Recent Insights

Don’t Forget! Registration Closing Soon! Feb. 20 Compliance Seminar

When Tuesday, February 20, 2018 from 8:00 AM to 9:00 AM EST Add to Calendar Register Now! Where Bim Group 1151 Red Mile Road Lexington, KY 40504 Driving Directions Contact Bim Group & Sturgill Turner info@bimgroup.us   Register Now! How to Manage a Compliant Health Benefit Plan: DOL Audits & Your Fiduciary Duties as Plan Manager […]

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January 2018 Compliance Recap

January 2018 January was a busy month in the employee benefits world. On January 24, 2018, the U.S. Senate confirmed Alex Azar as the new Secretary of the U.S. Department of Health and Human Services (HHS). The U.S. Department of Labor (DOL) proposed regulations regarding association health plans. HHS released the 2018 federal poverty guidelines. […]

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IRS Reporting Tip 2

2017 Plan Year Form 1094-C, Line 22 Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum […]

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2018 IRS Reporting Tip 1

Reporting Offers of COBRA Coverage The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires employers to offer covered employees who lose their health benefits due to a qualifying event to continue group health benefits for a limited time at the employee’s own cost. COBRA provisions are found in the Employee Retirement Income Security Act (ERISA), the […]

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Important Compliance Dates for 2018

Compliance Calendar 2018 Important Dates The following are important compliance due dates and reminders for 2018. The laws and due dates apply based on the number of employees, whether or not someone does business with the federal government, and on benefits offered. Other state-by-state laws may also apply. Date  Compliance Issue  Employer Action  1/1/2018  Social […]

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Federal Tax Credit for Employer-Provided Paid Family and Medical Leave

The Tax Cuts and Jobs Act (Act) includes a new federal tax credit for employers that provide paid family and medical leave (FML) to their employees. To be clear, the Act does not require employers to provide paid leave. However, eligible employers are allowed a tax credit based on wages paid to employees on FML. […]

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Business Deduction Elimination for Mass Transit and Parking Benefits

The Tax Cuts and Jobs Act (Act) eliminates the business deduction for qualified mass transit and parking benefits starting in 2018, except as necessary for ensuring an employee’s safety. The Act also eliminates the exclusion for bicycle commuting expenses for tax years 2018 through 2025. These benefits (except for bicycle commuting) will continue to be […]

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December 2017 Compliance Recap

Compliance Recap December 2017 December was a relatively busy month in the employee benefits world. The Internal Revenue Service (IRS) delayed the reporting deadlines in 2018 for the 1095-B and 1095-C forms to individuals. President Trump signed the Tax Cuts and Jobs Act. The Centers for Medicare and Medicaid Services (CMS) released guidance on accommodation […]

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DOL Issues Proposed Regulations Regarding Association Health Plans

On January 5, 2018, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) which oversees Title I of the Employee Retirement Income Security Act (ERISA) issued a proposed rule which would broaden the definition of “employer” and the provisions under which an employer group or association may be treated as an “employer” sponsor of […]

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Happy Holidays from Bim Group

Thank you for the trust and confidence placed in Bim Group to manage your employee benefit plan. As we reflect on the privilege to serve our clients, we are honored to contribute to the following organizations who make a meaningful difference in the lives of others. Wishing you all the best in the New Year! […]

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