Business Resolutions

From the Union Leader to the Boston Globe to the Wall Street Journal, business writers and analysts are predicting a general increase in hiring for 2011. Early economic indicators, including the Dow edging tantalizingly towards 12,000, suggest consumer confidence is returning to a level not seen for several years. This is welcome news after countless reports of layoffs, work force reductions, and hiring freezes.

Is your business ready to add new employees? Talking to business associates has revealed an understandable but dangerous tendency to let hiring procedures, company policies and employee handbooks unattended during this recent negative economic cycle. With many companies experiencing a downturn in earnings, it was hard to justify added expense in reviewing these types of materials. Now, however, with news that the recession is “officially over” and publication of positive predictions, this may be a good time to revisit company procedures and update policies, manuals, and forms. Please feel free to contact me with any questions you may have about the best manner in which to do this; or call Meredith Cook at 629-4511 to discuss updating your employment policies; or, call Mona Movafaghi at 629-4523 to discuss immigration issues. This is an opportune time to revamp employer policies and hiring information, and place your company in a good position to expand your work force as, hopefully, it and the economy grows again.

-Submitted By Christopher Pyles, Esq.
603-629-4725
cpyles@wiggin-nourie.com

Lesser-Known Aspects of Health Care Reform

With a law spanning thousands of pages, it is no surprise there are components to health care reform receiving little attention. Here are a few:

* Small businesses with fewer than 25 full-time employees may be eligible for tax credits to purchase health insurance for their employees if the employer's workers have average wages of less than $50,000.

* Beginning January 1, 2011, nonprescription drugs cannot be reimbursed tax-free through a health savings account (HSA) for flexible spending account (FSA).

* Employers must provide an unpaid breastfeeding break for nursing mothers. Employers with 50 or more employees must provide a nursing location other than a bathroom that is shielded from view and free from intrusion by co-workers and the public.

* Employers will be able to offer employees rewards of up to 30% of the value of coverage for participating in wellness programs and meeting certain health-related standards, but this provision will not become effective until 2014.

* Effective January 1, 2011, employers must report the value of employer-provided health coverage on each employee's W-2 form.