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National health expenditure growth is expected to average 5.6% annually over 2016-2025, according to a report compiled by the Centers for Medicare & Medicaid Services’ (CMS) Office of the Actuary (OACT). These projections are constructed using a current-law framework and do not assume potential legislative changes over the projection period.
When it comes to IRS audits, “an ounce of prevention is worth a pound of cure,” as Benjamin Franklin so wisely put it. The cure, in this case, most often requires restitution of deposits to your 401(k) or 403(b) plan, plus earnings, and in some cases, a sanction paid to the Internal Revenue Service (IRS).
by Jane Meacham, Contributing Editor The U.S. Department of Labor (DOL) on March 1 proposed a 60-day delay to June 9 of its so-called fiduciary rule on investment advice conflicts of interest and related exemptions, pushing back the rule’s original effective date of April 10. The DOL also opened two comment periods related to the […]
The Internal Revenue Service (IRS) has released guidance on its advice provided by determination letters and private letter rulings reflecting several changes that took effect January 1.
Yesterday’s Leadership Daily Advisor set the stage for some far-reaching employee benefits design change in the works. Bolstered by fresh research showing that the Millennial workforce is quickly shaping new strategies for the entire benefits arena, we touched on three studies identifying what’s ahead. Today, we describe three main priorities that will drive the most […]
While clearly not every job is a good candidate for remote work, there are millions of jobs that are. This fact contributes to the ever-growing percentage of the workforce (now estimated to be around 40%) that work virtually in some capacity. Some employers remain wary of allowing remote work, while others embrace it fully. Let’s […]
A health insurer that had laptops with personal information stolen can be sued by participants, even if they have no evidence that the thieves later misused the data, a federal appeals court ruled.
The U.S. Pension Benefit Guaranty Corp. (PBGC) has added two more conditions to the list of early warning factors that it watches and believes may endanger the funding of single-employer defined benefit (DB) retirement plans.
Question: We provide employees the option to take a lump sum cash payment ($1,000/yr) in lieu of accepting benefits, payable in increments over each pay period. The U.S. Court of Appeals for the 9th Circuit has indicated those payments should be included in the base wage for purposes of calculating overtime (see Flores v. City […]
February brings with it a number of holidays and observances, from Groundhog Day and President’s Day in the U.S. to Valentine’s Day throughout the world. But as we celebrate love, Washington’s birthday, and everyone’s favorite groundhog, Punxsutawney Phil, a national health observance goes unnoticed by most.