GMR Associates, Inc.

10 Business Resolutions for 2012

2012-02-22T15:14:00.000-05:00

What better way to start the year than with a list of resolutions that can help your Business grow and prosper in the New Year. Here’s wishing you a Happy and Productive New Year 2012!

#1 Prioritize

“Start every day with strategic clarity by spending 10 minutes reviewing what one-to-five things you want to achieve this year, what your strategic priorities are for achieving them, and (most importantly) what businesses, activities and opportunities you have decided to say “no” to because they distract you from what is truly important.” – Kaihan Krippendorff, author

#2 Focus on Less

When it comes to focusing your attention, energy and business resources, less is certainly more.

#3 Watch your Cash Flow

Effective cash-flow management is essential to the growth of all businesses. Simplify your accounting process; choose an accounting solution that helps you stay on top of your finances. And start making financially informed decisions today!

#4 Sell More

Adopt new selling ideas/styles that take you out of your comfort zone in order to reach out to new prospects.

#5 Optimize Time

The time and energy you (and your team members) spend on your Business projects is perhaps your most valuable resource. Make the most of this resource, by using time-tracking tools to track the time spent on your projects.

#6 Streamline your Support Process

Great support means repeat business. And that’s reason enough to streamline your Customer Support. Customers now look forward to proactive and participative support.

#7 Get Paid Faster

An automated invoicing process can help track time and expenses while you focus on other aspects of your business. Work with an invoicing tool that comes with additional features such as reports, mobile accessibility and integrated online payment capability.

#8 Go Social

Social media is more than just an extension of business ethics. Your customers are out there, having conversations about your Business (or your competitors). It’s all up to you to be a part of those conversations, engage your customers and prospects provide support and share content that matters to them.

#9 Don’t be afraid to talk Pricing

The price of products and / services that your Business offers is probably not the main decision-making factor for your prospective clients. But, it certainly is important.

#10 Stay on top of your numbers

In order to make informed Business decisions, it is critical to keep an eye on your Business reports. An online reporting and Business Intelligence tool can make it easy for you visualize and analyze your Business data.

All the best with your resolutions!

Employers in a Credit Reduction State

2011-12-27T11:43:00.002-05:00

The IRS has released its list for “reduction states” for 2011. Generally, employers who pay their state unemployment tax by the due date for filing Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, receive a credit 5.4% against their Federal Unemployment Tax Act (FUTA) tax

According to the IRS there are 20 states and Virgin Islands that have defaulted on paying the federal government back the funds they borrowed to help pay their unemployment benefits.

Under Title XII of the Social Security Act, states can borrow funds from the federal government to pay unemployment benefits. If a state defaults on its repayment of the loan, the amount of state unemployment tax credits that employers in the state may claim on Form 940 is reduced (i.e., the state is a "credit reduction" state). Employers in credit reduction states pay federal unemployment tax (FUTA) at a 0.3% rate higher than other employers, beginning with the second consecutive January 1 in which the loan isn't repaid. For each succeeding year in which there is a balance, the credit is further reduced by an additional 0.3%.

The 2011 version of Schedule A lists the following states (and the Virgin Islands) as 0.3% credit reduction states: Arkansas, California, Connecticut, Florida, Georgia, Illinois, Kentucky, Minnesota, Missouri, North Carolina, New Jersey, Nevada, New York, Ohio, Pennsylvania, Rhode Island, Virginia, the Virgin Islands, and Wisconsin.

Michigan employers will be subject to a 0.9% credit reduction, because of Michigan's failure to repay its outstanding federal loans for four consecutive years.

Indiana employers will be subject to a 0.6% credit reduction, because of Indiana's failure to repay its outstanding federal loans for three consecutive years.

States	Reduction Rate
Arkansas	.003
California	.003
Connecticut	.003
Florida	.003
Georgia	.003
Illinois	.003
Indiana	.006
Kentucky	.003
Michigan	.009
Minnesota	.003
Missouri	.003
Nevada	.003
New Jersey	.003
New York	.003
North Carolina	.003
Ohio	.003
Pennsylvania	.003
Rhode Island	.003
Virginia	.003
Virgin Islands	.003
Wisconsin	.003

Employers in credit reduction states do not have to make a federal unemployment tax deposit for the increase in their FUTA rate until the fourth quarter deposit due on Jan. 31, 2012.

