Since the ACA was enacted eight years ago, many employers are re-examining employee benefits in an effort to manage costs, navigate changing regulations, and expand their plan options. Self-funded plans are one way that’s happening. In 2017, the UBA Health Plan survey revealed that self-funded plans have increased by 12.8% in the past year overall, … Continued
On June 19, 2018, the U.S. Department of Labor (DOL) published Frequently Asked Questions About Association Health Plans (AHPs) and issued a final rule that broadens the definition of “employer” and the provisions under which an employer group or association may be treated as an “employer” sponsor of a single multiple-employer employee welfare benefit plan and group health plan … Continued
The office team arrives at 8:00 AM and is there every day until 5:00 PM. They work hard answering questions for clients, doing invoicing, and other important administrative tasks. The production team often shows up at 10:00 AM or later, takes a long lunch and quite often is seen leaving at 2:00 or 3:00 PM. … Continued
According to recent studies disability income is a rising star in the employee benefits market. This is due to a variety of factors. Most poignantly insurance company attempts to court and educate employee benefit advisers about the product, historically low national unemployment and financial impact of the recent tax reforms. In discussions with successful financial … Continued
New technologies are poised to fundamentally change the HR industry as we know it. Just as the smartphone revolutionized the way we communicate, artificial intelligence will reshape all areas of HR, from employee onboarding to learning management to developing top talent. And, similar to smartphones, these changes will take place at lightning speed. But what … Continued
What people want in their benefits package is changing. Retirement and health care still rank high but soft perks and voluntary benefits factor into satisfaction more than any other benefits, so says “Employees Increasingly Excited About Soft Perks and Company-Culture Benefits,” in Employee Benefit News. When considering a job offer, these types of benefits are top … Continued
Recently the Internal Revenue Service (IRS) issued its 2018 Publication 15-B, which informs employers about employment tax treatment of fringe benefits. Updates include: the suspension of qualified bicycle commuting reimbursements from an employee’s income for any tax year after December 31, 2017 and before January 1, 2026; the suspension of the exclusion for qualified moving expense … Continued
It was recently unveiled the latest findings from our 2017 Health Plan Survey. With data on 20,099 health plans sponsored by 11,221 employers, the UBA survey is nearly three times larger than the next two of the nation’s largest health plan benchmarking surveys combined. To learn more, watch this short video below.
Beginning in 2015, to comply with the Patient Protection and Affordable Care Act (ACA), “large” employers must offer their full-time employees health coverage, or pay one of two employer shared responsibility / play-or-pay penalties. The Internal Revenue Service (IRS) determines the penalty each calendar year after employees have filed their federal tax returns. In November … Continued
On December 13, 2016, President Obama signed the 21st Century Cures Act (Cures Act) into law. The Cures Act provides a method for certain small employers to reimburse individual health coverage premiums up to a dollar limit through HRAs called “Qualified Small Employer Health Reimbursement Arrangements” (QSE HRAs). The provision went into effect on January 1, 2017. On October … Continued
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