WHOA! Hold the phone! I just discovered that Mr. Acme has been paying benefit premiums for several employees who left the company earlier this year. I’d calculate the loss on that little glitch to be around $100,000. Sounds crazy, I know, but for businesses that experience seasonal turnover or companies that are growing quickly, like Mr. Acme’s, it’s a fairly common oversight. Often busy business owners are trying to manage their own HR or internal HR teams are being stretched too thin. Keeping track of all the paperwork associated with employee benefits can be tricky, especially if that isn’t your primary focus or area of expertise.  Anyway, all is good for Mr. Acme now. We’ve stopped the bleeding and I’ll be on top of it going forward so those costly mistakes won’t happen again.

 



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