announce that the COMPSolutions Agency has completed the Small Business Health Options Program (SHOP) Exchange Certification process. The Certification will enable CSI and its affiliate the COMPSolutions Agency, to work with any state-run health exchange in New York. By completing this Certification, the COMPSolutions Agency and CSI continue to assist clients with the ever-changing and increasing healthcare reform laws, rules and regulations.
In its continuing efforts to provide a high level of customer service, the COMPSolutions Agency and CSI may now more effectively guide its clients and employees through the complex process of purchasing health insurance coverage through the SHOP Exchange. Although ALL rates in the Exchange will be set in advance and fixed by each of the vendors, not all exchange salespersons will possess the same expertise as CSI Human Resources and the COMPSolutions Agency Benefits Specialists. Once available, the COMPSolutions Agency will be completing the same National Certification process so that CSI may address clients’ needs in New Jersey and other states.
About SHOP Marketplace
In line with the ACA’s intent to simplify access to health insurance, states will need to plan for and develop appropriate tools for small businesses to obtain insurance coverage for their employees through the Exchange. Beginning October 1, 2013 open enrollment will commence for SHOP Marketplaces for employer groups with 50 or fewer full-time-equivalent employees to purchase health insurance to fulfill the ACA’s ruling. In 2014, SHOP Marketplaces will be open to employer groups with more than 50 full-time-equivalent employees.
About Compensation Solutions
Compensation Solutions is a leading human resources outsourcing organization that serves as a full-time outsourced human resource partner for businesses of all sizes throughout the United States. By managing employee benefits, human resources, payroll and workers’ compensation administration, Compensation Solutions allows its clients to focus on their core competencies to maintain and grow their bottom line. Compensation Solutions’ corporate headquarters is located in Wayne, NJ with offices in Upper Saddle River and Manhattan. For additional information, please visit our website at http://www.csihro.com.
About COMPSolutions Agency
The COMPSolutions Agency is comprised of experts who understand the specialized needs and critical issues facing today’s business owners. Our Agency Program is designed to give CSI clients back the time necessary to focus on core business operations – time which allows you to improve your bottom line. Understanding that no two clients are alike, and business owners are increasingly looking for quality solutions in all areas of business functions. For additional information, visit http://www.compsolutionsagency.com.
Beginning October 1, 2013, the administration of pharmacy benefit services will transition to OptumRx, a United Healthcare Services company. The intent of the aforementioned change is designed to help Oxford Health Plans, LLC better serve its covered members while improving the overall experience of each covered member.
What does this mean?
In the next few weeks, covered members will get a new health plan identification card (the “Card”) in the mail listing OptumRx information on the Card.
The Card will be effective October 1, 2013.
Most mail service prescriptions with remaining refills will automatically transfer.
In most scenarios, OptumRx will contact covered members when it is time to process your previously submitted and approved refill order. For the refills which do not automatically transfer, please contact the Customer Service telephone number listed on the back of your health plan identification card.
If you are seeking more information about the transition to OptumRx, please call the Customer Service telephone number listed on the back of your health plan identification card.
For online assistance you can go to www.oxfordhealth.com , click on “Online Pharmacy” and log in to the Optum Rx site.
The federal government’s healthcare reform law (The Patient Protection and Affordable Care Act (PPACA) – limits the portion of premium dollars health insurers may spend on administration, marketing, and profits. The law establishes medical loss ratio (MLR) standards for issuers. Insurance carriers that fail to meet this ratio must rebate a portion of health insurance premiums received. The intention of the PPACA is to ensure that insurance companies provide their members with value and quality.
On an annual basis, insurance carriers in the United States are now required to notify sponsors of health insurance plans as to whether or not they would be receiving an MLR rebate. Moreover, insurance carriers are required to forward a rebate, if applicable, by August 1, 2013.
For more information on the topic of MLR please refer to the following website: http://www.dol.gov/ebsa/healthreform/
As you know, the federal government’s healthcare reform law, the Patient Protection and Affordable Care Act (PPACA), has many new compliance and reporting requirements for nearly all employers. These new reporting mandates apply to employers whether or not the business utilizes the efficiencies of a Professional Employer Organization (PEO). One of the required mandates is the Healthcare Exchange Notification (the “Notice”) that must be distributed to all current employees by October 1, 2013 and then going forward to all new hires within fourteen (14) days of the employee’s start date.
For a sample of the Exchange Notice as well as more information on the PPACA, see the link below:
Stay tuned as more information on this topic becomes available.
Compensation Solutions has been named an Outstanding Employer by the New Jersey Business and Industry Association (NJBIA) for its Awards for Excellence.
The NJBIA’s Awards for Excellence program recognizes member companies that are doing great things in New Jersey, from creating jobs, growing their businesses, motivating and rewarding their employees, protecting the environment, and helping their communities through public service.
In 2013, Compensation Solutions implemented BenefitPERx, a new and innovative concept which delivers telemedicine medical care solutions and discount savings on health and lifestyle services for all. The BenefitPERx program was rolled out complimentary to all employees of CSI to reward the staff for their hard work and dedication.
Compensation Solutions wins the Outstanding Employer Award from NJBIA – PDF Release