Call us at 952-445-5767

Text us at 612-814-8960
 

Regulatory Issues That Impact Every Business

May 16, 2016


The regulatory climate is always changing for businesses.  Almost every month there is some new laws, regulations, or statutes that your business now must comply with. We want to share a few of the latest regulatory trends to help with your business insurance planning.


 

1. The Department of Labor (DOL) is cracking down on employers who misclassify independent contractors who really should be employees. If you are an employer who hires contractors, the DOL has issued new guidelines to help you.

 

2.  Defense of Marriage Act (DOMA). The federal definition of marriage has changed and employers must modify health insurance and benefits packages to comply with the law.

 

3.  Healthcare is still an important issue for businesses. Open enrollment starts November 2016. Employers with more than 50 employees must offer full time employees an employer sponsored plan.

 

4.  The Occupational Safety and Health Administration (OSHA) has published a Guide to Restroom Access for Transgender Workers. OSHA's Sanitation standard requires that all employers under its jurisdiction provide employees with sanitary and available toilet facilities, so that employees will not suffer the adverse health effects that can result if toilets are not available when employees need them.Source OSHA

 

5.  The new workers’ compensation coding system went into effect 10.1.15. All businesses covered under the Health Insurance Portability and Accountability Act (HIPAA) will be required to use the International Classification Coding Systems (ICD-10) to report injuries and illnesses to the Centers for Medicare & Medicaid Services (CMS).

 

6.  Whistleblower investigations are on the rise. The SEC’s whistleblower program continues to have an impact on businesses. The single biggest issue has been “Corporate Disclosure and Financials,” which accounted for 18.2% of all submissions.

 

7.  In response to immigration reform, employers will need to monitor changes to the immigration system that may impact their hiring; particularly Form I-9 procedures and work authorization documentation. 


Innovative Insurance Services LLC provides insurance to businesses in Shakopee, Savage, Prior Lake, Bloomington, Eden Prairie, Burnsville, and surrounding areas. At Innovative Insurance Services LLC, we’re committed to keeping your business protected – so you can focus on your day-to-day operations. And with the right insurance plan, your business will be covered from top to bottom.

*Main Office - Shakopee

8001 Old Carriage Ct N, Ste B

Shakopee, MN 55379

Main office: 952-445-5767
Fax: 952-445-2182

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 5:00 PM
Sat: 9:00 AM - 12:00 PM
Sun: After Hours by Appt.

Litchfield Office

201 S Sibley Ave

Litchfield, MN 55355

Main office: 952-445-5767
Fax: 952-445-2182

Office Hours:

Mon: 8:30 AM - 5:00 PM
Tues: 8:30 AM - 5:00 PM
Wed: 8:30 AM - 5:00 PM
Thurs: 8:30 AM - 5:00 PM
Fri: 8:30 AM - 5:00 PM
Sat: Closed
Sun: Closed

Our Providers

Testimonials

Accommodating, professional, helpful, and quick. Very comfortable experience and I was impressed by their capabilities. Highly recommended.
Brad M.
I feel lucky to have found an agent willing to provide this level of service. No need to look anywhere else!
Michelle D.
Over the years we’ve never once had to worry about our coverage. My husband and I are long-time customers and proud to be.
Carol S.
Surprisingly flexible and in-touch with my needs as a small business owner. Can’t ask for more.
Spencer F.
They have strong ties with the community, and it shows. It’s nice to do business with people that really show they care about you and your family.
Susan T.