Cures Act Creates New HRA Option for Small Employers
A broad-based healthcare bill signed December 13 by President Obama established a new form of stand-alone health reimbursement arrangement (HRA) for small employers.
Tag: benefits
Judge Blocks Gender Transition, Abortion Provisions of ACA Nondiscrimination Rule
Provisions of an Affordable Care Act (ACA) nondiscrimination rule that relate to gender transition and abortion were blocked by a federal district court on December 31, the day before they were scheduled to take effect.
New Year, New IRS Business Mileage Rate: Tips to Manage Reimbursement
by Donna Koppensteiner, SVP at Runzheimer Now that the 2017 IRS business mileage rate is out, it’s time for companies to strategically evaluate their business vehicle reimbursement policies to ensure they are appropriately reimbursing business drivers while keeping expenses to a minimum.
To Lump Sum or Not to Lump Sum: What to Consider When Choosing a Relocation Compensation Package
by Lisa Johnson, global practice leader for consulting services at Crown World Mobility After years of staying put due to the stagnant economy, the improved current economic conditions have resulted in more and more workers—confident in the job market and willing to move to new places and take chances—happily relocating for new jobs. With this […]
Ask the Expert: Clarifying Protected Health Information Under HIPAA Privacy Rule
Question: Are payroll deductions for employee medical plan coverage considered protected health information (PHI) under HIPAA regulations?
Roth 401(k) Accounts Add Value Through Tax Diversification
by Lisa Higgins, Contributing Editor Have you given your employees every opportunity to reach a secure retirement? There is one simple strategy you may not be using that could make a real difference: the Roth account. According to a survey from Willis Towers Watson, Capturing the Opportunity of Roth 401(k) Contributions, What Employees Are Missing […]
Cognitive Performance Has Implications for Defined Contribution Plans
by Lisa Higgins, Contributing Editor If you do not already offer automatic enrollment in your defined contribution plan, you might want to consider doing so. Such a move is likely to increase participation in retirement saving and may be particularly beneficial for young workers, an expert says. Here’s why.
COBRA: Proper Mailing Procedures Trump Address Mistake
by Gwen Cofield Although an employer or plan administrator is not required to ensure actual receipt of the Consolidated Omnibus Budget Reconciliation Act (COBRA) notice, a good-faith effort to provide the COBRA notice must be made. Where an administrative error prevents the receipt of the COBRA notice, an employer or plan administrator can demonstrate good-faith […]
CMS Releases 2015 National Health Expenditures
In 2015, per-capita health care spending grew by 5.0% and overall health spending grew by 5.8%, according to a study by the Office of the Actuary at the Centers for Medicare & Medicaid Services (CMS) recently released as a Web First by Health Affairs.
IRS 2016 Required Amendments List Gives First Guidance on Changes Needed to Retain Qualification
by Jane Meacham The Internal Revenue Service (IRS), in its first “Required Amendments (RA) List” on December 13, 2016, informed individually designed employer-sponsored retirement plans about required amendments for 2016 that may be needed to reflect changes and ensure the plans keep their qualified status. In the release, IRS Notice 2016-80, the agency also said […]