Looking backward can actually help you plan forward and make the most of your health care dollars for the coming year.
Recently, the President signed a bill repealing the Affordable Care Act’s Individual Mandate (the tax penalty imposed on individuals who are not enrolled in health insurance). While some are praising this action, there are others who are concerned with its aftermath. So how does this affect you and why should you pay attention to this … Continued
Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs — either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15. Purpose Medicare began offering “Part D” plans … Continued
Question: How do we handle overtime pay calculations for hourly employees when they receive nondiscretionary bonuses? Answer: A nondiscretionary bonus is a bonus based on an employee meeting criteria such as production, sales, quality, efficiency, or other performance standards. The federal Fair Labor Standards Act (FLSA) requires that overtime pay be calculated based on an hourly employee’s … Continued
It’s typical to have mixed feelings about the annual benefits open enrollment period. Dread for the additional administrative workload and potential benefits cost increases… Anticipation of newer, more attractive, and easier to administer plans… It makes for a fall season that causes many HR professionals and benefits brokers to drown their misery in pumpkin spice lattes. … Continued
On August 31, 2018, President Trump signed an executive order directing the Departments of Labor and Treasury to make it easier for employers to offer retirement and savings programs. The majority of workers are employed at small businesses where they are less likely to have access to 401(k) plans and other retirement plans than workers … Continued
IRS Permits Student Loan Repayment Benefit as Part of Employer’s 401(K) On August 17, 2018, the federal Internal Revenue Service released a private ruling letter (Number 201833012) concluding that an employer may amend its 401(k) plan to provide student loan repayments (SLR) nonelective contributions under the program without violating the “contingent benefit” prohibitions of 26 … Continued
Recently, the President signed a bill repealing the Affordable Care Act’s Individual Mandate (the tax penalty imposed on individuals who are not enrolled in health insurance). While some are praising this action, there are others who are concerned with its aftermath. So how does this affect you and why should you pay attention to this … Continued
Taking control of health care expenses is on the top of most people’s to-do list for 2018. The average premium increase for 2018 is 18% for Affordable Care Act (ACA) plans. So, how do you save money on health care when the costs seems to keep increasing faster than wage increases? One way is through … Continued
If you haven’t heard, the latest video game craze is Fortnite Battle Royale. This free multiplayer game can be played on both PC & Mac computers, Xbox, Playstation, and iOS devices. Fortnite is set on an island where a floating bus drops 100 players to gather materials to build fortresses and collect weapons in order … Continued