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  • Research conducted by the Colorado Department of Insurance (DOI) shows groups could potentially see a significant spike in premium costs for 2023. Those affected by higher prices include small businesses and individuals who receive health insurance outside of their employer’s health plan.

    After reviewing insurance company filings, they show:

    • An 11% increase for individuals
    • A 9% increase for businesses with fewer than 100 employees

    New Option For Coloradans In 2023

    With the expected increases in health insurance for 2023, there will be an additional option for Coloradans. The new option will offer plans at a lower cost than the market average. The deadline for individuals to weigh in on this is August 1, 2022.

    The DOI will examine the reasoning behind these increases after August 1st. Depending on the findings, the DOI will decide if health insurance increases are reasonable or if prices should be adjusted.

    As part of the new lower-cost Colorado option, the DOI has created a Standard Plan to allow consumers and businesses to easily compare plans and choose the best fit. In addition to free primary care and mental health visits, this new plan aims to reduce racial health disparities. However, this will only be available for Coloradans who buy their health insurance on the individual market and for small employers with two to 100 employees. For more information, click here.

    Lower Your Healthcare Premiums With GMS

    While Colorado is creating additional options to lower the cost of health insurance for individuals, GMS also provides health insurance to small businesses. Small businesses have access to the buying power of large corporations by partnering with GMS, which leads to a greater selection of affordable health insurance options. Through our buying power, we’re able to offer financial security, flexible benefit options, and an unprecedented customer service experience. Contact us about small company health insurance today.

  • President Joe Biden’s administration has requested state TennCare officials to make major revisions to the Medicaid block grant program. This program currently provides healthcare to 1.6 million Tennessee residents.

    Under the block grant program, Tennessee would receive a set amount of funding but have more flexibility in how they spend it. This will enable the state to retain savings for health care and health-supporting initiatives.

    State and Federal officials have been discussing these revisions for quite some time. The state has the option of approving or rejecting the changes, as this is a request from the federal government. Furthermore, Tennessee has until August 30th to decide if revisions will be made to the TennCare program. The benefits of 2021 will be preserved in the meantime.

    How Revisions Can Affect Tennessee Residents

    Some experts from Tennessee say that the revisions to the waiver grant program would be beneficial and is good news for Tennesseans. Organizations like the American Heart Association, the American Cancer Society, and many others opposed the granted waiver because of the harm it would do to 1.6 million Tennessee adults and children who rely on TennCare. Michele Johnson, Executive Director of the Tennessee Justice Center says, “all the groups warned it would damage the health care system on which we all depend and would worsen the rural health crisis across Tennessee.”

    On the other hand, by requesting the waiver in 2019, Tennessee Gov. Bill Lee’s administration hoped to save money by directing those funds into health care initiatives and programs. This was followed by a year of criticism from GOP lawmakers who did not want to expand the Medicaid program under the previous Affordable Care Act. By the beginning of 2021, the waiver grant program had finally been approved.

    Under Medicaid, the federal government pays two-thirds of TennCare’s costs. There are no spending caps on state Medicaid expenditures which means Tennessee could boost or even expand the existing TennCare programs if it wishes. Depending on how much more of its own money the state was willing to put into it.

    The Center for Medicare and Medicaid Services is recommending these other provisions:

    • The Center for Medicare and Medicaid Services’ letter states it supports Tennessee’s policy goals to expand coverage and benefits. But the letter says center officials propose that “instead of the current framework for savings and investment,” the federal agency will “work with the state on necessary expenditure authorities to meet common goals.”
    • Modify the waiver’s specific terms and conditions section to “more explicitly state” Tennessee cannot cut benefits or coverage in effect from Dec. 31, 2021, without a procedural amendment subject to an additional public comment period and Center for Medicare and Medicaid Services approval.

    How GMS Can Help

    GMS does more than offer coverage like a traditional medical insurance company. To help our clients find the right coverage solution, we offer a variety of tools and resources including:

    • Education- In addition to a dedicated benefits specialist, you gain access to a team of experts who can train employees on how your plan works and answer questions.
    • Guidance – Health insurance is complicated. Our experts provide guidance on how to best utilize your plans, maintain compliance, and stay on top of Affordable Care Act regulations.
    • Control – GMS gives you more control of your business. Partnering with a PEO for group health insurance lets you focus on growing your business while making your benefits administration more efficient.

    To learn more, contact us today!

