Keeping in compliance with State and Federal laws can seem like a full-time job. At Charles Newman Co. we take compliance very seriously. By utilizing our proprietary Compliance Resource Manual and other tools, we help our clients assess their vulnerabilities and recommend areas to be improved. We work with vetted third-party administrators who provide our clients with necessary services on an as-needed basis. As an employer, you certainly have your hands full when it comes to keeping up with regulations. We are here to lighten that burden and keep you focused on what really matters. We help keep your business in compliance.
HIPAA & COBRA
HIPAA (Health Insurance Portability and Accountability Act of 1996) was enacted to serve as a safeguard for health and medical records. Not only does HIPAA protect employee information, it also serves to protect people with underlying or pre-existing medical conditions from being discriminated against when it comes to health coverage. Secure records are mandated to be kept and everything is expected to remain in compliance with the U.S. Department of Health and Human Services.
COBRA or Consolidated Omnibus Budget Reconciliation Act of 1985 is another safeguard for health services. Regulations apply to privatized businesses which have at least 20 employees. COBRA protects employees even after life changes such as a change in job. At Charles Newman Co. we help keep your business in compliance, and can help you further break down both HIPAA and COBRA, and why you must remain compliant.
Paid Family Leave
When employees request paid family leave, they are oftentimes obligated to be able to do so. In consideration of the Family and Medical Leave Act of 1993, it is important to remain knowledgeable within this area. Both employers and employees can face anxiety when it comes to this topic. So it is ever-important to be familiar with the realm of compliance when it comes to this topic. Don’t wait for the situation to arise, be prepared now, and have a plan of action to present employees that request paid family leave.
ERISA Documents
Also known as the Employee Retirement Income Security Act of 1974. This is in place to protect employee benefits in the private sector. Violating ERISA can have serious and costly effects as an employer. It is best to seek professional help if you are unsure of the terms of the ERISA documents, so that you may better protect your employees and your business.
Cybersecurity
Cybersecurity compliance in the U.S. relates to private and public organizations which do business with the federal government. Those who receive funds from the federal government must institute the FISMA standards as defined by the NIST Cybersecurity Framework. It is important to remain in compliance for serious legal reasons as well as employee and company security. This area is growing more important as our world becomes more digitally inclined.
HRA/HSA/FSA
employers can offer any of these, and sometimes more than one at the same time. HSAs, HRAs and FSAs are methods used to save on taxes and provide payment for qualified prescription, medical, dental and vision expenses. Each has a unique purpose and it is important to familiarize yourself with each. Take the right steps to ensure employee wellbeing as well as your own when it comes to staying within legal confines of these agreements.
Contact Us
At Charles Newman Co. we help keep your business in compliance. Located in the heart of Peekskill we serve all areas of Westchester County and the Hudson Valley. As a full service firm we maintain relationships with over 60 insurance providers. We are well-versed in all areas of the law as it pertains to compliance regulations and we are happy to assist you. When it comes to keeping your business in compliance, don’t take chances and wind up with legal repercussions. Call Charles Newman Co. to take the right steps toward protecting your business and your employees.
