Practice management updates
New overtime rules
The US Department of Labor recently announced its long-awaited overtime pay rules that raise the minimum pay for so-called “exempt” workers. If you have salaried employees in executive or managerial positions who earn $47,476 per year ($913 per week) or less, you will be required to pay them overtime pay (i.e. one and half times their rate) for hours in excess of 40 per week. The new rule takes effect Dec.1, 2016. This does not affect hourly employees such as medical assistants, LPNs, front office staff, etc.. Although we would expect that most individuals in professional or managerial positions are already paid more than $47,476 per year, there may be some practices in some parts of the country where this is an issue. Get more information.
Beware of CMS data match letters
Medicare (CMS) is looking for Medicare enrollees who are still working and have access to employer-provided coverage. CMS rules prohibit an employer with 20 or more employees from encouraging those who qualify for Medicare to switch over from employer-provided coverage. Penalties may be up to $5,000 – but the bigger issue is that employers found in violation are responsible to paying Medicare back for medical claims paid by Medicare. Find out more.