Sean Duffey

Interesting in joining PIHRA? Become a PIHRA member with the All-Access Pass today! This complimentary pass provides you with an insider's view of PIHRA's impact on the HR Community in California. For 30 days, you can experience impactful education, powerful networking, and handy online tools. Then, you can decide to activate an annual membership for only $150. This offer EXPIRES on April 30, 2024. Take advantage of this great offer here: https://lnkd.in/gjiueTDh If you have any questions about PIHRA, please let me know. I would be happy chat. #networking #hrnetworking #humanresources

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California has seen a significant rise in interest among employers for self-funding and employee benefits captives, largely due to increasing healthcare costs and the flexibility these models offer. Many California businesses, particularly mid-sized firms, are turning to self-funded plans, often coupled with stop-loss insurance, to manage expenses and have more control over benefits. A survey indicates that over 80% of health insurance executives report a growing employer interest in self-funding, driven by the need to avoid certain ACA-related fees and to gain control over claims data and cost containment strategies. Companies are increasingly adopting self-funded plans to reap the benefits of their cost-saving wellness initiatives directly rather than paying a fixed premium to traditional insurers. Employee benefits captives are also emerging as a compelling choice, especially among organizations with 100 to 900 employees. Captives allow groups of like-minded employers to share risks while enjoying potential savings if claims are low, providing a buffer against high-cost years. By pooling resources, these employers benefit from a shared stop-loss premium, which is often less volatile than self-insuring alone. With this structure, businesses not only control plan design and costs but also gain insights into participant healthcare usage, which can guide more targeted and efficient healthcare solutions. Some captives even offer added benefits like pharmacy coalitions and catastrophic claims technology, making them attractive for cost-conscious employers aiming for better financial stability and improved benefits​ Conner Strong ​ California Broker ​ Self-Insurers' Publishing Corp. .

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𝗖𝗮𝗹𝗶𝗳𝗼𝗿𝗻𝗶𝗮 𝗪𝗼𝗿𝗸𝗲𝗿𝘀' 𝗖𝗼𝗺𝗽 𝗗𝗶𝘀𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗕𝗲𝗻𝗲𝗳𝗶𝘁 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲: 𝗪𝗵𝗮𝘁 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗞𝗻𝗼𝘄 𝗳𝗼𝗿 𝟮𝟬𝟮𝟱 As we approach 2025, California employers should prepare for changes in workers' compensation disability benefits. Starting January 1st, Temporary Total Disability (TTD) and Permanent Total Disability (PTD) benefits will increase by 3.8%, impacting the maximum and minimum weekly payouts for injured workers. • The weekly maximum TTD/PTD payout will increase from $1,619.15 to $1,680.29. • The weekly minimum payout will rise from $242.86 to $252.03. • This adjustment is based on updated wage data provided by the U.S. Department of Labor. Employers should take note of these updates and work with their brokers to adjust their workers' compensation strategies accordingly. If you’re looking for strategies to improve results on your claims, I’d be happy to talk through some solutions with you. https://lnkd.in/g-g8dqqv

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Important Update: California Workers' Compensation Rates California Insurance Commissioner Ricardo Lara has made a pivotal decision, rejecting the insurance industry's request for an increase in workers' compensation advisory pure premium rates. Instead, a 2.1% rate cut has been ordered. Effective Date: September 1, 2024 Background: The Workers' Compensation Insurance Rating Bureau (WCIRB) had initially requested a 0.9% rate increase, following a previously rejected 0.3% increase request. Commissioner Lara’s decisive action now lowers the annual benchmark rate from $1.41 to $1.38 per $100 of payroll for workers’ compensation insurance — marking a 2.1% decrease from last year. Key Points: Downward Trend: The average charged rate in 2023 was $1.60, reflecting a consistent decrease in market rates since 2015. Market Impact: This rate cut supports a competitive and financially robust workers' compensation market in California. Protecting Interests: This move underscores Commissioner Lara's commitment to safeguarding the financial interests of both employers and workers. For more information, check out the full release:

