By Pamela Dembski Hart, Healthcare Accreditation Resources LLC?
I attended the annual OSHA Health and Safety (Bloodborne Pathogen and HAZCOM) training recently provided at our dental practice. I inquired when I would receive the OSHA certification form. The instructor informed me that??
Contrary to what you may have heard from the rumor mill, OSHA does not actually certify workers and you cannot get “OSHA certified”. Courses and trainers are considered OSHA “authorized” or in ?accordance with the training requirements?, and attendees must receive required course completion documentation (and not just a certificate of attendance).
Anyone claiming to be OSHA certified or offering OSHA certification other than from the Department of Labor (DOL) would be seriously incorrect and making false claims.
OSHA certification is only achieved when an individual attends a 10 or 30 hour OSHA Outreach training, which is provided by OSHA authorized trainers and results in the issuance of an official Department of Labor (DOL) OSHA 10-Hour or 30-Hour card.
Staff do not need an official DOL card to achieve OSHA compliance. However, your dental staff does need annual site specific training regarding OSHA?s Bloodborne Pathogen Standard, the Hazard Communication Standard and General Duty clause. Also, the new HAZCOM training requirements which were mandated since 2012 regarding OSHA Globally Harmonized System/HAZCOM.
Training must be interactive site specific, offer the attendee the opportunity to ask questions and to obtain an immediate response to the question. Web based training must make provisions for an immediate response to any questions. (e-mail is NOT an immediate response.) Quizzes alone do not meet the requirement of OSHA training.
Also regarding CE?s: according to PACE/AGD, the MA BORID and nationally recognized guidelines 55 minutes of live training = 1 CE. Basically that means that a 2 hour course would equal 2 CE?s and NOT 3!
Finally, reference MA BORID regulations, which as of July 1, 2016 the Board and the DHPL office of Public Relations will begin random audits of all licensed dentists regarding compliance with 234CMR 8.00, the boards regulation regarding continuing education.
Listed below are the facts according to current law regarding training and include the appropriate regulatory text number.
Information and Training.
Employers shall ensure that all employees with occupational exposure participate in a training program which must be provided at no cost to the employee and during working hours.
Training shall be provided as follows:
At the time of initial assignment to tasks where occupational exposure may take place;
At least annually thereafter.
Annual training for all employees shall be provided within one year of their previous training.
Employers shall provide additional training when changes such as modification
of tasks or procedures or institution of new tasks or procedures affect the employee’s occupational exposure. The additional training may be limited to new exposure or adverse events
Material appropriate in content and vocabulary to educational level, literacy, and language of employees shall be used.
The training program shall contain at a minimum the following elements:
An accessible copy of the regulatory text of this standard and an explanation of the regulations
A general explanation of the epidemiology and symptoms of bloodborne diseases;
An explanation of the modes of transmission of bloodborne pathogens;
An explanation of the employer’s exposure control plan and the means by which the employee can obtain a copy of the written plan;
An explanation of the appropriate methods for recognizing tasks and other activities that may involve exposure to blood and other potentially infectious materials;
An explanation of the use and limitations of methods that will prevent or reduce exposure including appropriate engineering controls, work practices, and personal protective equipment;
Information on the types, proper use, location, removal, handling,decontamination and disposal of personal protective equipment;
An explanation of the basis for selection of PPE? and the list goes on to include several other required training elements.
HAZCOM (29 CRF 1910.1200) Training: Includes new(2012) GHS requirements
Employee Information and Training.
