Health Care Reform Changes

Obamacare. Patient Protection and Affordable Care Act. Whatever you choose to call there is one thing we can all agree on. It is confusing. Here are some of the highlights of what will change for you and your business.

1. No limits.
 Currently, policies have lifetime or year limits such as 1,000,000. Under the new regime, these will not be allowed. Similarly, limits for prescription drugs will also be void.

2.Get a prescription
Over-the-Counter drugs such as aspirin will no longer be covered without a medical prescription.

3. Same health coverage for all.
Many companies have levered higher levels of health care for high ranking execs.Under the new law, all employees must be given equal coverage.

4. Covered until 26.
Have you just hired a college grad? Well, guess what? They are covered on their parent's health insurance until they are 26! He can move out, get married, and graduate college..all while still being covered!

5. Preventative Care has no co-pay
I guess there is no way to get out of the yearly physical now, huh?

6. Grandfathering
As long as your health plan has not changed (no change to deductibles, etc) since March, you are considered to be "grandfathered" in and thus, these changes are not relevant to you.

Manny Pacquiao and Small Business

I recently got sucked into the HBO series that detailed the training of Manny Pacquiao and Antonio Margarito for their November 13th fight. Not surprisingly, Pacquiao won the fight. Yeah, he is smaller that Margarito, but he is also a lot faster. I was immediately struck by the parallel to this fight and the battle that small businesses go into everyday. Sure, we are smaller..but we are also faster. Here's what that gives us:

1. We can make an innovative mover faster.
When big corporations have an innovative idea, it takes a long time to everyone in the company to get on the same page. With small businesses, it takes a lot less planning..which means small businesses have the ability to lead in innovation and technological progress.

2. We have the ability to adjust faster.
When you are the leader of technological progress, there are occasions where you try something out, and it just doesn't work well. Unlike corporate mistakes, small businesses can adjust a lot quicker and cheaper.

Small businesses have some disadvantages over big business...However, some times those weaknesses can actually be turned into strengths if used correctly.

As always, I'd love to hear your thoughts..you can reach me at jdanner@peoplelease.com

The effect of stress

On Wednesday I was going about my week and BAM..I got an extremely severe kidney infection. The cause? Stress. Over the past few days, I have had a great opportunity to look at how I can relieve that stress and do a better job of managing it. Here's what I've decided.

1. Know when to say no

I think one of the most important things that I have learned from this whole debacle is that I have to know when to say no. I just had way too much on my plate. Besides normal work stresses, my husband and I are also in the process of selling our house and moving to our new home. Since last week, I have reevaluated some of the less important holiday task and have reassigned them to others that are just as capable and not as stressed.

2. Knock some stuff out

Everyone has stuff that only they can do. So instead of continuing to try and get a little bit of everything done everyday, I've switched my approach. Now, I am spending a little more time on some specific task to get some more things knocked off of my list.

3. Take time off.

One of the things that everyone knows about me is that I really hate taking time off when I feel like there are things that need to get done. I knew that I wasn't feeling so hot last week, but I pushed through because felt under the gun. Sometimes, a much needed day of rest is exactly what is needed. From now on, I am going to make sure that I am get home early ( okay 7ish)


4. It's not personal, I just don't agree.

Some people are not going to like your work. Especially work that involves creativity and art. My mother thinks Picasso is ridiculous, most of the world would not not agree. I put a lot of mental and creative energy into everything I do, so when someone doesn't like what I'm doing, it's hard to not take it personally. I had a professor tell me once that I spent 30% of my improving my grade from a 97 to a 100. Everyone is not going to like everything I do. So, from now on, I'm going to do my best and leave the rest.

Hope you all have a stress free week!


I love getting your thoughts, you can reach me at jdanner@peoplelease.com




3.

The Cost of Federal Regulation for Your Business

                 How much are Tax Regulations costing your company?

Call us instead! 800.723.3025

Power Words

A friend of mine sent these to me and I thought it was too good not to pass on....


