Becker's Healthcare April 26, 2024
The Labor Department has issued its biggest increase to the federal overtime threshold in decades — and healthcare is among the most affected industries.
Effective July 1, salaried workers making less than $43,888 per year will qualify for 1.5 times pay if they work more than 40 hours per week, up from the current cusp of $35,568. On Jan. 1, the threshold will rise again to include salaried workers making less than $58,656.
The healthcare and social services industry — which employs a number of low-paid salaried workers — will see some of the most significant changes as a result of the rule, according to an April 23 analysis from the Economic Policy Institute. Across all industries, it...
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