Year-End Reporting: Clarifying Tax Forms and ACA Requirements
Navigating the latest tax reporting changes and avoiding filing errors is not always straightforward and can present unique challenges to small and midsized businesses.
Tag: benefits
CMS Finalizes Health Insurance Marketplace Rules
On December 16, the Centers for Medicare & Medicaid Services (CMS) issued the Notice of Benefit and Payment Parameters final rule and the final Annual Letter to Issuers for 2018. The primary focus of the notice—risk stabilization—complements recent announcements that are meant to improve the risk pool, including actions to address third-party payments of premiums and improve program integrity for […]
Provider Fraud, Treatment Delays Targeted in New California Workers’ Comp Laws
In California, a worker can seek treatment for a work-related illness or injury that’s expected to be covered under the employer’s workers’ compensation policy. To be paid for services performed for claims that aren’t yet finalized, the healthcare provider can file a lien (a claim for payment) against the employee’s workers’ compensation benefits claim. Unfortunately, […]
Weighing Paid Parental Leave? Consider These Points First
While the United States is still one of few developed nations that do not offer paid parental leave, Americans overwhelmingly support these policies. A recent poll shows that 82% of voters say it’s important to explore legislation that allows paid time off for medical and family reasons. Today, there is potential for change on the horizon. There has been a growing chorus of support for possibly amending federal unemployment insurance laws to guarantee 6 weeks of paid maternity leave.
How Many Weeks Must Your Employees Work to Pay for Healthcare Coverage?
Healthcare coverage has been a hot button issue for employers since President Obama signed the Affordable Care Act (ACA) into law in 2010. With President-elect Donald Trump taking office, there has been much speculation over whether or not the ACA will be repealed. Only time will tell if the ACA survives a Trump presidency, but […]
Is 2017 the Year for Financial Wellness Among Your Employees?
Throughout 2016, newspapers and magazines documented Americans beset by financial concerns. “Evidently, Americans are having a difficult time with their finances. Whatever its cause, their financial insecurity and growing awareness of just how great their insecurity is—inability to cover even a $400 emergency—has created a level of financial stress that is impacting all areas of […]
DOL Announces Final Rule Relating to Disability Benefits Claims Process
The U.S. Department of Labor has announced a final rule requiring that plans, plan fiduciaries, and insurance providers comply with additional procedural protections when dealing with disability benefit claimants.
U.S. Representative Introduces Bill to Repeal Cadillac Tax
On January 4, U.S. Representative Mike Kelly (R-PA) introduced H.R. 173, the Middle Class Health Benefits Tax Repeal Act of 2017. The bill seeks to repeal the so-called “Cadillac Tax” provision within the Affordable Care Act (ACA). The provision, which is currently slated to go into effect January 1, 2020, would impose a 40% excise […]
Don’t Let Your Data or Participants Get Lost in Space
by Mary B. Andersen, CEBS, ERPA, QPA ‘Lost in Space” was a popular television series in the 1960s. Sabotage by crew member Dr. Zachary Smith threw the ship off course and launched endless adventures. Today’s equivalent of Dr. Smith is an unauthorized computer hacker who breaks into data security systems and wreaks havoc on confidential […]
Suit Against 401(k) Plan Shows Fiduciary Protection Can’t Be Taken for Granted
by Arris Reddick Murphy The Employee Retirement Income Security Act (ERISA)’s Section 404(c) protection is commonly relied upon by plan fiduciaries to lessen potential liability in the event that participants, who are directing their investments in employer-sponsored 401(k) plans, suffer large losses.