Blog

The Departments of Treasury and Labor, along with the IRS has created a time-frame extension affecting group health and welfare, disability, and pension plans due to COVID-19. These new rules apply for 60 days after the announced end of the declared National Emergency. This 60-day period is now called the ‘Outbreak Period’.

A recent Executive Order issued by Governor Cuomo extends health insurance premium payment grace periods for individual and small group plans provided you demonstrate financial hardship as a result of the novel coronavirus (“COVID‑19”) pandemic.

In our continuing efforts to help employers and their employees, we have launched two little-known but very effective tax-deductible reimbursement programs.

Alternative Avenues for Business Support Current & Newly Announced Grants & Loans

Benefit Enhancements OTC Pre-Tax Reimbursement Over-the-Counter Prescriptions (OTC) no longer need a physician’s prescription. This applies to Flexible Spending plans (FSA) or Health Saving Accounts (HSA). It can be retroactively applied on 1/1/2020. Adopting this will require adjustments to your Section 125 plan documents. If you are not familiar with a Section 125 document (they …

Continue reading “How Does the CARES Act Enhances My Benefits?”

Coronavirus Aid, Relief, and Economic Security (CARES) Act How does this law help my business? Expert Summary from the VantagePoint Team: While all the details are not out yet, we wanted to get this in your hands as soon as possible. Here is a summary of the programs

What is the impact on employee contributions, unemployment and employer obligation to pay? Insider Pro-Tips from the VantagePoint Team: Employee Contributions: Q:) If employee contributions are taken from pay to cover a portion of insurance premiums plans, how will this money be collected

Recently, a lot has changed for small businesses, including how the onboarding process will unfold given remote and hybrid work, but also all the workplace safety procedures, dictated by the pandemic. Remote Work During the Pandemic Remote work has become a reality that will continue to be an important part of the way we work, …

Continue reading “New Employee Onboarding Process”

An employee handbook is a useful tool for companies of all sizes. Business owners tend to think of a handbook as necessary as the company becomes larger, but organizations should institute policies and processes as soon as they start hiring employees.

As a manager, do you know what your employees are doing at all times? The answer is most likely, “No.” The manager sets up the daily workflow and expects employees to complete their work to the company’s satisfaction. However, employees are not always focused on work which means there’s lost productivity for the company. Your …

Continue reading “5 Ways to Improve Work Performance”