Management Power Words
Built
Demonstrated
Developed
Enhanced
Facilitated
Generated
Impacted
Implemented
Negotiated
Revitalized

Sales & Marketing Power Words
Closed
Collaborated
Delivered
Drove
Established
Generated
Increased
Presented
Prospected
Retained

Technical Power Words
Analyzed
Built
Consulted
Created
Escalated
Formatted
Integrated
Maintained
Programmed
Supported
Troubleshot

Academic Power Words
Applied
Authored
Counseled
Developed
Educated
Evaluated
Mentored
Nourished
Researched
Taught
Tutored

Healthcare Power Words
Assigned
Assessed
Assisted
Cared
Charged
Provided
Monitored
Nursed
Secured

Accounting Power Words
Analyzed
Audited
Justified
Verified
Prepared
Processed
Reported
Researched
Reviewed

The Perfectionist's Guide to Structured Procrastination

A thousand years ago, when I was in college, a friend asked me if I had started an extra-credit calculus project. I replied that I hadn’t. In frustration, she said, “Of course you haven’t..you are such a procrastinator.” Frankly, I was pretty incredulous. In my mind, procrastinators were the slackers…not the president’s list/double major people like me. So, I pretty much disregarded it. Then graduate school hit and I realized that I was a procrastinator…big time. I will never overcome my procrastinating tendencies…but I have figured out ways to manage it.

1.      1.  Understanding Myself

This is probably the most important of all of the steps. Before I could actively work on improving my procrastination, I first needed to understand WHY I was procrastinating. As it turns out, I’m a perfectionist. When a task presents itself, I envision being successful at it. I sell myself on how perfect it CAN be. The problem with perfectionists is that we have incredibly high self-standards. I do not believe that I have ever created something perfect, because I fundamentally believe that it is a physical impossibility. However, I am always aiming for it. It is a sort of dream-the-impossible-dream kind of thing. That amount of self-pressure would make even the best among us crack-and I am certainly not the best. So, my non-conscious solution to this self-induced stress is to procrastinate. After all, no one can create a perfect product when given a limited amount of time…right? Understanding this self-manipulated pattern was my first step to success.

2.      2.  Self-Manipulation

I am always going to have a problem with procrastination. My perfectionism will never go away. So, I have figured out ways to managing it. The first is self-manipulation. When I am presented with a task, I given myself two due dates-an early one and then the actual date that it is due. I mark my calendar and actively work towards the early due date. If I convince myself that the early due date IS the due date, I build in plenty of time for editing.

3.    3.  The list

Every week, I give myself a list of what needs to be accomplished for the week and I rank them based on importance. Similarly, I also do this for the day. So, when I know that I have a due date coming up and I want to do a less important task (because there are always more menial tasks to be completed) I get those out of the way.

 

As always, I love getting your thoughts! You can reach me at jdanner@peoplelease.com

9 Ways to Jump Start Your Business

1. Write(or revisit) your business plan.
You may already have a business plan in place, but with the uncertain economy it is a good idea to revisit your goals and objectives for the next 6 months, the next year, and the next five years. Making your business plan a living document and updating it monthly will help you stay on track and more easily adapt to changes with you customers.

2. Hire a marketing expert.
Building or revamping your internal and external marketing campaigns can breathe fresh life into your organization.

3. Follow up with new contacts & maintain connections with current ones.
You've likely collected numerous business cards, but if you are like me, nothing has been done with them! Following up is critical to business success. Consider sending emails to these contacts, adding them to your prospect newsletter list, invite them to check out your blog, or let them know about special offers that you are offering.

4. Provide clear information.
Provide clear, succinct information about your products and services to your customers. Place a special importance on the benefits they receive and your expertise in meeting their needs.

5. Illustrate your expertise.
You know that you are an expert in your field, but others will know it too if you  write, speak, and network about your niche. You can further build your expertise by writing articles for your blog and newsletter.

6. Define your niche.
Some feel that being more general about what makes you special makes oyu more marketable. Actually, the opposite is true. Most people want to work with a specialist, so the best way to stand out in a crowded market is define your self as one.

7. Keep prices competitive.
In our economically depressed time, everyone is looking for a deal. Whether it is offering something free on your website or providing additional services to your customers, doing something above the norm can give you an edge on your competitors.

8. Promote results and benefits.
People do not want to know the nitty gritty of your business. They just want you to help them reach their goals with efficiency, integrity, and within their budget. Instead of explaining what you do, provide them with the changes that their business will experience if they retain your expertise.