  • Since the beginning of COVID-19, the job market has continued to experience rapid loss – so much so that it has coined the term The Great Resignation. However, last month the unemployment gap began to show signs of improvement. According to the Bureau of Labor Statistics, U.S. employers added 372,000 new jobs over the past month. This surpassed the forecasts of economists; the U.S. was vastly heading into a recession due to a lack of employment offerings.

    Where Is The Growth 

    When looking at the rapid job growth in June, the specific industries listed below lead the increase: 

    • Professional and business services
    • Leisure and hospitality 
    • Health care

    When it comes to overall unemployment, the gap has now reached 524,000 jobs. While these industries maintain strong job growth, labor force participation did not see a major rise. The number of people in the labor force fell by 353,000.

    Overall Unemployment

    The private sector has recovered and exceeded the employment opportunities, gaining over 140,000 jobs compared to pre-pandemic. However, the overall unemployment rate has still remained at 3.6%, correlating to about two jobs for each unemployed worker. The labor market will continue to remain on the rise as the economy remains low.

    Candidates Power Continued

    According to SHRM, the average hourly wage increased by 10 cents in June, although it remains a tight labor market. Candidates continue to hold the power over their workplace and organization. Through this, employers have implemented a variety of benefits to attract and retain top talent. With new positions on the rise, it is more vital employers implement the benefits their employees desire.

    Why GMS

    Partnering with GMS allows you to ease the administrative functions of your business. Through the ups and downs of the economy, it’s important to continue ongoing efforts to attract and retain top talent. Through times of rapid change and uncertainty, you can rely on GMS. Contact us today!

  • When the U.S. Supreme Court revoked the federal right to an abortion, many companies stepped in to support their employees. Companies including Amazon, Apple, Disney, and many others pledged to cover all travel expenses for employees that live in states where the procedure has now been made illegal.

    How Businesses Have Stepped Up For Their Employees

    However, businesses that announced their plan to offer travel benefits did not provide details, and it’s unclear if they will be able to legally. As a business owner, you must protect your employees’ privacy and keep them safe from prosecution. Employers have created supplementary policies that employees can buy to cover the costs of abortion travel. Additionally, businesses are contacting insurers to determine if travel can be added to their current insurance plans and figuring out how to offer a benefit without breaching employees’ privacy.

    Employees are not required to tell their managers they are traveling out of the state to have an abortion. According to Sharona Hoffman, a health law professor at Case Western Reserve University, individuals will most likely have to tell human resources or a similar department that they are pregnant and would like to get an abortion. Depending on the company, the business or its health insurer would provide money upfront or reimbursement.

    Challenges Businesses Could Face

    With these announcements come many potential challenges. Adding travel benefits to a current medical plan carries risk. While the federal Health Insurance Portability and Accountability Act (HIPAA) protects sensitive patient information, it can be overruled in cases where a crime has been committed. This could directly impact businesses in states where abortion is now a crime. In contrast, some employees may oppose abortion and get upset that their company pays or reimburses the travel of other employees. Other arguments employees may pose include not paying for travel for fertility treatments or transgender health care.

    Listen To Your Employees!

    At the end of the day, as a business owner, your job is to make sure your employees feel heard and valued. You want what’s best for your employees. We help business owners stay in the know while being their trusted advisors for delicate topics such as abortion. Don’t let these ever-changing laws and regulations prevent you from doing what you do best- growing your business. Contact us today.

  • After the Supreme Court’s decision to overturn Roe v. Wade, President Biden’s supporters voiced for him to push harder to protect abortion access. In response, on July 8th, 2022, President Joe Biden signed an executive order designed to ensure access to abortion medication and emergency contraception while preparing for legal fights. He has made it clear that the only way to secure a woman’s right to choose is for Congress to restore the protections of Roe as federal law.

    The executive order will build from the actions his administration has already taken to defend the rights of women by:

    • Safeguarding access to reproductive health care services (abortion and contraception).
    • Protecting the privacy of patients and their access to correct information. 
    • Promoting the safety and security of patients, providers, and clinics. 
    • Organizing the implementation of Federal efforts to protect reproductive rights and access to health care.

    For more information, click here. 

