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Financial Impact

Survey Notes Few Firms Plan to Drop Coverage After Health Reform

November 9, 2010
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Employers who terminate plans will face an annual $2,000 penalty for each employee working at least 30 hours a week. With annual health insurance costs averaging about $9,000 per employee, the savings would dwarf the penalties paid.
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Staffing Firm Volt Target of SEC Probe

November 9, 2010
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Volt is presently in the process of restating financial statements because of errors that affected the timing of recognition of revenue.
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Push for High-Deductible, HSA Plans Gain During Benefit-Enrollment Season

November 5, 2010
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Since HSAs were signed into law in 2003, small-business owners have been driving the increase. Yet experts say large employers comprise the fastest-growing market for these accounts.
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Illinois CFOs Mull Cutting Health Benefits, Survey Says

November 4, 2010
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Employees in the state could be earning more than their national counterparts, according to a Grant Thornton survey. Thirty-four percent of Illinois survey participants said they would raise salaries compared with 21 percent nationally.
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North Carolina Workers' Comp Loss Costs to Increase 0.6 Percent

October 28, 2010
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The state’s rate bureau had requested an average increase of 1.2 percent in loss costs.
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Wide Pay Gap Persists Among Doctors

October 28, 2010
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A national study, conducted by researchers at the University of California at Davis, compared wages of more than 6,300 physicians practicing in 41 specialties in 60 communities in 2004 and 2005.
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Ford Revs Up Pension Plans with $100 Million Contribution

October 27, 2010
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Later this week, Ford will use cash to pay off the remaining $3.6 billion of debt it owes to the $45 billion UAW Retiree Medical Benefit Trust.
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Lodging per Diem Rates Fall in Many Locales

October 26, 2010
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In the past few years, per diem rates typically increased, but with the rates going down this year, it could catch some firms off guard.
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FedEx to Pay $2.3 Million Over Independent Contractors

October 21, 2010
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The settlement follows a yearlong investigation by Montana that found FedEx Ground drivers are employees, not independent contractors, and that FedEx owed unemployment taxes, penalties and interest, according to the attorney general’s office.
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Aon to Cut at Least 1,500 Positions as Part of Hewitt Integration

October 14, 2010
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While Aon Consulting and Hewitt in 2009 each generated just over $1 billion in consulting revenue, Hewitt’s $2 billion in outsourcing revenues were about 10 times that of Aon Consulting.
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