The 24 general managers who keep Toppers Pizza’s corporate restaurants up and running work about 50 hours a week, sometimes more if an hourly worker calls in sick or quits suddenly. The managers receive a guaranteed salary plus bonuses and are exempt from overtime pay.
However, by December, their positions will most likely be reclassified as hourly nonexempt, or perhaps salaried nonexempt, to comply with the new federal overtime regulation.
To learn more about the latest voluntary trends, Employee Benefit News sat down with Jeff Smith, assistant vice president in Unum’s National Client Group, which recently expanded its own lineup of voluntary offerings.
Insurers are in the process of filing proposed premiums for ACA-compliant nongroup plans that will be available inside and outside of Marketplaces in 2017.
Recent reports by insurers about their experiences during the first two years under the ACA suggest that some assumed that enrollees would be healthier than they turned out to be and set their premiums too low, leading in some cases to significant financial losses for ACA-compliant plans and an expectation that premiums could rise faster in 2017. Some insurers took relatively large premium increases for 2016 to better match premium levels with the costs of their enrollees — which would help to offset the need for 2017 premium increases — but it is too soon to know if these efforts were generally successful or whether losses have continued into 2016. At the same time, some insurers have had better experiences and may be able to sustain current pricing, while new product offerings and new competitors may offer opportunities for consumers who are willing to shop around to find reasonably priced plans in 2017. This still is a new market, with insurers still finding their way, and as with 2016, it is likely that we will see a wide range of requests for rate changes and new product approvals across insurers and geographic areas.