hr360 could be just the tool to make HR easier! Packed with up-to-date information that is crucial to any business; this easy-to-use program can help any company in BIG ways! Many federal and state requirements apply to companies with as few as 1 employee, so you are never too big or small for an HR compliance library.
There are many things that are beneficial when it comes to hr360. Facing a problem with an employee? There is a video for that! Wanting to create a new employee handbook or update an existing one? There is a template for that! There are over a hundred videos that go over topics that can help improve the workplace as well as templates for various forms and documents needed for any business.
Regulations are always changing and every state is unique. Luckily, with an hr360 subscription, businesses can stay current on any laws or policies that may affect a business in their state. HR360 members receive a monthly newsletter, covering hot topics such as ACA reporting, employee retention, and workplace harassment.
It is crucial, especially in today’s environment, that companies have specific regulations and procedures in place. This way, companies are safe from potential fines, fees, and penalties in any situation.
hr360 can also offer:
- Salary Benchmarking
- Not sure what to make an employee’s starting salary? This tool allows employers to insert information about the job and experience level and then hr360 provides them with a salary benchmark. Depending on the company and employee, it provides a low-high range.
- Sample Job Description Builder
- Looking to hire someone new? This tool provides sample job descriptions for a variety of positions, making it easy to post a job!
- Performance Review Builder
- This process allows managers to develop a performance review! hr360 also takes it a step further by providing comments based off their answer. This can allow employers to pinpoint problem areas with employees and ways to communicate improvement.
- Multi-State Comparison Tool
- This allows users to pick the state that they want information about, and then pick the specific topic they are searching for (ex. minimum wage, meal and rest breaks, and unemployment). This makes it easy to access information quickly, so business owners or HR employees can make informed and fast decisions.
- Federal Poster Adviser
- Whether companies are big or small, the DOL requires that certain posters are displayed in a workplace to inform employees of various policies. These separate posters can cost a lot of money, especially if there are frequent updates. Depending on the state, it is difficult to know which required posters to display. Luckily, the hr360 Federal Poster Adviser informs companies which ones need to be posted. Even better, hr360 provides printable versions for subscribers!
In 2018, BASE® is excited to provide business owners and HR professionals with a tool that can better employee management and help provide understanding and implement HR best practices. Contact BASE® today to get your HR360 subscription!
Learn More What Qualifies as a Medical Expense with a Flexible Spending Account
How much money will be lost to Flexible Spending Accounts in 2017? By now everyone knows that Flexible Spending Accounts can be a great idea – until that money has to be forfeited because it wasn’t spent. Did you know that nearly 29 million U.S. workers have one, and many are unaware that money left unspent in it can be forfeited? (9 Ways to Make the Most of Your Flex Spending Account).
A BASE® Flexible Spending Account gives employees an option to set aside a specified amount of pre-tax dollars from each paycheck to pay for out-of-pocket medical expenses throughout the year. FSA dollars can be used to cover a broad range of costs. In addition to the deductible and prescribed over-the-counter health items, generally it can be used for copays, coinsurance, and prescription drugs and supplies. (It’s Use It or Lose It Time for Many with Flexible Spending Accounts). For a complete list of qualifying medical expenses under the IRS Publication 502, CLICK HERE.
Some examples of expenses you might not know that qualify are:
- Eye Exams, Eye Glasses, and Contact Lenses – Eye exams are recommended annually. Along with an eye exam comes the possibility of a prescription for glasses or contact lenses. Anyone who wears glasses or contact lenses knows that they don’t come cheap.
- Prescribed First Aid Supplies and Sunscreen – It is hard enough to keep enough Band-Aids in the house, along with other first aid kit items throughout the year. Plus, summer will be here soon, and last year’s sunscreen tubes should be thrown out. Stock up and use the health care FSA to do it. Families know that these are necessities. In order to be considered a qualifying medical expense, first aid supplies and sunscreen need to be prescribed by a doctor.
- Hearing Aids – When it comes to hearing aids, the cost of the hearing aids and its batteries, as well as repair and maintenance expenses qualify.
- Diabetic Supplies – Blood sugar monitors, test strips, and any diagnostic testing supplies, including testing for health problems other than diabetes.
- Dental Treatment – Don’t put off that dental exam, filling, or root canal any longer. Having an FSA is now a good reason to go.
- Chiropractor – Whenever a trip to the chiropractor is needed from those long days at the office or cleaning the yard on the weekend, those appointments are eligible under the FSA.
Not sure where to start on how much is needed to put into a Flexible Spending Account each month? One way to avoid the “use it or lose it” rule is to learn what qualifies as a medical expense and how much is needed to cover these costs for the year. Check out the BASE® 125 Cafeteria Plan Tax Savings Calculator, HERE. It is a great indicator for the potential savings that can be realized.
For example, if an employee, with an employer-sponsored FSA, knows they have a $1,000 deductible for the year, and spends roughly $500 on copays, first aid supplies, and other qualifying medical expenses, they would want to align those expenses with their Flexible Spending Account. Any given year can bring about the possibility of unexpected health issues, an extra dental, chiropractor, or eye doctor visit, or illness, so planning ahead is necessary. With proper planning, an FSA is a great tool in helping manage health care expenses for the year. Whether or not the FSA can roll over into the next year, or is forfeited at the end of the year, talk with BASE® and get a plan for the year ahead.
To learn more about what is considered a “qualifying medical expense” or Flexible Spending Accounts (FSA), contact BASE® at 1-888-386-9680.
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