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Compliance Recap May 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

PREPARE NOW TO PAY THE PCORI FEE The Patient-Centered Outcomes Research Institute (PCORI) fee funds research that evaluates and compares health outcomes, clinical effectiveness, and the risks and benefits of medical treatments and services. Effective through 2029, the IRS treats this fee like an excise tax, applied to all covered lives, including employees, retirees, spouses, … Continued

Compliance Recap April 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

FEDERAL TRADE COMMISSION BANS NON-COMPETE CLAUSES On April 23, 2024, the Federal Trade Commission (FTC) finalized a rule banning most employers and employees from entering into non-compete clauses, effective 120 days post-publication in the Federal Register. This move aims to eliminate these clauses across all levels of workers, with a narrow exception for senior executives’ pre-existing agreements. … Continued

Benefits Check-up: 6 Compliance Issues Affecting Your Clients’ Health | JRW Associates, Inc., a Raleigh Benefit Advisory

A health plan is more than a product or service; it’s a relationship. All productive and healthy relationships—especially in the benefits space—rely on trust. When an employer extends trust in a broker or insurance carrier to purchase something as critical as healthcare—for people as critical as their workers and families—we’re obligated to raise all factors … Continued

Compliance Recap February 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

In early February, a federal class action lawsuit was filed against Johnson & Johnson (JNJ) and its plan fiduciaries, alleging overpayment for prescription drugs within its prescription drug plan. The complaint alleges that under the Employee Retirement Income Security Act of 1974 (ERISA), JNJ’s plan fiduciaries are obligated to diligently compare service providers, seek cost-effective options, and … Continued

Compliance Recap | JRW Associates, Inc., a Raleigh Benefit Advisory

QUESTION OF THE MONTH Q: My wife and I work in the same small company. Is having her on my plan as spouse allowed? Can we both contribute separately from our own paychecks into our own Health Savings Account (HSA)? Or does it need to be my deduction only since I am the policy holder? A: Yes, … Continued

Compliance Recap January 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

NEW EMPLOYEE CLASSIFICATION RULE In January, the Department of Labor (DOL) Wage and Hour Division introduced a rule that changes the way workers are classified under the Fair Labor Standards Act (FLSA). This Final Rule, effective March 11, 2024, offers a more comprehensive test to determine a worker’s status, potentially making it more challenging to classify … Continued

Compliance Recap December 2023 | JRW Associates, Inc., a Raleigh Benefit Advisory

WORKPLACE POSTERS The U.S. Department of Labor (DOL) enforces the posting of employee notices in the workplace to comply with various DOL statues. The posters are available for free in multiple languages. To determine which posters are needed for your business, the DOL  FirstStep Poster Advisor can help. Employers can download and print the posters directly from … Continued

Compliance Recap November 2023 | JRW Associates, Inc., a Raleigh Benefit Advisory

NEW ACA FAQS RELEASED The Affordable Care Act (ACA) Implementation FAQ Part 63, issued by the U.S. Departments of Labor, Health and Human Services, and the Treasury focuses on the Public Health Service Act, which mandates that non-grandfathered group health plans and health insurance issuers provide culturally and linguistically appropriate summaries of benefits and coverage (SBC) … Continued

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9121 Anson Way
Suite 200
Raleigh, NC 27615

Phone
919.571.0883

Email
info@jrwassoc.com