    Additional Actions To Protect Access To Reproductive Health Care

    The Biden-Harris Administration has taken additional steps to protect access to reproductive health care and defend reproductive rights by:

    • Supporting providers and clinics
    • Promoting access to accurate information
    • Providing leave for Federal workers traveling for medical care
    • Protecting access to reproductive health care services for service members, oD civilians, and military families

    While there will be many legal challenges from pro-life supporters, this executive order directs the Attorney General and the White House counsel to “convene a meeting of private pro bono attorneys, bar associations, and public interest organizations” to encourage robust legal representation.

    Stay In The Know!

    The last thing you want as a business owner is to miss a new law or regulation that could impact your business. The uncertainty of the economy today makes it challenging for businesses to grow their business. By partnering with GMS, you have access to experts that handle that for you. Stay in the know while growing your business. Contact us today.

  • The Internal Revenue Service (IRS) has recently announced a 90-day pre-audit window to correct retirement plan errors. The program will allow for plan sponsors to be notified that the IRS has selected them for an upcoming examination and to allow them to correct errors they may have made.

    The 90-day window will allow plan sponsors to fix errors, so they do not have to pay a penalty fee or pay a lower fee for voluntarily correcting any errors. If the plan sponsor doesn’t respond, the IRS will commence with an examination.

    If a business makes changes and the documents support those changes, the IRS will issue a closing letter ending the investigation. The IRS could conduct a limited or full-scope examination if they still have reason to believe there are issues. Some mistakes are not eligible to be self-corrected, but a closing agreement can be requested. The Voluntary Correction Program fee structure will be used to determine the amount a business will pay under an agreement.

    Before this program, the ability to fix errors prior to an IRS judgment was typically not available. Errors found by the IRS resulted in much higher fees and were less predictable than they are under this new pilot program.

    The IRS states that the “goal with this program is to reduce taxpayer burden and reduce the amount of time spent on retirement plan examinations.” Once the pilot is over, the IRS will determine if it should become a new policy as part of its overall compliance strategy.

    How GMS Can Help

    While this policy helps businesses by giving them a window to correct errors, a professional employer organization (PEO), like GMS, can help eliminate these errors in the first place. That way, you don’t have to spend more money working with attorneys and advisors to conduct the self-audit after receiving a notification. Not only will it save you money to partner with GMS, but it will also save you valuable time that you can focus on operating the key facets of your business. Contact GMS today.

  • The IRS Form 941, also known as Employer’s Quarterly Federal Tax Return, was scheduled to change in June 2022. Previously, Form 941 was only updated in March for the first quarter reports. Now, the IRS has extended it to the second, third, and fourth quarters.

    Employers use Form 941 from the IRS to report income taxes, social security tax, or Medicare tax withheld from employee’s paychecks. Without this report, the IRS would not know if you deposited your employment taxes on time.

    Changes To Form 941-X

    The new report, Form 941-X, only has two worksheets that must be turned in versus several forms needed to be submitted for Form 941. The IRS also updated changes to Form 941-X to match the changes from Form 941.

    How GMS Can Help

    Dealing with taxes can be complicated and can take away focus from your business. Outsourcing payroll administration will provide you with a team of experts by your side to give you dedicated support, proprietary technology, and operational efficiencies. Contact us today to learn how you can benefit from partnering with a PEO for your payroll needs. 

  • Anthem, a large health insurance company, and Northside, an Atlanta hospital system, go head-to-head in a legal controversy in Georgia’s Supreme Court that could impact the state residents’ healthcare.

    In May 2021, Anthem decided to terminate Northside from its network due to the Atlanta hospital system billing overwhelming funds to Anthem. According to Insurance Newsnet, “One legal issue centers around the definition of “public health emergency.” That is because the General Assembly passed a law during the 2021 session prohibiting insurers from dropping health-care providers from their networks during and for 150 days after a “public health emergency.”

    A public health emergency, as declared by the city, the state, or the Federal Government, is an occurrence of a threatening illness or medical condition caused by an epidemic, pandemic, or an infectious agent. In the lawsuit, representatives of Anthem and Northside argue for different definitions for a public health emergency. Anthem argues for a “narrow” definition of a public health emergency meanwhile Northside argues for a “broad” definition of a public health emergency.

    What This Means For Georgia Residents

    It is possible that both parties may not be able to negotiate and reach an agreement, affecting Georgia Residents. With the extension of this case in the state Supreme Court, a decision will be made within the next six months. A public health emergency dispute that cannot be resolved affects state residents not only disrupts medical treatment but the collapse of healthcare facilities and systems, use of prescribed medications, and disrupts health surveillance and programs.

