R&R Insurance Blog

One of the most common, and usually preventable claims, we see year round is tree damage to homes and cars.  Occasionally, poorly maintained trees can cause injury to people or pets. And lets not forget when a poorly maintained tree on your property falls onto your neighbors house ... it makes those neighborhood block parties a little “interesting”! 

These claims can be not only dangerous, but also costly.  Preventative tree care should be part of your overall home maintenance program. 

1. Landscape care in the Fall
   • Prune unruly branches (leave the larger ones to the professionals!)
   • Inspect trees for dying limbs, insect damage, or signs of disease
   • Nourish trees with water and mulch
   • Plant new trees in the Fall
2. Do not build new structures near or around a tree - it can damage tree roots and growth space
3. Monitor and observe trees over time
   • Get a guide for identifying types of trees and potential disease 
   • Have an ISA-Certified arborist visit your property for an assessment on the health of your trees
4. Choose the right trees for your property
   • How tall and wide will the tree become?
   • How fast will the tree grow?
   • Does it lose leaves in the winter?

In Fall, it is also important watch for leaves that fall on your driveway or street - wet leaves become a slip and/or driving hazard.

Enjoy the beauty that nature offers with a well landscaped yard.  It also keeps you, and your neighbors, safe!

On Wednesday, July 17th, the Internal Revenue Service added care for a range of chronic conditions to the list of preventive care benefits that may be provided by a high deductible health plan (HDHP). The new list is optional for a plan sponsor of HSA qualified HDHP plan to offer without impacting the member’s opportunity to fund their HSA account.

Individuals covered by an HDHP generally may establish and deduct contributions to a Health Savings Account (HSA) as long as they have no disqualifying health coverage. To qualify as a high deductible health plan, an HDHP generally may not provide benefits for any year until the minimum deductible for that year is satisfied. However, an HDHP is not required to have a deductible for preventive care (as defined for purposes of the HDHP/HSA rules).

The IRS and the Department of Health and Human Services have determined that certain medical care services received and items purchased, including prescription drugs, for certain chronic conditions should be classified as preventive care for someone with that chronic condition as specified in Notice 2019-45. Any medical care previously recognized as preventive care for these rules is still treated as preventive care.

For more details, learn more here. If you have any questions, please contact a KnowledgeBroker today!

On June 24th, 2019, President Trump signed an executive order on hospital and insurer price transparency. The Centers for Medicare and Medicaid Services (CMS) will decide through rulemaking whether hospitals and insurers will need to publish individual rates or whether they can keep their pricing information more general and publish only aggregate rates. Administration officials did not confirm when the rulemaking will take place, saying only they will use “any and all regulatory vehicles” that can carry out its directives.

The language of the executive order is not public yet, but Health and Human Services (HHS) Secretary Alex Azar laid out the five policies the order is set to address:

1. HHS will need to issue the rule on hospital price disclosures, mandating that they disclose in an easy-to-read format the prices to reflect what insurers and patients actually pay.
2. HHS will also, through rulemaking, require providers and insurers to disclose to patients their out-of-pocket cost before they go in for care.
3. HHS will need to propose a way to consolidate quality measurers across all healthcare programs.
4. HHS will look into how to store de-identified healthcare claims data so researchers can analyze it to make improvements to the system.
5. The Treasury Department is tasked with expanding uses for health savings accounts.

For more details, learn more here. If you have any questions, please contact a KnowledgeBroker today!

Combined with rising tuition costs, more people are attending college than ever before. Sixty-one percent of millennials have attended college compared to forty-six percent of baby boomers. The class of 2017 graduated with an average of $39,500 in student debt! In recent years, some employers have begun offering student loan repayment help.

Millennials entered the job market after the recession which has resulted in fewer job opportunities. Of those job opportunities, many have had to accept jobs at lower starting salaries. With millennials making up the majority of the workforce, businesses must alter their tactics in order to stay ahead as many new graduates are seeking companies that offer non-traditional benefits like student loan repayment assistance.

According to a study by Iontuition, 80% of individuals would like to work for a company that offers student loan repayment assistance with a matching opportunity.

Right now, only 3% of employers offer student loan aid according to the Society for Human Resources Management. But the interest in this millennial benefit is definitely growing among employers.

While it can seem like all of the benefit is for the employee, there are benefits the employer can reap as well. By offering a non-traditional benefit, such as student loan repayment, you will have something that can boost your recruitment and retention strategies.

To learn more about the future of offering a student loan repayment program and the benefits to both employees and employers, click here.

If you have further questions, please contact a KnowledgeBroker today!

