Category Archives: Benefits

New Years – Wages Increase

Missouri’s low paid workers are getting a raise.

Starting New Year’s Day the minimum wage in Missouri will increase to $7.65 an hour.  This an increase from the $7.50 rate in 2014.

The rate for tipped workers in Missouri will rise to $3.83, an increase of 9 cents.

A law passed in 2006 provides an annual cost-of-living adjustment to Missouri’s minimum wage.

 

 

Health Insurance Notifications

photo credit: Images_of_Money via photopin cc

photo credit: Images_of_Money via photopin cc

Does your business have employees? If the answer is yes then you have a notification requirement!

With the Affordable Care Act (ACA) or “Obamacare” there is notification that should be provided to every employee and to all future new employees. These notices are required by the Department of Labor.

The Department of Labor has provided sample forms and they are different for companies that provide health insurance than companies that do not provide health insurance.

The notice provides the employee with the companies health insurance info as well as information on the Health Insurance “Marketplace”

The employer should complete the information concerning health insurance and provide it to each employee.

These notices should be provided to current employees by October 1, 2013 and to all new employees at the time they are hired.

We recommend employers have the employees acknowledge receipt of the form. An sample acknowledgement is attached.

If you have a company insurance plan, your carrier has provided forms or your company does not provide health insurance the Department of Labor has provided sample notifications: http://bdsaccounting.com/free-business-forms.htm

The current law does not require Employers with total revenues under $500,000 notify employees. However, we recommend that all businesses – even business where the only employee is the business owner – notify all employees.

photo credit: Bill Kramme via photopin cc

photo credit: Bill Kramme via photopin cc