Late last week, the IRS published additional guidance modifying the COVID-19 coverage that high deductible health plans (HDHPs) can provide while maintaining their HSA-qualified status. This notice was provided in response to the end of the COVID-19 Public Health Emergency (PHE) and National Emergency Period.
Artificial Intelligence, or AI, has been painted in a negative light even before it exploded onto the scene in a big way with ChatGPT. One example is the movie Terminator 2: Judgment Day, where the AI known as Skynet has taken over the world and awoken killer machines to destroy humanity.
And recently, horror stories have been creeping up in the news.
One story involves the Writer’s Guild of America (WGA), a TV and movie screenwriter collective. They went on strike on May 2, 2023, which is still ongoing. Besides fair residuals from streaming content, one of the issues behind the strike is that writers want AI tools like ChatGPT to help only with research or brainstorming ideas, not to replace writers.
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The pandemic and the economic downturn that followed put many businesses in shaky situations and left people in uncertain situations that they may still be navigating to this day.
It’s not the first, or the last, time in history that business leaders navigated uncertainty. Businesses have been succeeding and failing since capitalism began. It’s a fact of life when you go into business, sometimes you win, and sometimes you lose.
Innovation is important– no matter what industry you’re in.
Some may say innovation is a buzzword, but leaders need to keep an eye out for new and exciting ways to do so that they can grow, thrive, and survive in an ever-changing business environment. After all, you can’t solve new problems with old solutions.
Leaders can’t just skip to the fun, though. They need to cultivate an innovation culture that encourages (and inspires!) everyone. To do this, leaders must understand their role, any behaviors that drive innovation, and how to sustain that kind of culture once it’s created.
“Business risk.” A phrase that may sound alarming, yet it’s part of owning a business. Both internal threats (slip and fall hazards, theft, high employee turnover) and external threats (economic downturn, computer hacking, a pandemic) can threaten to crumble your business’s foundation, but how you prepare, prevent, and reduce the amount and degree of risk is entirely up to you.
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The federal Section 125 “cafeteria plan” regulations permit health plans to reimburse participants for qualifying medical and dependent care expenses on a pre-tax basis through health flexible spending accounts (FSAs) and dependent care assistance plans (DCAPs).
If claims are improperly substantiated, any contributions participants make into these reimbursement accounts can lose their tax-favored status and may instead become subject to taxation as gross income for participants.
Many companies have an onboarding process and know what to do when welcoming employees into the fold of everyday operations and processes.
But what about offboarding?
In a Zippia survey, 71% of respondents said they had no formal offboarding process, which shows that either companies haven’t created their offboarding process yet or are confused about implementing one.
In today’s competitive landscape, we’re constantly told there are things we need to cultivate in order to gain success.
While scrolling through social media, we see videos promoting skills we need to learn to get our next raise, get hired, or grow in our careers. We’re trained to compete with one another, stand out, set ourselves apart from our peers, and be successful.
Learning skills and educating ourselves is, quite literally, at the core of professional success. But at what point does this kind of competition get in the way of finding success?
What is it that holds you back? What pushes your employees or peers to burn themselves out? What halts growth and stifles innovation? What keeps cultures from overcoming periods of apathy? Some might point to poor company culture, faulty leadership, or even personal mental health and wellness. But one thing ties them all together—permission.