At year end you or your payroll provider will have to recalculate your FUI taxes depending on what state you are doing business in. This calculation cannot be completed until your last payroll for the year has been processed.

Click here for the Form 940 Schedule A

Resources:

http://www.abc.org/Newsroom2/News_Letters/2011/Issue_50/Employers_in_credit_reduction_states_must_adjust_unemployment_tax_liability.aspx

https://www.visionpayroll.com/kb/2011/11/question-of-the-week-what-are-

the-credit-reduction-states-for-2011/

Spreading The Holiday Spirit

2011-12-22T11:53:00.000-05:00

The GMR team of bell ringers braved a cold morning on Saturday to raise money for the Salvation Army’s benevolence programs. Some of GMR’s employees and family members oversaw kettles at both the north and south entrance doors of Macy’s in Marketplace Mall.

There was a steady stream of contributors to the kettles; although we didn't notice any gold coins going in the slot you never know. As a part of GMR’s ongoing community involvement we hope to brighten the Holiday Season for those in need. Thanks to all who participated in this campaign to help others in need!

To all of us, when we see a volunteer by a kettle this Christmas season, let’s be generous to the extent we are able in donating what we can even if it’s only some loose change. Every penny helps. It sometimes seems easier to avoid them, but even just a smile and “Merry Christmas” goes a long way.

The team at GMR hopes to wish you all a very Merry Christmas and Happy New Year!

Fully-Insured vs. Self-Insured Health Plans

2011-12-08T16:10:00.001-05:00

Can’t decide whether to choose a fully-insured healthcare plan or try self-funding it? This is a tricky decision that many employers are contemplating this open enrollment season. Depending on your company either option can be a viable one. There are risks with either plan type that need to be thoroughly looked at before making a decision to switch from one to the other.

For some groups the option to self-insure may be the best way to go. The employer (plan sponsor) has a little more stake in the game, but could see a great savings when all is said and done. The employer will pay all healthcare costs directly plus administrative costs in lieu of paying premiums to an insurance company. Employers also need to setup stop loss coverage that will kick in once an employee reaches a certain level of coverage. This will limit the amount the employer is responsible to pay out. They will also have to pay premiums on the stop loss insurance. These are all options a company must weigh when making the decision to switch.

Fully-insured plans may be a good choice for groups who don’t want to deal with certain compliance issues involved with self-funding. Fully-insured plans allow the employer to simply pay a premium on each employee. This is the only cost concern the employer will likely have. These plans tend to see yearly premium increases depending on usage and group size.

There are also options to partially self-fund using a high deductible health plan with a health reimbursement account (HRA) or health saving account (H.S.A). These types of plans give the employer premium savings by putting more responsibility on the employee with a higher deductible. By funding an HRA or using an H.S.A employers can control, to some extent, the costs of plan sponsorship.

There are many reasons companies decide to move from a fully-insured plan to a self-funded plan. Most of the time, they are able to switch because of the size of their workforce. These plans work best for larger companies with healthier employees. It is important to look into claims history of the group to determine which type of plan works best for your company. It is also advised to consult with your healthcare broker before making any changes to your current plan.

MVP, Excellus & 9 Other Insurers Forced to Return $114.5 Million in Premium Overcharges

2011-11-11T14:50:00.000-05:00

New York Governor Andrew Cuomo has pushed insurers to refund over $114 Million in overcharged health insurance premiums. Among the insurers issuing refunds are the two biggest in the Rochester area, Excellus and MVP. Across the Empire State 11 insurers must give back a portion of the premiums charged in 2010.

State officials are requiring the insurers to make refunds after realizing companies failed to meet the rules set last year stating that 82 cents of each premium dollar must be spent on medical claims. Any overpayment must be sent directly back to the subscriber.

The largest overpayment was made to Empire Blue Cross Blue Shield, who is set to refund $61.1 million to its customers. Excellus must pay back over $21 million and MVP is to pay back $1.3 million. Some companies have already made their refunds and the rest should be out by early December.

Some believe the refunds are too late for many who were forced to drop their coverage and go without healthcare because of unaffordable premiums. Nevertheless, any groups who overpaid on their premiums should expect a check in the mail soon.

NYS Required Termination Letters??

