FOR BREAKING NEWS VISIT WWW.QNS.COM SEPTEMBER 14, 2017 • QUEENS BUSINESS • THE QUEENS COURIER 35
Employers: It’s time to prepare for NY Paid Family Leave,
the threat of cyber attacks and employee benefits program renewals.
Paid Family Leave
As previously mentioned, Governor Cuomo passed the NYS Paid Family Leave (PFL) Law which takes effect on Jan. 1, 2018. PFL will provide employees
with job-protected paid leave to bond with a new child or care for a close family member. For 2018, PFL will pay 50% of an employee’s weekly
wages to a maximum of $652.96 per week up to 8 weeks. The benefits for PFL will increase each year until 2021. PFL is intended to be entirely
employee-funded through a payroll deduction that was just up by the NYS Department of Finance. In preparation, employers should:
• PFL tracking system in place
• Deductions from the employees, they should be post tax
• Update employee handbooks
• Create a staffing plan to avoid a workload gap
Renewal of your Employee Benefits Program
Large groups: Waiting until the last minute is harmful to your negotiations and analysis of your benefit package choices, and can also be costly.
Small groups: Waiting until the last minute for renewal information, quotes, policy options, and other delays such as enrollment materials and ID
cards can be overwhelming and costly.
Here is a checklist:
• Start your renewal process at least 4 months prior to your renewal date.
• Contact your benefits consultant to start compiling the choices available to you.
• Gather the necessary data to move ahead such as employee census, current carrier invoice, and benefit summary.
Does your business need Cyber Liability Security?
Cyber liability has become a threat to businesses of ALL sizes. Large or small businesses collecting personal identification such as names, date of
birth, SSN, addresses, credit card and driver’s license numbers are at risk. Most small to medium sized businesses (SMB) believe they are not. If your
company uses personal data then it is subject to attack! Some recent statistics regarding the type of hacked information:
• PII (personally identifiable information – date of birth, social security, addresses etc. - 41% of data exposed
• PHI (private health information) was second 21%
• PCI (payment card information) 19%
Is Cyber Liability Insurance in place to offset the costs when there is a breach? Recent statistics show the average claim payout was $733,209, the
average cost per record was $956.21, and the average cost of crisis service was $366,484, not to mention the cost of defense! How many companies
can pay that?!
We’re here to guide you through this process – every step of the way! Please contact us.
Your trusted Team Leaders:
Sher Sparano David Capo
Josephine Bottitta Sarah Clarke
For more information Email: SSparano@OneGroup.com Or call 718-897-3903