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Now more than ever, it is important for business leaders to stay up to date on the evolving and complex legal and regulatory landscape. Register today for our Seattle Compliance & Benefits Summit, Tuesday, April 23 from 8:00-11:30am at the Bellevue Club and learn how your organization can remain compliant with practical and personalized benefits guidance for your employees. Register and learn more: https://ow.ly/3mqf50RljNy #Compliance #Benefits #RiskManagement

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California increased the paid sick leave bar on 1/1/24, requiring employers to provide 40 hours (5 days) per year. Our FAQ guide can help clarify accrual methods and impact on your part-time workers. Check out the details! #sickleave

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Discover how effective communication can shape an organization! Touching on the best practices for employee benefits, my colleague Brian Hegarty, Managing Director Marsh McLennan Agency, lends his expert insights to the Los Angeles Times' Employee Benefits and HR Practices Roundtable. #EmployeeBenefits #HR #MarshMMA

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The California HR Conference is HERE! If you are attending in person, today or tomorrow, stop by and say hello to the IMA Financial Group, Inc. team at booth #19. Looking forward to seeing you there 😊 Professionals In Human Resources Association | PIHRA #PIHRA #HumanResources

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A Workplace Violence Prevention Plan requirement is coming soon in California. Are your clients ready? Chubb agents come learn how Chubb and the Ackerman Group can help.

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SB 525 will necessitate significant changes in California healthcare organizations’ compensation programs. And rather than simply bringing all applicable employees to the new minimum wage levels, many organizations will consider nuanced pay adjustment strategies and optimizing their broader total rewards strategies. Find out more about the impacts of SB 525 today. #HumanResources #compensation #healthcare

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Time to think about some raises for your employees! California's workers' compensation dual wage thresholds are changing on September 1. This shift is crucial for accurate employee classification and premium calculations. Unaware businesses risk: 1.    Misclassifying employees 2.    Inaccurate premiums (over or underpaying) 3.    Potential audits and penalties 4.    Compliance issues Interestingly, this change might present a cost-saving opportunity. Consider this scenario: An employee's wage is just below the new threshold. By providing a small raise that pushes them over the threshold, you could potentially reclassify them into a lower-risk category. This reclassification could lead to reduced workers' comp premiums, potentially outweighing the cost of the raise. To stay ahead: 1.    Review employee classifications 2.    Adjust payroll reporting 3.    Update HR systems 4.    Consult your insurance provider Don't let this change catch you off guard. Proper preparation can protect your business and may even uncover unexpected savings. Let's discuss how these new thresholds affect your specific situation and explore potential strategies to optimize your coverage and costs. #CaliforniaBusiness #WorkplaceCompliance #InsuranceTips #PayrollManagement #InsuranceUpdate #RiskManagement #BusinessCompliance

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#California business owners- We’ve got a great resource to help you stay on top of the latest labor law updates. Join our team at Morris & Garritano, for a free educational webinar. 📅 When: Thursday, December 19th 🕒 9:00-10:00 AM PST 📍 Where: Online Can’t make it? No problem! We’ve got a whole library of recorded webinars covering everything from HR tips to compliance hacks—perfect for busy professionals like you. Follow the link below to sign up! #Webinar #CaliforniaBusiness #LaborLawUpdates

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Self Insured Employers are paying lower workers comp costs and experiencing fewer claims with better results!!! If your looking to reduce your workers comp costs and claims please message me.

