Imagine you’re the CEO of a company with 49 employees. You’re currently covered through a fully insured health plan, but are considering switching to a self-insured group plan due to the potential premium increases resulting from the Affordable Care Act.  

All of the companies you know with self-funded plans are larger companies (250+employees), so you aren’t sure if this is the right solution for you. You’re also concerned that since you would pay self-insurance claims directly, your company could be liable for a major claim if an employee has a serious health issue. 

What do you think - what would you do in this situation? Before you make a decision, consider the following key points. 

What happens when you have a major claim on a self-insured policy?

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Group Management Services, Inc. was on honored on February 19th, 2014 at the Richfield Village Council meeting. They congratulated President and CEO, Mike Kahoe as GMS was awarded a 2013 Weatherhead 100 Award through the Case Western Reserve Weatherhead School of Management.

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If we asked you to guess the top reasons people hate their job, what reasons come to mind?

The National Business Research Institute took a poll through Twitter and found that 33% of people blamed their job blues on annoying coworkers. 

So how can you avoid hiring one of the 15 most annoying coworkers, and select the best candidate for the position? 

We collected the articles below that share how to prepare for an interview, interview tips, and questions to ask when bringing on a new employee. 

These tips will help you as you assess the skills, experience, and cultural fit of your potential employees.  

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More than 60% of employees in the USA are paid by direct deposit, and the number will only continue to grow.

Here’s why:

Benefits for Employees

1. Quick: No more waiting in line to deposit your check at the bank, or sending the paper check to your bank through the ATM or your phone app. Now you can be sure the money gets to where it needs to be. 
2. Convenient: Employees don’t have to worry about being in the office to get paid. If they are on a vacation or out sick, they can be assured the deposit will be made. They can also control which account the paycheck goes into- maybe they choose to direct funds to a retirement savings plan or a checking or savings account. Bills can be paid immediately online as soon as a deposit is made.
3. Green: Reduces a company’s carbon footprint, and offering online pay statements that are available 24/7 would also contribute to the green impact. 

A recent NIH funded study looked at medical expenditure bills that represented more than 8,303 emergency room visits and came up with two startling conclusions: 

1. There are huge variations in prices.
   Bills sent out for sprained ankles ranged from $4 to $24,110. 
2. Prices overall are really high.
   The average emergency room visit cost 40 percent more than an average month’s rent (or $1,233 as the average rent is now $871 per month). 

 

Can you name the top three most frequently cited safety standards by Federal Occupational Safety & Health Administration (OSHA) in fiscal year 2013?

If you answered fall protection, hazard communication, and scaffolding then you were correct! Out of 3,945 worker fatalities in private industry in calendar year 2012, 775 or 19.6% were in construction. 

These statistics remind us that managing the risks involved in operating your business can be more than just paperwork. Employers are responsible for providing a safe and healthy workplace for their employees. One way to make sure the environment is safe is to conduct a safety audit.  

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How healthy are your employees? If you are a small business owner looking to save money on your healthcare, let’s hope they are all vegetarian non-smokers training for a marathon, right? 

While that would be great, for your small business what matters more for your bottom line is the type of healthcare plan you provide. You have two choices: a fully insured plan or a self-insured plan. 

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It’s likely that as a small business, you don’t have a dedicated HR team. You may divide the tasks amongst a group of people, you may spend your nights and weekends making sure you’re keeping up to speed on the various HR regulations out there, or, even worse, you ignore it all together and just ‘wing’ HR management.

If you find yourself spending more and more time dealing with HR functions and less and less time growing your business, you have a couple options: hire a professional employer organization (PEO) to handle the tasks for you, or hire someone dedicated to the management of your HR needs.

Of course, we’d love it if you chose the option of hiring a PEO, but if you opt for hiring an HR manager, we’ve compiled a helpful list of 8 traits you should watch out for.

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Are you looking for a way to reduce administration costs for your small business? Have you considered how much time (and money) you would save if you didn’t have to prepare and process your payroll and payroll taxes?

When you outsource payroll services, there are a number of benefits. The most essential for small businesses is that you can take the time you used to spend on payroll and devote it to building your business. 

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According to a Wells Fargo study, 37% of people expect to work until they die. That’s an alarming number, but one that you can use to your advantage.

Most people would rather spend their later years comfortably enjoying their retirement, so by offering a quality 401k plan, you give your business a step up in attracting and retaining quality employees.

Avoid Financial Confusion: Educate Your Group

Before we give you the key elements to a great 401k plan, it’s worth taking a moment to remind you that financial choices can be intimidating and confusing for many employees. One way you can help is by making an effort to ensure employees are educated about their choices. These resources will help make sure everyone is on the same page.

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