    How GMS Can Help

    Here at GMS, we have experts to assist with any healthcare inquiries you may have. Having an expert team by your side can be extremely beneficial for you and your employees. Let us assist in finding you the best healthcare plan, so you can focus on growing your business. Contact us today!

  • While low-code platforms may seem confusing at first, they are simply types of visual software development environments that allow enterprise developers and citizen developers to drag and drop application components, connect them together and create mobile or web apps. In the past year, low-code development has grown more than 20%. HR industries and departments are slowly converting their technology toward low-code programs. According to SHRM (Society for Human Resource Management), “A low-code development platform requires users to have little or no coding experience. When used at the workplace, the platform allows non-IT employees to build custom applications with a graphical user interface. Employees who have little understanding of coding can build modern websites and mobile apps while also applying business logic.”

    The worldwide development market for low coding was $13.8 billion. In 2022, a survey conducted by Gartner estimates that low-code revenue will rise to $16.8 billion with an increase of over one percent the following year.

    How Low-Code Can Change HR Functions

    HR leaders can save time and money since they do not have to pay a software engineer for simple problems or changes to an application. Low-coding can help with recruiting, hiring processes, training, payroll, requests for paid time off, and vacation requests. Since low-code programs require little to no experience in coding, this growing market is a trend that everyone wants to be a part of.

    By implementing low-code software within your HR department, you can integrate HR with other departments. It also allows your team to build applications faster if needed. Using low-code software can streamline workflow and allow management teams to evaluate their teams more effectively.

    The Future Of Low-Code Software

    Using low-code applications in the HR industry allows employees to make the application unique to them. Furthermore, co-employment companies that offer HR services customize the application to meet the needs of their clients. Companies such as Microsoft and Amazon have already stepped in to make their own version of a low-code application. Other HR vendors that are converting to low-coding include Salesforce and Oracle. Last year, Salesforce introduced its next-generation Salesforce Platform, which includes a low-code development tool that gives employees the opportunity to create apps on a single platform.

    Low coding has a variety of different ways it can integrate into your everyday workflow. Additionally, it makes it possible for employees and clients to create their own paths in this rapidly growing age of digitalization.

    How GMS Integrates Low-Code

    At GMS, we understand how important it is for clients to tailor their own unique plans to fit their needs. We offer a variety of HR services that allow you to remain in control while creating a customized program that benefits your employees. Contact us today to learn more about the HR services we offer and how they can fit into your business.

  • As the U.S. continues to experience rising inflation, there is immense pressure for business owners to increase employee wages. As of June 10th, the U.S. Department of Labor (DOL) reported the inflation rate reached 8.6 percent

    The Continued Workforce Shortage 

    The gap between job openings and available workers has continued to widen. The unemployment rate within the U.S. hit over 5.5 million in the month of April. This equates to two jobs per every unemployed worker. The continued pressure on wages has created an increase in the consumer price index (CPI). The CPI has risen to over 8.5% — biggest price 12-month increase since 1981. The labor shortage combined with inflation has become detrimental for businesses.

    The Rising Cost 

    Workers have begun taking advantage of the tight labor market. Despite the unemployment rate falling in recent months, the U.S. is still enduring a major gap. As inflation continues to rise, employee take-home pay holds less buying power. The recent surge in inflation leaves employees desiring more wages and benefits. As a result, employers are now offering increased compensation in hopes of attracting top talent, while remaining competitive. 

    According to SHRM, the average budgeted salary in 2022 climbed to 5.2 percent, compared to 4.5 percent last year. Many companies must adjust where budgets are typically set in advance. To keep key employees, some businesses are planning a midyear pay increase and salary adjustments – in addition to annual raises. While employers continue increasing salaries to retain their top talent, they must implement changes to attract new talent.

    Employee Benefits Options

    One way to remain competitive within the current market is to offer perks beyond salary adjustments. Companies are providing remote working options, providing gift cards to their employees for gas and groceries, and increasing bonus opportunities. Other organizations are offering additional perks such as student loan reimbursement, daycare options, or fertility benefits. These investments have a payoff as employees want to feel supported and appreciated.

    How GMS Can Help

    Due to rising inflation, it is vital for employers to remain competitive. When you partner with GMS, our HR experts can help you attract and retain top talent. Along with providing you top-of-the-line benefits, while ensuring the lowest rate. Our team supports your business through all unprecedented times and ensures your business has all the tools to remain competitive and successful. Contact us today to learn more.