The increasing compliance burden is particularly difficult for small and medium-sized organizations, many with one or two person HR departments tasked with day-to-day HR functions. COBRA administration, HIPAA compliance, Flexible Spending Account (FSA) administration and 401(k) administration, and now SBC compliance, make the HR administrator's job complex and daunting. And getting into the weeds on the broad range of compliance issues is not typically within the broker or consultant's bailiwick. According to Grudzien, these burdens will only increase: the DOL and IRS have increased hiring of auditors to monitor compliance across the board, with a particular focus on SBC compliance, which adds pressure to client communication practices. When you work with our firm, you can rest assured that we have the expertise and the systems to help our clients alleviate these burdens.
My Legal Help
Few small or medium-sized businesses have the dedicated resources to prevent costly lawsuits and the loss of intellectual property. My Legal Help provides you with an affordable and responsive means of avoiding employment law mistakes, safeguarding your business and protecting your assets. Our agency provides our clients access to My Legal Help.
DOL Audit Compliance
A recently published ADP survey finds that healthcare reform and increasing compliance complexity “may drive outsourcing of benefits administration.” According to the survey, “forty-five percent of HR/benefits decision makers in midsized companies report that regulatory changes have made them more likely to outsource some or all of their benefits administration, as healthcare reform increases both the complexity and time required to administer benefits.”