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Expanding Your Business – 9 Things You Need to Know
Expanding your business into a new state. Expanding your business to other states is tempting when demand rises, or you want to expand your market. Larger customer base + growing business = rising profits! Opening an office in a new state can create more work than you might imagine. You have thought about office space,…
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Internal Revenue Service released the 2018 annual contribution limits
2018 Annual Contribution Limits. The Internal Revenue Service released the 2018 annual contribution limits related to Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and all Qualified Retirement Plans. Please see below for the changes to current limits in place and consider sending to your employees asking them to take action if they would like…
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Why Chicago Insurance Brokers Love Partnering with Tandem HR
Get ready, Chicago insurance brokers! The PEO industry has witnessed significant changes that may result in your clients exploring PEOs as an option for HR support and administration. Don’t worry; Tandem HR has got you covered! We have a surefire way for you to retain your book of business while continuing to keep 100% of…
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Ask the Benefits Expert: High Deductible Health Plans
What are high deductible health plans and what is their relationship to health savings accounts? High Deductible Health Plans (HDHPs) are health plans that have higher deductibles but offer lower premiums than traditional plans. HDHPs do not have what is referred to as “first dollar coverage”, or co-pays. Due to out of pocket obligation, a…
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One Large Step for PEO Industry = IRS Certification
PEO Industry and the newly Certified PEO status. Tandem HR’s Senior Director of Operations, Greg Foss, discussed the new Certified Professional Employer Organization (CPEO) status with the IRS on Get Down to Business, a radio show for entrepreneurs and business executives that airs on 560 AM The Answer on Sunday evenings from 6 – 7…
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New Cook County Ordinance Proves Major Burden to Businesses
Cook County Ordinance. Cook County recently passed a new Earned Sick Leave Ordinance (ESLO) requiring employers to give workers paid sick time. Effective July 1, 2017 all businesses in Cook County will need to comply with this ordinance, with the exception of those located in the cities that have opted out of this ordinance*. While…
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What is EPLI and Does My Business Really Need It?
EPLI Insurance. Employment Practices Liability Insurance (EPLI) insures businesses against claims by workers who feel their legal rights as employees of the company have been violated. This includes claims of sexual harassment, discrimination, and wrongful termination. What will EPLI insurance cost? Business owners should not feel immune to this type of legality from their…
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2018 HSA Limits Announced by IRS
HSA Limits Set to Rise in 2018. The Internal Revenue Service (IRS) recently released the Health Savings Account or HSA limits to take effect January 1, 2018. The changes are outlined in the table below compared to the 2017 HSA limits. [table id=1 /] Here is a link to the IRS ruling. In order for you…
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Where Does Your Insurance Premium Dollar Go?
Insurance Premiums. With increasing medical costs, the rise of chronic illness and obesity, decreasing insurer competition and skyrocketing pharmacy costs, healthcare insurance premiums are on the rise. When you pay all of your portion of your healthcare premiums, whether through your company or directly – do you understand where that money goes? Most people understand…
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Details of the ACA Replacement Plan Released
American Health Care Act. On Monday, Republicans in Congress released their first draft of an anxiously awaited proposal called the American Health Care Act, which would replace large sections of the Affordable Care Act – commonly referred to as Obamacare. The information contained in this first draft of the American Health Care Act is sure…