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Frame-maker lawsuit hurts your employees the most.

If your company offers Vision Service Plan (VSP), the largest vision carrier in the U.S., then their options are limited when going to purchase eyeglasses. In a 1998 incident, Altair Eyewear, Inc. (owned by VSP)allegedly copied a clip-on frame technology owned by Aspex Eyewear during discussions about licensing the technology for its own product line. In 2002, Aspex filed a lawsuit against Altair for patent infringement. The lawsuit continues to this day. Eight years later, in 2010, VSP (the carrier) distributed a bulletin to doctors and staff, “Despite warnings that failure to find an alternative method of resolution could cause VSP to re-evaluate its business relationship with Aspex, Aspex remains in litigation with VSP and its affiliates. Following the bulletin, VSP stopped offering “in-network” coverage for frames manufactured or distributed by Aspex (the company suing Altair for infringement). Excluding a specific brand of eyewear from coverage is a very unusual move for an insuranc ...

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Payroll Tampa, FL – Top Payroll Company Misconceptions

Here's a few misconceptions business owners have about payroll services. “I should save money and do payroll in house.” Nope – Here’s why: “Boot-strapping” is a very popular way to run new businesses in Tampa, FL, but boot-strapping your payroll run is probably more expensive than outsourcing it. Having full time staff involves offices space, office equipment, a salary, employee benefits costs, and the cost to replace and train an employee for when the payroll person moves on to another company. “Doing payroll in-house makes it a more reliable process than if I depended on a Tampa payroll company.” Nope – Here’s why: Internal payroll employees can get sick, have vacation time to use and occasional leave the company with two weeks notice. In addition, outsources will have multiple people doing the same job and will have better software and computer hardware in place. This adds measures of redundancy that is used to eliminate things th ...

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Selecting the appropriate medication could save Workers’ Comp Expenses

Recent research attempted to calculate industry savings that could be found by replacing more exotic long-acting pain killing narcotics ones that contain morphine, with the continued goal of maintaining proper pain management for the patient. 402,000 cases of injured workers who had filled at least one narcotic prescription from 2002-2010 were examined by Express Scripts, Inc. By comparing what narcotics were prescribed, they found frequent us of the more expensive long-acting pain management drugs like oxymorphone or oxycodone, rather than lower-cost long-acting morphine-containing drugs. These long-acting drugs are designed to address chronic pain over time. Many experts believe that rather than going right to the long-acting drugs, patients should be prescribed lower cost short-acting narcotics containing oxycodone/acetaminophen or hydrocodone/acetaminophen. With proper monitoring of pain, a later switch to long-acting drugs may be appropriate. If a switch to long-acting pain killers is necessitated, th ...

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Educating staff about retirement options seen as key to increasing enrollment

Recently, the American Society of Pension Professionals and Actuaries’ 401(k) Summit was held in New Orleans. At the event, the role of retirement plan sponsors and vendors was emphasized as valuable resources to help employees create a retirement financial situation that meets their estimated needs. With recent data out highlighting retirement confidence, the market is huge for services and products that help employees understand their current financial standing and what they need to do to prepare for retirement. There is a big need for understanding what is needed for retirement and the financial options available. Experts a the event emphasized that increasing participant understanding and plan automation are two of the most important next steps for helping get employees on track for their future. As a business owner, it’s important for you to understand how your employees feel about their retirement plans and options available through your company. A survey can be a great way to gather inf ...

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Struggling American Airlines comes up with their pension solution proposal

Parent company of American Airlines, AMR Corp, recently proposed an alternative to its earlier plan to terminate the American Airlines employee pension plan, leaving participants to the fate of government insurers. This would have the effect of lower payments than originally dictated by the pension plan. Instead, AMR Corp has recently proposed to freeze pensions covering many of its workers. This would avoid becoming the largest pension default in U.S. history. It could also help American Airlines cut a deal with its unionized work groups to help address high labor costs. AMR had been the only major airline to avoid filing for bankruptcy in the last ten years. It’s the only one that still has a traditional pension plan. The freezing of the plan, as per company statements, would mean that employees would retain the full value of benefits accrued for service prior to the date the plan is frozen. This action would mean the company will retain larger pension costs than was considers in their business pl ...

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