(h)(1) Employers shall provide employees with effective information and training on hazardous chemicals in their work area at the time of their initial assignment, and whenever a new chemical hazard the employees have not previously been trained about is introduced into their work area. Information and training may be designed to cover categories of hazards (e.g., flammability, carcinogenicity) or specific chemicals. Chemical-specific information must always be?available through labels and safety data sheets.(SDS?s)
Employees shall be informed of: The requirements of this section;
- Any operations in their work area where hazardous chemicals are present; and,
- The location and availability of the written hazard communication program, including the required list(s) of hazardous chemicals, and safety data sheets required by this
(h)(3) Training. Employee training shall include at least:
- Methods and observations that may be used to detect the presence or release of a hazardous chemical in the work area (such as monitoring conducted by the employer, continuous monitoring devices, visual appearance or odor of hazardous chemicals when being released, etc.);
- The physical, health, simple asphyxiation, combustible dust, and pyrophoric gas hazards, as well as hazards not otherwise classified, of the chemicals in the work area;
- The measures employees can take to protect themselves from these hazards, including specific procedures the employer has implemented to protect employees from exposure to hazardous chemicals, such as appropriate work practices, emergency procedures, and personal protective equipment to be used; and,
- The details of the hazard communication program developed by the employer, including an explanation of the labels received on shipped containers and the workplace labeling system used by their employer; the safety data sheet, including the order of information and how employees can obtain and use the appropriate hazard information.
- December 1, 2013 ? By this date, employers must train employees on how to read GHS formatted labels and SDSs. Changes to labels are probably more substantial, however, employees need to understand where to find information on the SDS, especially in section 2 where critical hazard information is
- June 1, 2016 ? By this date employers should be fully compliant with HazCom 2012. That includes making any necessary updates to their HazCom program, training employees on any newly identified chemical hazards (identification of new hazards is likely during the reclassification process chemical manufacturers undertake), and updating safety data sheet manuals and secondary
Information listed above does not include information about the required HIPAA training, Infection Prevention and Control training (per CDC guidelines) and the Massachusetts Board of Registration in Dentistry. Retain all (OSHA) training records for a period of 5 years/per BORID (OSHA mandates retention for 3 years)
Pamela Dembski Hart, BS, MT (ASCP), CHSP, is Principal and Founder of Healthcare Accreditation Resources LLC.
She can be reached at:
Pam is an approved PACE Program Provider, FAGD/MAGD Credit. Approval does not imply acceptance by a state or provincial board of dentistry or AGD endorsement Provider ????ID#368382 (3/1/16 to 2/28/18)
By Marc Slafsky, Salem Five Insurance Services?
Content provided by Travelers Insurance, ISU Network, and Philadelphia Insurance Co.?
October is Cyber Liability Awareness Month.? Did you know:
- Data breaches have increased 42% in the last year.
- 31% of the breaches have occurred in companies with less than 100 employees.
- All Industries are vulnerable.
- The average cost of a breach today has risen to over $5 million dollars.
- The cost associated with a breach averages $188 per compromised record.
Many doctors and dentists aren?t aware that their standard insurance coverages (Malpractice, GL, Property) typically don?t provide proper coverage for cyber and privacy liability. Most also don?t know that they (along with their practice) have an exposure to cyber and privacy risk, especially given the presence of personal health information that they and their vendors have access to and the laws that exist to protect this.
Specifically in the healthcare industry, some claim examples are:
- A lost laptop that has patient records was stolen from a vehicle. This information contained patient names, social security numbers, dates of birth, address, phone number and MEDICAL CONDITIONS.? This could be considered 3-6 Records (depending on state law) that have been compromised.
- A practice was ?down? for 4 days due to a hacker ?attack?; the practice was unable to see patients was they could not access records, scheduling, of critical computer equipment.? The practice lost the revenue for 4 days and had to pay the cost of the repair from the hacker damage.
- Medical information that was scheduled to the shredded per HIPPA laws was accidently thrown away in an unsecured dumpster. This resulted in a class action suit against the practice
A Cyber Liability Insurance policy protects against these types of losses.? The policy pays when insured is liable for theft or loss of unauthorized access to Personal Information, Breach response and Notification and Regulatory Defense and Penalties.
The policy is based on Gross Revenue and the cost can range from $975-$1800 annually for a $1,000,000 of coverage.? This is becoming just as important as your general liability and professional liability in today?s business environment.
If you?d like more information about Cyber Liability Insurance, please contact your insurance broker or Marc Slafsky at Salem Five Insurance (978-720-5144, email@example.com).