9. Hire People Lease.
One of the best ways to jump start your business is by saving you time & money. Our 25 years of payroll, tax, & benefits expertise can provide you with the ability to spend your time more effectively..After all, who can jump start your business better than you?


As always, I'd love to get your thoughts. You can reach me at jdanner@peoplelease.com

8 Life Changes That Affect Your Life Insurance

 
1. You take on a new expense.
Maybe you have a baby, buy a house, or take on a small business loan. Whatever the case may be, adjusting your life insurance for the change is critical in maintaining your spouse/child/business's financial well being.

2. You divorce or are widowed.
While canceling your policy all together is an option, a better option is to speak with your financial planner. Life insurance can still play a critical role in estate planning and providing for your children. Plus, many divorces require former spouses to continue life insurance coverage.

3. You get rid of debt or expenses.
Maybe those kids are out of college and (finally!) financially independent. Maybe you have finally paid off your home or just gotten out of debt. Whatever the case may be, it might be a great time to reduce those insurance premiums & lower your coverage.

4. You age.
While none of us want to admit, the life insurance we had at 20 just isn't cutting it anymore. Taking a good look at your estate & wealth can help you and your financial planner make the most educated decision about what is the right amount of life insurance for you.

5. You are unemployed or underemployed for an extended period of time.
A long stretch of lower income typically means more debts and less saved. less savings mean that your spouse would be even more dependent on your life insurance if you passed away. unfortunately, those who use the 10-times-income often mistakenly conclude that their lower income means less life insurance is required. The loss of a job also might have ended any group insurance from an employer's benefits package.

6.You stop smoking.
Yea! You have added 10 years to your life AND you have reduced your life insurance premiums dramatically.

Calculating Your Life Insurance Needs

1. Total up your debts.
Include your mortgage, car loans, credit card balances, & college loans.

2. Calculate your children's remaining or future expenses.
Include everything from their weddings to their collegiate educations. Be sure to subtract any money that you have saved for these events.

3. Add 15,000 to cover your own funeral expenses.
Believe it or not, this is actually on the low end of funerals, these days.

4. Divide your current annual income in half,
then multiply that figure by the number of years remaining until you retire, up to 20.

The result of adding together figures from the four steps above should provide enough income replacement for your spouse or family to live comfortably if you die prematurely.If you are a nonworking spouse, you do not need to use the 4-step formula. Instead, a safe estimate is 500,000 in the family's children are preschoolers, 250,000 if in elementary school, and 100,000 if the children are still at home but no longer need a nanny. These amounts should reflect enough wiggle room for reduced wages while your family is adjusting to their new life.


If you are interested in getting life insurance set up for you & your employees, give me a shout at jdanner@peoplelease.com

What is Your Payroll IQ??

Take the following quiz to test your Payroll-Law I.Q on these very common situations:

1. None of your well-paid employees is a minimum wage earner and you don't even have a position that will ever pay that little. Do you have to display that federal minimum wage poster?

2. Not displaying your minimum wage poster is a violation of .....

a. FLSA
b. OSHA
c. EEOC
d. Nothing

3. Is business use of a company vehicle taxable?

4. Willful violations of FLSA laws may be prosecuted criminally and each breach can cost you up to.....

a. $5k
b. $10k
c. $50k

5. A second willful violation of FLSA laws can land you in

a. Legal hot water
b.Court
c. Jail
d. All of the above

6. The statute of limitations for recovering back pay in normal circumstances is......

a. 18 months
b. 2 years
c. 5 years

7. Which situation takes priority in wage garnishments?

a. Federal Guaranteed Student Loans
b. Chap 13 Bankruptcy Order
c. Family Support Payments

8. A family Support order is taking 25% of an employee's disposable earnings. Can any other garnishments be added to the employee's paycheck?

9. Is the personal use of a company car taxable?

10. A terminated employee never picks up his last paycheck. All efforts to contact the employee have failed. How long do you have to wait to "reclaim" that employee's pay?

a. 2 years
b. 5 years
c. 10 years
d. Forever
e. Depends on the State












Answers:

1. Yes, 2. A, 3. No, 4. B, 5. D, 6.B, 7.B, 8. Maybe-Additional Family Support Orders, Tax Levy, or a Bankruptcy Order can be added, 9. Yes, 10. E