Navigating Employee Benefit Compliance in CT
If you own a company or work as an HR professional, you already know how fluid employee benefits compliance can be. It would be best to actively look out for legislative changes, as one slight oversight will find you on the wrong side of the law.
That said, employee benefits are great for the health of any company. For example, a LinkedIn study shows that companies with excellent compensation and benefits packages saw 56% lower attrition.
Another study pointed out that 35% of employees would consider returning to a company if they received an offer for a better salary or a higher position.
Trying to keep up with all the changing laws may seem overwhelming, but it’s not impossible. Here’s how you can successfully navigate employee benefit compliance in CT.
Review contracts and stay within the law
The first issue is to scrutinize your contracts with service providers. For example, employee benefits service providers often make subtle changes to their contracts yearly. Keeping up with these small changes is crucial for any HR professional, no matter your industry.
Because of how cumbersome it is to peruse every detail in these contracts, most HR execs skim over the documents or delegate these tasks to assistants.
The danger of not reviewing contracts is that any slight change can leave your company vulnerable to suits, posing a risk of financial loss. Some significant parts of the contracts you should review under the microscope include:
- Audit rights
- Dispute resolution
- Contract termination rules
That said, ensure any changes on your part do not violate State laws on age, gender, or race. Also, make updates whenever there are changes to benefits laws. It would help to make any alterations under the watchful eye of an Attorney.
Ongoing education on employee benefit compliance in CT
The State of Connecticut provides a raft of portable and voluntary employee benefits. However, these benefits depend on your position in an organization. Every employer should thus try to educate eligible employees on their rights.
HR should schedule regular education communication to empower employees to make the right choices according to their situation. An easy way to go about it is asking the benefits provider to avail an online platform where workers can access benefit information.
Provide notice of rights
Speaking of eligible employees, you must provide a notice of rights to those who qualify for such rights.
For instance, under the Paid Family and Medical Leave Act (CT PFMLA). Issue the notice upon hiring and annually after that, which must include details such as:
- Opportunity to file a compensation claim
- Details and terms of worker’s entitlement to the family and medical leave
- Right of an employee to file a complaint for violations of this law
- Prohibition of retaliation for requests under this law
Choose the right partner
Navigating employee benefit compliance in CT is tricky, so it’s impossible to overstate the value of settling on a suitable benefits partner carrier. That is especially true if you cater to a diverse age group of workers.
Choose a partner with a strong track record of service model, benefits experience, and solid financials (high AM Best credit rating). A provider with such characteristics will likely guide you in creating a workable strategic approach that will adapt to future demands.
Contact Health Consultants Group
To learn more about how you can help your employees with such problems and other essential HR issues, visit our contact page or give us a call at (800) 367-2482.