Alzheimer’s & Brain Awareness Month | June

Did you know that, worldwide, 50 million people are living with Alzheimer’s and other dementias? Spreading awareness of this disease is important as it can be difficult to distinguish as the early signs closely resemble the natural signs of aging.

So, what exactly is Alzheimer’s disease?

Alzheimer’s is a disease of the brain that gradually destroys the ability to remember, reason, imagine and learn and is something that progresses over time. Since this disease is something that can go unnoticed, here are some things to lookout for:

Risk Factors:

• Increasing Age
• Family History
• Genetics
• Serious Head Injury

 Symptoms:

• Memory loss that disrupts daily life
• Challenges in solving problems
• Confusion with time or place
• Trouble speaking or writing

For a more complete list of risk factors and the 10 warning signs or how to go about diagnosis and treatment, learn more here.

To learn more on how to spread awareness and be a part of the movement within your community, visit the Alzheimer’s Association website at https://www.alz.org/abam/overview.asp and join them in going purple for the month of June.

If you have any questions or comments, please contact a KnowledgeBroker at R&R.

With the employee shortage many companies are facing, attracting and retaining talent is critical. An untapped resource for many industries is younger talent – such as high school students. While minors can be a very valuable resource for employers, there are best practices to keep in mind so your organization continues operating safely and efficiently.

Wisconsin's employment of minors laws prohibit the use of certain potentially hazardous equipment by minors under the age of 18. Included on the list are jobs such as:

• Motor vehicle driver and outside helper
• Power driven fixed or portable machines
• Roofing or on or about a roof
• Use of ladders

Note: The list is not exhaustive. If you have questions about a particular piece of equipment, we encourage you to contact the Department's Equal Rights Division or visit the Department of Workforce Development’s website for specific definitions.

Additional considerations when employing minors:

• Minors 15 and under may not be employed in "manufacturing, mining, or processing occupations." This includes occupations that require the performance of any duties in workrooms or workplaces where goods are manufactured, mined, or otherwise processed. See Wis. Admin. Code § DWD 270.13(13).

• The Student Learner Exemption: A "student learner" is a student of an accredited school who is employed on a part–time basis to obtain both scholastic credit and employment training under a bona fide written school-work training program agreement.

• A student learner is permitted to do some work that is otherwise prohibited if the student learner is performing service within a bona fide school-work training program
  • Sponsored by an accredited school
  • Authorized and approved by
    • The state department of public instruction,
    • The technical college system board, or
    • The department's youth apprenticeship program

• Each school-work training agreement shall:
  • Include the name of the student learner;
  • Be signed by the parent, employer, and school principal;
  • Be kept on file by both the school and the employer; and
  • Shall provide all of the following:
    • That the work of the student learner in the occupation declared hazardous under ss. DWD 270.12 and 270.13 is incidental to the student learner's training, and shall be intermittent and only for short periods of time (i.e., for 5% or less of the total work hours);
    • Direct and close supervision of a qualified and experienced person.
    • Safety instructions will be given by the school and correlated by the employer with on-the-job training.
    • A schedule of organized and progressive work processes to be performed on the job.

In addition to equipment, there are other crucial elements to keep top of mind when hiring minors. A sample of these elements include:

• Employees under the age of 16 need to have a Child Labor Work Permit signed by their parent/guardian. Employers must reimburse the $10 fee, as well as provide a letter for the employee to receive their Work Permit.
  • Additional information can be found at: https://dwd.wisconsin.gov/er/labor_standards/child_labor_laws.htm
• While the equipment list provided by the DWD is helpful, there is additional training that needs to be provided with each of the tasks or tools that minors will be using. Per OSHA, this training needs to be documented.
• Cell phone policies are becoming increasingly important. From cell phone use while driving, to having social media accessible at employees’ fingertips, it’s important to outline the Dos and Don’ts.
  • Do phones need to be put away while driving?
  • When are phones allowed on the jobsite?
  • Can pictures with company logos be shared on social media?

R&R Insurance has numerous resources to help your organization attract, train, and attain young talent. To learn more, contact a Knowledge Broker.

To celebrate ladder safety month, now is the time to 1) review your ladder safety program, 2) conduct ladder safety training, and 3) test your ladder safety knowledge. The following outline provides an overview of using ladders properly.

Climbing Position

• Climb a ladder by holding on to the rails and not the steps.
• Climb facing the ladder with your body centered between the rails.
• Use three points of contact, with at least three extremities attached to the ladder at all times.
• Do not twist your body while climbing.

Lifting Items

• Do not climb with hands full of gear.
• Put any materials you need to take up a ladder into a tool bag/belt that you wear on your person.
• Use hand lines, hoists, or manlifts to lift and lower heavy objects.

