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Since the open enrollment period for 2024-2025 began on November 1, employees, individuals, and HR teams now have the opportunity to review and choose health insurance plans that best meet their needs. This annual opportunity is essential for securing the right coverage and avoiding costly gaps in care.  At Vantage Point Benefit, we understand that …

Continue reading “How to Prepare for Open Enrollment: Best Practices for Health Insurance”

Parental leave has become a critical topic of discussion in the United States. For new parents, navigating the world of parental leave—whether it’s maternity, paternity, or family leave—can be overwhelming. Unlike many developed countries, the U.S. lacks a comprehensive federal policy guaranteeing paid parental leave, leaving many employees to juggle family responsibilities with work commitments. …

Continue reading “Parental Leave in the US: All you need to know”

Recent changes to federal labor laws are set to significantly impact the landscape of overtime eligibility for salaried employees across the United States. On April 23, 2024, the U.S. Department of Labor (DOL) released its final ruling on updating the minimum salary requirements for overtime exemptions under the Fair Labor Standards Act (FLSA). Key Takeaways: …

Continue reading “DOL Raises Salary Threshold for FLSA Exempt Employees”

What is the Retirement Savings Contributions Credit or the Saver’s Credit? The Retirement Savings Contributions Credit also known as the Saver’s Credit offers a benefit for low-to-moderate-income taxpayers making eligible retirement contributions, functioning as a nonrefundable credit to lower owed taxes potentially to zero.  The Saver’s Credit offers a financial incentive for individuals contributing up …

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The start of a new year presents an excellent chance to enhance your retirement savings. A 401k plan is a retirement savings plan provided by an employer to its eligible workers. This plan allows for payroll deductions to be made either before taxes, following the traditional 401k plan format, or after taxes, as seen in …

Continue reading “Secure Act 2.0 Explained: Transforming Your 401k & Retirement Planning”

This year, it’s essential for employers to focus on refining their benefits packages to meet the unique challenges faced by their workforce. Many employers have already recognized the importance of enhancing their strategies for retention and engagement, and this remains a critical priority. Developing comprehensive and responsive benefits plans is key to addressing the evolving …

Continue reading “Employee Benefits Trends for 2024”

As remote and hybrid work becomes more prevalent, companies with staff operating across various states must be well-versed in the payroll nexus regulations specific to each state or region where their employees or businesses function. In this piece, we’ll delve into the effects of payroll nexus regulations on your business’s tax and payroll records, while …

Continue reading “Understanding Payroll Nexus: Essential Information & Requirements”

Recently, President Biden declared that the COVID-19 Public Health Emergency and which has been in effect since March 2020, will come to an end on May 11, 2023. The related National Emergency ended on April 10, after a bipartisan congressional resolution was signed to bring it to a close after three years — weeks before …

Continue reading “What does the end of the Covid-19 Public Health Emergency mean for employers?”

Since the pandemic, companies have dealt with the complexities of employment law related to remote and hybrid workers. It’s estimated that as of 2022, 26% of employees in the United States work remotely, and it’s projected that the number will reach 36.2 million by 2025. During the pandemic, 40% of workers reported being more productive …

Continue reading “DOL guidance for remote workers under FLSA & FMLA”

In 2022, employers made changes to their health benefits in response to the COVID-19 pandemic. Two of the more common responses were to increase employer contributions to health insurance and add more telemedicine options to benefits packages. At the beginning of the year, the quality of an employer’s health plan was important to prospective and …

Continue reading “Employee Benefits Trends for 2023”