2011-10-26T11:22:00.000-04:00

Before 4/9/2011, NY State Labor Law Section 195.6. was known as 195.1. The first 5 subdivisions became effective on 4/9/2011 and are better known as the “Wage Theft Prevention Act.” They pushed subsection 1 down to 6^th place. Many NY employers are not in compliance with subsection 6 for one of two reasons, either they don’t know about this subsection or assume that a COBRA letter will cover their requirements under subsection 6. COBRA letters DO NOT ensure compliance with NYS Labor Code Section 195.6. NYS Labor Code Section 195.6 requires employers to notify terminated employees of their termination from employment date as well as the exact date of employee benefits connected with this termination from employment date. The term “termination from employment date” includes layoff’s, seasonal or otherwise.

Community Event Turns into Tail Wagging Good Time

2011-10-21T16:11:00.001-04:00

On September 24^th, 2011; GMR Associates, Inc. was just one of many companies that participated in Barktober Fest at Lollypop Farm. We had several employees participate with their families (furry family included).

The official Barktober Fest website indicated that the event raised $122,600 through registrations for the event, participants gathering pledges, corporate sponsorship, and festival activities—all to support Lollypop Farm, the Humane Society of Greater Rochester.

There were an estimated 2,500 in attendance during the day, Barktober Fest hosted over 200 runners in the 5-mile race, 450 walkers, and too many of our four-legged friends to count! In addition to the race and walk, the day-long festival included dog competitions, vendor booths, kids activities, food, demonstrations, our popular Animal Contests, and more!

ABC Explorer Post: Exploring the Skilled Trades

2011-09-26T12:09:00.005-04:00

The Associated Builders and Contractors of New York (ABC), in collaboration with the Exploring Division of the Seneca Waterways Council are putting together a unique opportunity for High School juniors and seniors to see their options after graduation. By demonstrating the tricks of the trades, the ABC hopes to give students the opportunity to participate in hands-on projects with successful businesses in the Rochester Area.

Let the exploration begin! Students will be introduced to a number of trades including; masonry, electrical, carpentry, HVAC, plumbing, drywall installation and project management. They will have the chance to work directly with business owners, showing them a day in the life of each profession. We hope to open up the minds of these young adults while showcasing the many rewarding careers in the trades.

Help us build our future workforce, with more and more young people choosing college and, business careers after high school there expanding opportunities for long-term careers in the skilled trades. For more information about the Explorer Post please contact post advisor Sean Philbin at (585) 241-8543 or by email at shawn.philbin@senecawaterways.org . This program starts October 4^th, So don’t hesitate, sign up today!!!

Post Advisors:

Roger L. Gutheil- GMR Associates, Inc.

Russell C. Vent- GMR Associates, Inc.

Sue Vito- E.S Systems

Jerry McEvily- E.S Systems

Featured Contractors:

F.G Rayburn

E.S Systems

Villager Construction

Isaac Heating and Cooling

Gypsum Systems Interiors

9-11 Remembered

2011-09-13T16:29:00.003-04:00

Our country has seen many tragedies throughout the years; however none have carried such weight as what happened on September 11, 2001. Most of us can remember exactly where we were on that day, probably even what we were doing when we first heard a plane hit the World Trade Center.

Ten years later our country celebrated our strength and courage to rebuild, as well as remembered all those who lost their lives on that heartbreaking day. Many things have changed in the past ten years from the way in which the government is being run, all the way down to the way in which we live our lives, day to day. However, we must continue to honor those who lost their lives in New York, Washington and Pennsylvania a decade ago by living our lives to the fullest and always remembering what happened that Tuesday morning.

We at GMR would like to thank those who are currently active in the military and those who have fought for our country in the past. We must make it part of our everyday lives to never forget what happened that fateful day a decade ago.

Health Care Reform

2011-09-09T15:24:00.002-04:00

The Patient Protection and Affordable Care Act was signed into law on March 23, 2010 by President Obama. Generally referred to as PPACA, the law increases access to health insurance coverage, expands federal private health insurance market requirements, and requires the creation of health insurance exchanges to provide individuals and small employers with access to insurance.

There have already been multiple amendments made to health care coverage and its administration. Dependent care has been extended to age 26 for all individual and group policies as well as several modifications for Medicare and Medicaid coverage. Even with the changes that have already happened there are many more on the horizon.

