News
The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.
DOL’s FAQs on the PUMP Act for Retail and Restaurant Industries
March 3, 2024
As of Dec. 29, 2022, the Providing Urgent Maternal Protections for Nursing Mothers (PUMP) Act expands existing requirements under the Fair Labor Standards Act (FLSA) for employers to provide break time and a private place, other than a bathroom, for employees to express breast milk. Under the PUMP Act, these requirements now apply to almost…
Read MoreMistaken HSA Distributions
February 29, 2024
Health savings accounts (HSAs) have become integral to many employers’ benefits packages, as they offer employees a valuable tool for managing health care expenses while enjoying tax advantages. However, administering HSAs is more than just facilitating contributions. It also requires understanding and involves addressing mistakes with distributions that employees may encounter. This article explores the…
Read MoreCyber Liability – Managed Detection and Response Explained
February 24, 2024
The cyber risk landscape is in a state of constant evolution, with cybercriminals quick to exploit emerging technologies for malicious purposes. In response, businesses are exploring innovative methods to detect and prevent these attacks. One such option is a managed detection and response (MDR) service, which combines technology and human expertise to monitor and address…
Read MoreCyber Update – Deepfake Scammers Con Company Out of Over $25 Million
February 10, 2024
At a briefing on Friday, Feb. 2, 2024, Hong Kong police revealed that a recent cyber incident involving deepfake technology resulted in a finance professional at a multinational firm being manipulated into wiring more than $25 million in company funds to fraudsters. This event showcased the widespread damage that can be caused by deepfakes, which…
Read MoreAshlae Cook – ESOP Interview Spotlight
February 2, 2024
1. Why is being in an ESOP important to you? I believe this is important as it redirects my mindset of who I work for and why. My drive is to always do my best, but I think this re-energizes my work ethic as my success and the success of my team directly affects the…
Read MoreExploring Obesity’s Impact on the Workplace
January 24, 2024
Obesity has become a global health epidemic, affecting millions of individuals worldwide. Beyond its impact on personal well- being, obesity poses significant challenges for employers and workplaces. Whether it’s decreased productivity or increased health care costs, the repercussions of obesity in the workplace are far-reaching. This article discusses the multifaceted impact of obesity on employers…
Read MoreCoping With the Winter Blues
January 14, 2024
As winter settles in, bringing colder temperatures and shorter days, many individuals grapple with a common phenomenon known as the winter blues, which are symptoms of low-level sadness lasting through the winter months. Going beyond winter blues, some people may have a complex type of depression called seasonal affective disorder (SAD). People experiencing SAD show…
Read MoreJuice Jacking Explained
January 4, 2024
Charging a battery through a free public USB charging station may seem innocuous, but doing so could result in costly cybersecurity issues. Through a tactic known as juice jacking, a malicious actor can gain access to an individual’s device when they connect to these ports. Since these charging stations are common in public places like…
Read MoreIRS Announces 2024 Retirement Plan Limits
November 4, 2023
The Internal Revenue Service (IRS) has released Notice 2023-75, containing cost- of-living adjustments for 2023 that affect amounts employees can contribute to 401(k) plans and individual retirement accounts (IRAs). 2024 Increases The employee contribution limit for 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. Other key limit increases include the…
Read MoreFinal Forms and Instructions for 2023 ACA Reporting Released
October 20, 2023
The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056: Draft versions of these forms were released in July, and draft instructions were released in September. No major substantive changes were made to the final forms and instructions for 2023 reporting. Final Instructions Address New Electronic…
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