New Procedure Helps People Making IRA and Retirement Plan Rollovers
From ?IRS News? IR-2016-113
The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA).
In?Revenue Procedure 2016-47, posted on?IRS.gov, the IRS explained how eligible taxpayers, encountering a variety of mitigating circumstances, can qualify for a waiver of the 60-day time limit and avoid possible early distribution taxes. In addition, the revenue procedure includes a sample self-certification letter that a taxpayer can use to notify the administrator or trustee of the retirement plan or IRA receiving the rollover that they qualify for the waiver.
Normally, an eligible distribution from an IRA or workplace retirement plan can only qualify for a tax-free rollover treatment if it is contributed to another IRA or workplace plan by the 60th day after it was received.? In most cases, taxpayers who fail to meet the time limit could only obtain a waiver by requesting a private letter ruling from the IRS.
A taxpayer who missed the time limit will now ordinarily qualify for a waiver if one or more of 11 circumstances, listed in the revenue procedure, apply to them. They include a distribution check that was misplaced and never cashed, the taxpayer?s home was severely damaged, a family member died, the taxpayer or a family member was seriously ill, the taxpayer was incarcerated or restrictions were imposed by a foreign country.
Ordinarily, the IRS and plan administrators and trustees will honor a taxpayer?s truthful self-certification that they qualify for a waiver under these circumstances. Moreover, even if a taxpayer does not self-certify, the IRS now has the authority to grant a waiver during a subsequent examination. Other requirements, along with a copy of a sample self-certification letter, can be found in the revenue procedure.
The IRS encourages eligible taxpayers wishing to transfer retirement plan or IRA distributions to another retirement plan or IRA to consider requesting that the administrator or trustee make a direct trustee-to-trustee transfer, rather than doing a rollover. Doing so can avoid some of the delays and restrictions that often arise during the rollover process. For more information about rollovers and transfers, check out the??Can You Move Retirement Plan Assets???section in Publication 590-A, or the??Rollovers of Retirement Plan and IRA Distributions??page on?IRS.gov.
Example of the Certification for Late Rollover Contribution (included in Rev. Proc 2016-47)
Certification for Late Rollover Contribution
City, State, ZIP Code
Plan Administrator/Financial Institution
City, State, ZIP Code
Dear Sir or Madam:
Pursuant to Internal Revenue Service Revenue Procedure 2016-47, I certify that my contribution of $ [ENTER AMOUNT] missed the 60-day rollover deadline for the reason(s) listed below under Reasons for Late Contribution. I am making this contribution as soon as practicable after the reason or reasons listed below no longer prevent me from making the contribution. I understand that this certification concerns only the 60-day requirement for a rollover and that, to complete the rollover, I must comply with all other tax law requirements for a valid rollover and with your rollover procedures.
Pursuant to Revenue Procedure 2016-47, unless you have actual knowledge to the contrary, you may rely on this certification to show that I have satisfied the conditions for a waiver of the 60-day rollover requirement for the amount identified above. You may not rely on this certification in determining whether the contribution satisfies other requirements for a valid rollover.
Reasons for Late Contribution
I intended to make the rollover within 60 days after receiving the distribution but was unable to do so for the following reason(s) (check all that apply):
___ An error was committed by the financial institution making the distribution or receiving the contribution.
___ The distribution was in the form of a check and the check was misplaced and never cashed.
___ The distribution was deposited into and remained in an account that I mistakenly thought was a retirement plan or IRA.
___ My principal residence was severely damaged.
___ One of my family members died.
___ I or one of my family members was seriously ill.
___ I was incarcerated.
___ Restrictions were imposed by a foreign country.
___ A postal error occurred.
___ The distribution was made on account of an IRS levy and the proceeds of the levy have been returned to me.
___ The party making the distribution delayed providing information that the receiving plan or IRA required to complete the rollover despite my reasonable efforts to obtain the information.
