Healthcare costs on W2s
Over the past few weeks, the IRS has released new guidelines on the reporting requirements for health plan costs on employees’ W2s. The good news is that employers with 250 employees or fewer don’t have to report the costs of healthcare coverage on W2s until 2014 (for costs incurred in 2013). The bad news is that many, if not most, staffing firms fall above the 250-employee mark. These larger firms will have to start recording healthcare costs on 2013 W2s (for costs incurred in 2012).
One potential upside of this development is that it’s part of a larger trend surrounding healthcare reform: the postponing, delaying and even canceling outright of many aspects of the reform rulings. Many of the requirements that business owners have found most unappealing have been lessened over the past year, which calls into question the future of the larger requirements of healthcare reform.
Coming soon: vacancies!
The recent Employee Benefit Trends Study from MetLife revealed that 1 in 3 American workers plan to be somewhere else in 12 months. Apparently, we’re a nation of burned out, restless, disgruntled employees who are ready to bolt. This is actually great news for staffing firms.
Why? For one thing, because not all of those disgruntled workers are going to wait to leave their jobs. If even 10% of the bolt-ready actually up and do it, that’s a significant number of openings that are perfect for being filled by staffing associates.
Another way it works for staffing firms is that this survey quantifies to employers that they run a risk of having a worker shortage. Talking about the MetLife survey with them can be a great opportunity to introduce the benefits of staffing and how it can help them get through sudden transitions.
So what’s news in your part of the world? Any developments you’d like us to talk about? Let us know in the comments!