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I have sympathy for anyone struggling to afford or find insurance in California (at North Improvement we help plenty of clients in the state). That said, plenty of the pain in CA insurance is caused by years of excessive action taken in the name of consumer protection. This regulatory approach is something a majority of Californians have long supported implicitly and explicitly. While millions were being "protected" from years of heavy rate increases, the growth of CA's poorly capitalized FAIR plan and the sizable exodus of carriers operating in the state put this well intentioned philosophy's limits on display. We never want to see consumers being gouged or overcharged. However, the inability of many companies to achieve an underwriting profit in the state has now limited insurance options for millions of consumers. Seeking to squeak out a profit by charging more for property insurance is not gouging in any logical sense (though the term can be useful politically). Much like a person in a theoretical bubble being suddenly exposed to the life's cruel realities, consumers are now reaping what a once competitive market reduced by an overprotective regulatory stance produces. CA being one of a minority of states that directly elects their insurance commissioner puts a special responsibility on the shoulders of Golden State voters for what is happening and what happens going forward. We may be past simple fixes (e.g., large rate increase request approvals) but we are not past the point for CA's voters to use their sway and the voting booth to change directions. That said, the FAIR plan's doomsday clock sits with hands hanging perilously close to disaster. Solutions must arrive before the next major wildfires risk causing the FAIR plan to buckle. Wildfires in CA are when not if phenomena. Here's to hoping there's plenty of time before a serious one hits in a populated area. https://lnkd.in/eCE9tn54 #CA #CAInsurance #California #CaliforniaInsurance #insurance #insuranceindustry #insurancerates

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🚨 Big News: A major workers' compensation insurance fraud scheme worth nearly $30 million has been uncovered against two farm labor staffing contractors in California. Who: Ruben Perez Mireles Jr. and John Mena, farm labor contractors. What: Alleged underreporting of over $29.2 million in payroll to reduce insurance premiums and evade taxes. Impact: Illegally saved on workers' comp premiums and taxes, hurting legitimate businesses and consumers. Charges: Multiple felony counts including insurance fraud, grand theft, and tax fraud. Response: The task force, including the CA Dept of Insurance and EDD, is ensuring these fraudsters are held accountable. 👉 The insurance industry is on high alert with a significant increase in staffing firms committing workers' compensation fraud in California. Read more below 🔽

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The Alternative Security Program (ASP) is one more reason self-insurance is an employer’s best bet for workers’ comp. Free your working capital with no balance sheet impact. This makes escaping the collateral requirements of a high deductible policy easy. Learn more. #workcomp #workerscomp #workerscompensation #insurance #business #CFO #CEO #humanresources #hardmarket #riskmanagement #brokers #ILOC #ASP

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🏥 **The Critical Importance of Leveraging USI for Your Employee Medical Renewal Reviews** 🏥 Employers, if you’re navigating the complex landscape of employee medical benefits, ensuring you get the best deal for your team is absolutely paramount. Here's why a review by USI should be an integral part of your renewal process: 1. **Expertise and Experience:** USI brings unparalleled knowledge and industry insights, helping you navigate the nuanced world of medical renewals. Their experts understand the latest trends, carrier capabilities, and cost-saving opportunities. 2. **Customized Solutions:** One size doesn’t fit all. USI takes a deep dive into your organization’s unique needs and crafts tailored solutions that align with your culture and workforce dynamics. 3. **Cost Efficiency:** With USI’s comprehensive review, identify hidden fees and redundant coverages. They negotiate better rates and terms on your behalf, ensuring you get optimal value without compromising on quality. 4. **Compliance Assurance:** Keeping up with ever-changing healthcare regulations is daunting. USI ensures your plans are compliant, reducing risk and safeguarding your organization from potential penalties. 5. **Employee Satisfaction:** A thorough review by USI can enhance your benefits package, directly impacting employee satisfaction and retention. Happy employees are productive employees! 6. **Strategic Guidance:** USI’s strategic advice doesn’t stop at renewal. They provide ongoing support throughout the year, helping you adjust and optimize your plans as needed. Partnering with USI for your medical renewal reviews isn't just a smart move – it's essential for sustaining a healthy, happy, and efficient workforce. 📈💼 Let’s prioritize the well-being of our employees while securing financial and regulatory peace of mind. Reach out to me and make your medical renewals seamless, effective, and beneficial for everyone involved. #EmployeeBenefits #USI #MedicalRenewals #WorkforceWellness #EmployerSolutions #HealthInsurance #HR #EmployeeRetention

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