General News

Arcwood President & CEO, Peter Rowe, along with Diana Durham, President of Arcwood HR, detail how the latest federal vaccine mandates and OSHA regulations are likely to impact employers around the country.

0:05:57 – Background on the Path Out of the Pandemic Action Plan from President Joe Biden.

0:07:53 – “Vaccinating the Unvaccinated” – this portion of the Biden plan includes the specific employees and contractors that will require vaccination prior to January 18, 2022. This also includes masking and distancing requirements if the employees are in higher transmission rates.

0:10:43 – Centers for Medicare and Medicaid Services (CMS) guidance for providers or those who offer CMS services

0:12:59 – OSHA ETS enforcement of the federal vaccine mandate for employers and COVID testing guidelines for non-vaccinated employees – introduces the 100+ employee rule, weekly testing requirements for non-vaccinated employees, paid sick leave for vaccination and recovery, masking requirements, reporting and record keeping.

0:20:51 – Policies and processes employers must have ready prior December 4, 2021.

0:22:08 – Vaccination status documentation

0:26:15 – Testing for non-vaccinated employees

0:35:43 – Face covering requirement for non-vaccinated employees

0:39:04 – Paid time off for getting vaccinated (and potential side effects)

0:44:27 – Employee notifications

0:56:13 – OSHA Reporting & Records

1:01:47 – Resources – vaccination policy models / templates for employers, third-party support, CDC guides

January 4, 2022, OSHA ETS vaccination enforcement begins.

This video is for informational purposes only, and should not be considered direct “advice.” For consultation and advice in your particular situation, contact info@arcwood.com.

An often-unrecognized bad spending and savings habit comes in the form of something called “Lifestyle Inflation” or “Lifestyle Creep”.

When many people get increases to their income (even by a small amount), we see that spending—not saving—increases at a similar rate. This means each time a promotion, raise, or job change occurs, many people fall victim to spending more on certain everyday items like groceries or self-care. For others, it means turning luxury items into everyday necessities.

Though earning more is something to celebrate, lifestyle inflation can steal the additional financial stability and wellness these milestones should have provided. Instead of using that extra money toward paying down debt, saving more for a large goal, or investing for our future selves, money is put toward more fleeting items.

The first step toward fighting off lifestyle inflation is to recognize it. From there, focusing on a few of our core financial practices can help minimize the potential damage that can come from lifestyle inflation.

Prioritize Budgeting
Regardless of how much you make, be it $50,000 or $500,000, budgeting is the only way to know how much you must spend and how much you have available to save. This one financial planning staple lays the groundwork for understanding your financial life on a deeper level.

Needs vs. Wants
That fuzzy line that can sometimes make it difficult to separate “needs” from “wants” is another culprit in the fight against lifestyle creep. We all have basic living expenses to cover each month—rent or mortgage, utilities, a phone bill, food, and debts, to name a few. However, extras like more weekend getaways or new outfits, can start to slip into the “needs” categories when income increases.

Automatic Savings
Use this simple but powerful tool to avoid lifestyle inflation anytime income increases. Calculate how much extra you can expect from your bi-weekly or monthly wages and set that to go into savings every check through automatic withdrawals or payroll deductions.

Forget the Joneses
Lifestyle inflation can be hard to avoid if you’re constantly comparing your financial life to others. Remember, you can’t know for sure what someone else’s savings looks like. Maybe they saved for several years to afford that big purchase. Maybe they are deep in debt because of it. Don’t let comparison be the pitfall to your financial stability.

Reevaluate
Finally, be sure to review your budget and financial goals periodically. Most experts suggest checking in with your overall finances once per year or sitting down to review the numbers anytime an increase in income takes place.

Final Thought
Though not always fun at first, following these steps consistently can help put you on a financially healthy path for the future. Eventually, the sense of security you have from knowing how much you must spend and seeing your savings increase or debt go down you will start to receive better types of endorphins than you ever received from a new blouse.

Brandon Oliver with Arcwood reviews and demonstrate some of the features, tools and content available in the new Enrich online financial wellness tool. “

For more information, contact Brandon Oliver (brandon@arcwood.com).

Peter Rowe, President & CEO of Arcwood Benefits, unpacks the major federal legislative updates that are relevant for small businesses and their employees.

No Surprises Billing Act
FSA Special Rules
Transparency
Employer Repayment of Student Loans

For more information, direct questions, or to be included in future Town Hall meetings, email info@arcwood.com.

Diana Durham, President of Arcwood HR LLC, leads us through workplace changes going into effect (or likely) in 2021. These changes include:

New Laws in Arizona: Hands Free Arizona, Recreational Marijuana Legalization
FFCRA Extension
COVID-19 Vaccines New Year Reminders

For information, any direct questions, or to be included in future Town Hall meetings, email info@arcwood.com.

Matt Hatfield, from the Lohman Company LLC, details the Consolidated Appropriations Act of 2021, which includes updates to the small business benefits from the CARES Act of 2021 – including:

Amendments to the PPP
Second Draw Loans
Updates to the Employee Retention Tax Credit

For information, any direct questions, or to be included in future Town Hall meetings, email info@arcwood.com.

Peter Rowe, CEO of Arcwood Benefits, shares exciting news about an upcoming educational series on health care benefits.

For more information on this upcoming series, any direct questions, or to be included on the series itself, contact info@arcwood.com.

Matt Hatfield, CPA Partner from the Lohman Company, presents the latest updates related to the Paycheck Protection Program.

For more information on this topic, any direct questions, or to be included in future Town Hall meetings, email info@arcwood.com.

Diana Durham, President of Arcwood HR, details the latest updates related to the Families First Coronavirus Response Act (FFCRA), including – eligibility based on child’s remote learning, health benefits, paid and unpaid leave, and more.

Diana and special guest, David Veurink of HCM, then shed light on employer and employee options for social security deferral through the end of 2020.

For more information on these topics, any direct questions, and to be included on future Town Hall calls, contact info@arcwood.com.

Attorney Dennis Hall provides insight into how workplaces and employers can adjust to the new normal, what areas may be hot spots, and precautions that should be taken based on the latest data on COVID-19.

For more information, direct questions, or to be invited to upcoming Arcwood town halls, email info@arcwood.com.