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HR Support on Insurance
Editor's Note: Expect the unexpected with a properly insured workplace.
Overview: There are many different types of insurance that a workplace could get to avoid liability and loss when the unexpected occurs. Whether the insurance covers natural disasters, company cars, employer discrimination or anything else that could affect the workplace, it is always best to be prepared.
What insurance is right for an employer depends on the size, location and industry of the employer. Performing a risk analysis can help decide what insurance bests fits the individualized work environment.
Ashley Shaw, JD, Legal Editor
Latest items in Insurance
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Taxation of Employee Benefits
Employee benefits, such as health insurance, sick pay, disability pay, workers' compensation insurance and retirement savings plans, may be subject to withholding for federal income taxes (FIT), Social Security and Medicare (FICA) taxes or federal unemployment (FUTA) taxes. This section assists HR professionals in understanding how each particular type of benefit plan must be structured and how to properly tax and report contributions, reimbursements and distributions in order to ensure compliance with the Internal Revenue Code.
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New Hampshire Unemployment Notice Poster
New Hampshire Unemployment Notice poster, mandated by New Hampshire Employment Security, is required by all employers.
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Kentucky Unemployment Insurance Benefits Poster
The Kentucky Unemployment Insurance Benefits poster, mandated by the Kentucky Education and Workforce Development Cabinet, is required by all employers.
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Kansas Unemployment Insurance Poster
The Kansas Unemployment Insurance poster, mandated by the Kansas Department of Labor, is required by all employers.
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Georgia Employer Vacation Poster
As mandated by the Georgia Department of Labor, all employers must post the Georgia Employer Vacation poster.
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Georgia Unemployment Insurance for Employees Poster
As mandated by the Georgia Department of Labor, all employers must post the Georgia Unemployment Insurance for Employees poster.
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Illinois Unemployment Insurance Benefits Notice
The Illinois Unemployment Insurance Benefits Notice, mandated by the Illinois Department of Employment Security, must be posted by all covered employers.
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Iowa Unemployment Insurance Poster
The Iowa Unemployment Insurance poster, mandated by the Iowa Workforce Development, is required by all employers.
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Taxation of Employee Compensation
Employees' salary and fringe benefits are subject to federal income taxes, Social Security and Medicare taxes, and federal unemployment insurance tax. However, certain cash and noncash fringe benefits may be offered to employees on a tax-free basis, while an otherwise tax-free fringe benefit becomes taxable compensation to employees if employers do not meet the rules for that particular fringe benefit .This section assists HR professionals in determining which fringe benefits (e.g., company car, health benefits) and other compensation (e.g., bonuses, awards) are taxable or not.
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Sequestration May Impact Federal Contractors
If Congress and the White House do not reach a deal on the sequestration,employers with federal contracts should be prepared to take immediate action to deal with drastic cuts in government spending that will result. Federal contractors should anticipate how the sequestration will directly affect their workplace with respect to complying with Worker Adjustment and Retraining Notification (WARN) Act, wage and hour requirements, benefits and immigration status as well as unions and collective bargaining agreement issues. Employers should also expect possible lawsuits from workers laid off due to spending cuts.
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HR guidance on obtaining proper insurance for the workplace.