Taxes & Employee Benefits

Most Popular Employee Benefits In 2017

employee benefits

Aug 8th, 2017 by TRAXPayroll

Employee benefits are constantly improving, so it is important for employers to keep abreast of the changes that are occurring in their respective industries. This will ensure that they will continue to attract and retain the top talent. Here is a list of the top benefits for 2017.

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How Employers Should Choose Between HRA and HSA

HRA and HSA

Aug 3rd, 2017 by TRAXPayroll

As insurance premiums and medical costs continue to increase, business owners are looking for new methods to lower their insurance related expenses. One common way of achieving this is by raising health plan deductibles. However, transferring the cost to workers can be problematic to employers, especially when it comes to hiring the top talent. Therefore, another option for dealing with rising deductibles is to package a medical plan which is high deductible with a HRA and HSA. Each can be used to fill the gap for a low and high deductible while simultaneously lowering insurance premiums.

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FMLA Leave vs. Short Term Disability

FMLA leave

Jul 20th, 2017 by TRAXPayroll

When employees become injured or ill, or they’re expecting a child, they may decide to take time off work. This leave of absence can be confusing for both them and their employer. The reason for this is because there are different types of off time, two of which are FMLA leave and short term disability leave. Understanding the two types, as well as when employees can use it, is essential.

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What Your Small Business Needs To Know About AHCA

AHCA

Jul 13th, 2017 by TRAXPayroll

The AHCA, or American Health Care Act, recently passed the House of Representatives and is considered the replacement of Obamacare. This has left many small business owners wandering what it means for them and their employees. Below are some important things you should know.

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401(k) Essentials To Know For Business Owners

401(k)

Jun 29th, 2017 by TRAXPayroll

Many business owners will at some point begin thinking about their retirement and that of their employees. The best retirement plan is the 401(k), and the sooner you get started, the better. However, there are some essentials you’ll need to know in order to make the best use of it.

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How To Help Employees Take Advantage Of Small Business HRA

small business HRA

Jun 27th, 2017 by TRAXPayroll

Once a business owner is ready to present the small business HRA to his employees, it is essential to explain the benefits of using it. They should understand that the change will not lower their health benefits, and will instead make them better. Below are some other things you should do.

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Healthcare Insurance Solutions For Businesses With Multiple-State Employees

healthcare insurance solutions

Jun 15th, 2017 by TRAXPayroll

If you run a medium to large sized business there is a good chance you have an employee workforce which operates out of multiple states. In this case it can be challenging to provide them with medical insurance. Healthcare insurance solutions will often have requirements which are state specific, making it tough for employees that operate across state lines. The good news is that there are some options available.

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Using Tax Credits To Hire New Employees Economically

tax credits

May 25th, 2017 by TRAXPayroll

While many companies focus on retaining their workers through salary increases, one way to recruit new workers cost effectively is through tax credits. Many companies have learned the hard way that raising the salaries of their employees beyond a certain point will cause their overall costs will get out of control, emphasizing the need to use other methods to keep a low overhead.

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Understanding The Proposed AHCA

AHCA

May 18th, 2017 by TRAXPayroll

Obamacare has been the subject of both scrutiny and controversy since it was first introduced, leading the government to come up with new proposals to shore up its shortcomings. One proposal has been the AHCA, or American Health Care Act. It has been presented as a law that replaces and repeals Obamacare, and below are the ways in which it will do so.

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How You Can Set Up Health Reimbursement Arrangement (HRA) For Your Small Business

Health Reimbursement Arrangement

May 9th, 2017 by TRAXPayroll

There are a number of steps you’ll need to take to establish a health reimbursement arrangement for your small business. Implementing an HRA for the first time can be overwhelming for some, but by following the steps below and using the right software, the process will be much smoother.

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