The next few years will bring about changes such as providing new “uniform” benefit summaries, placing a $2,500 cap on Flexible Spending Accounts. 2014 will bring about the most crucial changes such as all United States citizens will be required to have health insurance. Penalties will be placed on those who decide not to have coverage. Tax penalties will be placed on employers who do not provide “affordable” health coverage or insurance to their employees.

Many believe this will solve all of our health care problems by creating a uniform health care system, however, the other half believe that this is just one step closer to Socialism. The outcome of numerous lawsuits [brought on by 28 US states], could likely strike this bill down, but until then, we have to educate ourselves about PPACA, and learn the best way to strategize and, work within its brick walls and barbed wire.

Hut, Hut, Hike!! : Quarterback Your Healthcare Costs

2011-09-08T11:44:00.001-04:00

It’s that time of the year again, so, employers, dig into your pockets and get ready to pay more for health insurance. If you go idle, and just renew your old plan you could be costing your company big money.

Recent rate info from the two largest insurers in the Rochester Region, MVP and Excellus, show increases ranging from 9 to 20%. (They take into account higher hospital & physician usage, increased prescriptions, and higher medical costs, all of which increase medical premiums year after year.) RBJ Article

There is a way to beat the increases; Shop you health insurance against every carrier. By getting all of the information, you can then make the best decision for your company and your employees. One year a carrier may be on the high end, and the next they may have the lowest premiums. For this reason, you should do a market shop every year to ensure greatest value for your health care needs.

Hit the Gym America!!!

2011-08-30T15:46:00.003-04:00

Are you concerned about that spare tire or those pesky love handles?

Studies show you and your boss should be. A new report shows that a majority [38] of the states in the US have obesity rates over 25%. Twenty years ago, there was not a single state at even 20% obesity. As alarming as these numbers are, imagine what they will be in another twenty years if we don’t change our habits and get our country in shape (other than round).

Employers should be concerned about how this is affecting their productivity. Overweight employees are more likely to call in sick; lack motivation and productivity, not to mention incur higher healthcare costs. There are many ways to fight obesity and get your workforce on the right track.

Take baby steps, you don’t need to start off running marathons; you can simply start walking a mile a day. This will at least get you moving and get your heart pumping. Once this becomes easier, amp it up, hit the gym and don’t be afraid to sweat. It’s good for you, and your bottom line.

Employers can urge their people to work out, eat healthy, and get fit. Many employers use wellness programs that give employees incentive to reach certain goals and maintain healthy lifestyles. So put down that remote, get outside, and have some fun getting back into a shape!!!

Pet Insurance: No Longer Something to Wag Your Tail At.

2011-08-02T16:26:00.000-04:00

As Veterinary Costs continue to rise, many are turning to Pet Insurance to help lessen the financial blow. Families have become more attached to their pets than ever before and are even willing to incur major financial loss in order to help their furry companions in times of need.

Many pet owners find great value, and peace of mind knowing they have coverage in case their pets get sick or are involved in an accident. Some plans even allow for coverage on preventative exams, shots and vet visits. These plans range in price and coverage and can be set up as a payroll deductible voluntary benefit through an employer.

As the employer, it is a cost effective way to keep your employees happy and their pets safe. For certain pet crazy people, the employer showing interest in their pets is almost as important as offering healthcare for their family.

Welcome!

2011-06-29T15:19:00.001-04:00

Welcome to the official blog of GMR Associates, Inc. We are a Rochester, NY based company specializing in the design, placement, and administration of quality benefit programs and human resource solutions for a broad spectrum of employers. In developing a social media platform including this blog, our new Facebook page, and a redesigned website, our goal is to reach out and connect with our existing clients, employers seeking outsourcing solutions, and the personnel who benefit from our services. Our staff will be using their extensive knowledge of third party administration and human resources to offer you articles and posts concerning a wide variety of topics related to the industry. With the blog specifically, we aim to educate and inform, offering advice and opinions on the challenges we’ve faced as a company, the issues facing small business in general, and the overall fast-paced environment of the business world. We hope to build an even more intimate relationship with our clients, and keep you all up to date on what GMR has been up to and how we’ve been dealing with the adversity of an constantly changing industry.