Protective Gear

• Fall protection must be worn based on the hazard assessment if you are working on scaffolding or on the roof of the building.
• Footwear with good support, non-slip soles, and free of mud, oil, and any other slippery debris is required when working on a ladder.
• Safety glasses or hardhats may be required for overhead work.

Stepladder Guidelines

• Never stand on the top two steps.
• Fully open step ladders. Never use a stepladder in a partially-closed position.
• Ladders must have a spreader or locking device. Open and lock cross spreaders.
• Stepladders must not exceed 20 feet in height.

Other Guidelines

• Do not use ladders as a work platform.
• Keep the area around the bottom and top of the ladder free of debris.
• Allow only one person on a ladder at a time.
• Do not move or extend the ladder while occupied (i.e., no ladder jumping).
• Check the ladder for damage and defects before use. If damaged or defective, immediately remove the ladder from service and get rid of it.
• Get help when moving large ladders or working on uneven terrain.

For additional informtion, the American Ladder Institute (ALI) provides no cost ladder safety training for the workplace that aligns with OSHA's general industry ladder requirements. Click here to learn more about their program.

For the 2nd year in a row, R&R Insurance has been ranked the "Top Bonding and Insurance Firm" by The Daily Reporter readers! 

Annually, The Daily Reporter has surveyed it's readers on number of questions related to Commercial construction categories (best abatement, best material supplier, best scaffolding company, etc.) as well as general business questions.  Participants wrote in company names for their top votes. 

Thank you to everyone who took the time to vote!

With the help of experienced professionals, we’ve developed a list of tips to help your organization avoid fraud activity (such as forged checks or stolen cards) and business email compromise.

Payments & Checks

• Convert all paper based payments to electronic. Checks contain a company’s entire banking identity, so the more they can be avoided, the better.
• Keep checks in a locked drawer that only specific employees have access to.
  • If using signature stamps, keep these in a locked drawer as well - but separate from any checks.
• Monitor check orders and limit those who handle the checks.
• Review and update the signature cards at your bank annually (at a minimum).
• Never pre-sign checks – under any circumstance.
• Implement ACH filters and Positive Pay.
• Use dual authorization for ACH and wire transactions.
• Review transactions before they’re sent to the bank.

IT Systems

• Work with your IT department or vendor to ensure safeguards are in place.
• Flag all outside emails as “external.”
• Be aware of fraudulent emails (typos, poor grammar, inconsistencies in email addresses, etc.).
• Change passwords frequently and don’t have your internet browser “save passwords.”

Employee Processes

• Provide education to employees on fraud and fraud prevention.
• Have a social media policy in place to limit what is being used in the workplace and while connected to the company’s wi-fi network.
• Have a process in place for when employee involved with Accounting leave the organization.
  • Alert your bank of employees who’ve left that had banking responsibilities.
  • Change passwords that previous employees had access to.

For more information about having the right insurance in place to properly protect your business, contact a KnowledgeBroker at R&R Insurance or take the free cyber risk calculator below.

Sources:
Westbury Bank
Association for Financial Professionals
BVS Performance Solutions
JP Morgan Chase

A consistent challenge for majority of businesses is how to effectively attract and retain employees. With millennials making up the majority of the workforce, businesses must alter their tactics in order to stay ahead.

Like years before it, 2018 was no exception to the rising increases of health insurance coverage.  Since 2017, single coverage insurance premiums have increased by 3% while family coverage has increased by 5%. Nowadays, employees get their pick of affordable health care coverage options that best suit their lifestyle. That being said, employers must be able to differentiate themselves if they want to attract and secure talented employees.

A successful tactic for retaining employees is taking a look at the needs of the employee and stacking them against financial realities. The outcome of this is to offer meaningful benefits and cover majority of their costs.

Meaningful Benefits: Benefits employees actually want and will use.

Securing Talent

Turnover is a reality that all businesses have to cope with. But poor retention is something you can change. To do this you have to know and have these three things:

• Know the reasons behind why employees have decided to part from your company

• Data: have analytics and information for why people leave as well as why people are staying

• Analyze: be able to put all of the information gathered so you can implement effective tactics and change the future outcome

Amongst the information gathered, you want to design strategies that will better your goal of securing talent. Look for patterns and brainstorm ways that you can break that particular trend (ex. Why people are leaving?).

Understanding the Millennial Mindset

As mentioned earlier, millennials are flooding today’s workforce. This makes them the prime target for your attracting efforts. Medical, dental and vision insurance alone are not going to have millennials flocking to your company. So how do you start from here? You need to understand the mindset of a millennial. They put choice and affordability at the top of their list. The main goal in all of this is to enhance lives by reducing financial burdens.