I declare that the representations made in this document are true and that the IRS has not previously denied a request for a waiver of the 60-day rollover requirement with respect to a rollover of all or part of the distribution to which this contribution relates. I understand that in the event I am audited and the IRS does not grant a waiver for this contribution, I may be subject to income and excise taxes, interest, and penalties. If the contribution is made to an IRA, I understand you will be required to report the contribution to the IRS. I also understand that I should retain a copy of this signed certification with my tax records.
Presented by Matthew Metraw, Axial Financial Group
U.S. equity markets bounced back to close September with mixed results. The Dow Jones Industrial Average lost 0.41 percent for the month, but the S&P 500 Index and Nasdaq posted gains, up 0.02 percent and 1.96 percent, respectively.? For the quarter, the Dow was up 2.78 percent, the S&P 500 gained 3.85 percent, and the Nasdaq, again delivering the best performance, was up 10.02 percent. Overall, these results represent the best quarter of the year for the U.S. stock market.
Though market performance was strong, fundamentals weakened, as earnings continued to disappoint. According to FactSet, as of September?s end, third-quarter earnings are expected to decline 2.1 percent, which is down from the 0.3-percent gain estimated at the end of June. This continuing weakness is worrisome because fundamentals ultimately drive market performance.
Technical trends remained positive throughout the quarter. All three major U.S. indices finished the period above their 200-day moving averages.
Developed international markets performed well during the month and quarter. The MSCI EAFE Index ended September up 1.23 percent, capping off a quarterly 6.43-percent gain. Technical trends also stayed positive, with the index above its 200-day moving average throughout September.
Emerging markets also performed well, as the MSCI Emerging Markets Index was up 1.32 percent for the month and 9.15 percent for the quarter. Technical signals were positive for the entire quarter, with the index remaining comfortably above its 200-day moving average.
Fixed income posted mixed results for the month and quarter. The Barclays Capital Aggregate Bond Index was down 0.06 percent in September and gained 0.46 percent for the quarter. U.S. corporate high-yield bonds, as reflected in the Barclays Capital U.S. Corporate High Yield Index, performed well, up 0.67 percent in September and 5.55 percent for the quarter.
U.S. Economic Data Also Mixed
Both the ISM Manufacturing and Non-Manufacturing indices declined in September, with the manufacturing index retreating into contraction territory and the nonmanufacturing index hitting a six-year low. But not all business news was bad. The National Association of Home Builders survey beat expectations for September and reached its highest point since October 2015. The improvement indicates that home builders are increasingly optimistic about the future of the housing market.
Home builder optimism was driven by strong consumer demand and sentiment. Consumer confidence hit post-recession highs, as illustrated in Figure 1. This improvement could bode well for increased household spending heading into the fourth quarter and 2017.
Source: The Conference Board/Haver Analytics
Much of the gain in consumer confidence was engendered by continued job growth, as a healthy 151,000 jobs were added during August. Personal income also grew in August; one of the most impressive headlines released was a 5.2-percent annual increase in real median household income.
Despite weak business sentiment, as expected, the Federal Open Market Committee kept interest rates unchanged at its September meeting.? Moreover, the committee?s discussion of the economy was largely positive.
Risks Are Still Present
International risks were largely subdued in September. Although there are causes for concern?with problems at Deutsche Bank at the top of the list?other issues such as Syria and China have receded as immediate threats.
The largest risk to U.S. markets heading into year-end may be the presidential election.? Polls show both major candidates with a chance to take the White House. Because of the policy differences between the candidates, consumers and businesses may be delaying spending and investment until they see what happens.
Long-term Prospects Still Attractive
Although there are catalysts for market volatility in the near term, the U.S. economy is growing and remains among the strongest in the world. The healthy increases in job and wage growth have helped provide a solid foundation for the recovery and signal that growth, though perhaps at low levels, is likely to continue. Nevertheless, as always, a diversified portfolio and long-term view still offer the best route to reach financial goals.
Matthew Metraw?is a financial advisor with Axial Financial Group, located at 5 Burlington Woods, Suite 102, Burlington, MA 01803.? He offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network?, Member FINRA/SIPC, a Registered Investment Adviser. He can be reached at 781-273-1400 or firstname.lastname@example.org.
This article is Authored by Brad McMillan, CFA?, CAIA, MAI, chief investment officer at Commonwealth Financial Network.
? 2016 Commonwealth Financial Network?
By Susan Schwartz, CFP ?
There are significant changes to college financial aid applications this year.? First, the 2017-2018 FAFSA and CSS Profile will be available to students and parents as of October 1, 2016.? This is a three month change from the traditional January 1st release date.? The goal is to allow families more time to receive and compare financial aid offers from different colleges.
The second major change is that the 2017-2018 FAFSA will be submitted using the family?s 2015 tax return.? Colleges are referring to this as ?prior prior year returns?.? This is a practical and welcome relief to everyone that scrambled to get returns completed by the financial aid deadlines early in the year.
Grandparents that want to help pay for college also benefit from this change.? Any money paid towards college costs that comes from a grandparent counts as income to the student in the following year?s financial aid application.? Most grandparents were encouraged to wait to contribute until the student?s junior year when the last FAFSA was submitted.? With prior prior year reporting, grandparents can contribute a year earlier without impacting financial aid calculations.
One final bit of big news.? Tucked away in a 123 page economic development bill, Massachusetts signed into law a tax deduction for 529 plan contributions.? It only applies to MA 529 plans and provides a $1,000 state tax deduction for single filers and $2,000 for married.
By Andrew Schwartz, CPA
Last month, my wife and I dropped off our older child at college to start his freshman year.? He is eager to spend the next four years taking classes in a variety of interesting subjects while working towards his degree.
A lot of what college kids learn, however, is learned outside the classroom.? My wife (who is a Certified Financial Planner) and I feel we already planted the seeds for a few practical personal finance lessons as part of our son’s preparation for his freshman year.
Sticking to a budget is helpful for businesses as well as for households.? While some people put together very detailed budgets each year, my son opted for a much simpler alternative to track whether he will end up sticking to his budget.
Earlier this summer, my son opened his own checking account along with a companion savings account, and then deposited all of his paychecks from his summer job, plus any graduation gifts he received, into his new savings account.? He feels he earned enough during the summer to have built a sufficient stash in his savings account to cover his books and spending money for the entire freshman year.
Here is the step that will help him learn about budgeting basics.? In order to make this pool of money last through both semesters, he only transferred enough money from his savings account into his checking account to cover one semester’s projected spending.? Doing so lets him easily monitor his spending as compared to his budget.
If there is any money left over in his checking account at the end of the first semester, then he successfully met his budget.? Alternatively, if he ends up dipping into his savings before Semester One ends, he knows he’ll need to increase his budget for the second semester, which means he’ll probably need to get a job over winter break and/or work on campus when he returns to school in January in order to meet his second semester spending needs.
Begin to Establish a Credit History
My son is also taking this opportunity to begin to establish his own credit history.? At the same time that he opened his companion checking and savings account, he also applied for a low-limit credit card connected to these accounts.? I believe the limit for his credit card is just $800.
Each month, he plans to make a few purchases using his credit card.? To make sure he won’t miss making the monthly credit card payment (which would end up hurting his credit score), he already set up for the full balance of the credit card to be? “autopaid” out of his checking account prior to the card’s due date.
Establishing a consistent history of utilizing credit and then paying off the balance due in a timely fashion is a great way to establish a credit history and build up one’s credit rating.? Graduating with 48 months of consistently good credit history will be very valuable to someone entering the work force, looking to purchase or lease a vehicle, hoping to rent an apartment, or doing anything else that would require someone to pull a credit report.
(Check out our recorded presentation: Financial Cleanup: Your Credit Report.)
Two Great Lessons:
Learning how to budget and taking steps to establish and improve one’s credit are two practical personal finance lessons that my son won’t be taught in the 40 or so college classes he’ll be taking over the next four years.? Instead, he has already begun to learn these two useful lessons as part of his college experience before even stepping foot into his first undergrad class.