Insights - Bim Group

Recent Insights

The IRS Releases 2023 Limits for HSAs

The IRS just released 2023 limits for HSAs, HDHPs, and EBHRAs. The 2023 HSA limit increases are in response to our country’s recent spike in inflation, with rates increasing at a 40-year high. The 2023 HSA limits were announced as part of Revenue Procedure 2022-24 The new 2023 limits are: HSA Single $3,850 / Family $7,750 per year […]

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HR Elements | Generational Myths, Part 4: Baby Boomers

READ TIME: 3 MINUTES Today’s offices potentially span five full generations ranging from Generation Z to the Silent Generation. A coworker could just as easily be raised with a smartphone in hand as they could have used a typewriter at their first job. Some see differences between generational colleagues as an annoyance (“kids these days!”) […]

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Treasury Proposes Rule to Alter ACA Affordability and Minimum Value for Marketplace Premium Tax Credit Eligibility

READ TIME: 4 MINUTES The Department of Treasury recently issued proposed regulations to modify the rules for individuals to qualify for premium tax credits (PTCs) to help pay for Marketplace health coverage effective for tax years beginning on or after January 1, 2023. The new rules, if finalized, will base PTC eligibility for an employee’s […]

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HHS Releases Notice of Benefit and Payment Parameters for 2023 Final Rule

READ TIME: 3 MINUTES The Centers for Medicare & Medicaid Services (CMS) has released a final rule along with a fact sheet addressing the benefit and payment parameters for 2023. According to CMS, the 2023 benefit and payment parameters final rule seeks to strengthen the coverage offered by qualified health plans (QHPs) on the federal […]

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Webinar: Getting a Handle on Health & Welfare Plan Nondiscrimination Testing

Tuesday, May 10, 2022 2:00 p.m. ET / 11:00 a.m. PT Register Now Do you find yourself groaning every year during nondiscrimination testing season? Health and welfare plan nondiscrimination testing can be a daunting task for many employers, especially for those with more complex plan designs. Questions often arise around testing requirements and how a […]

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HR Elements | Generational Myths Part 3: Gen X

Today’s offices potentially span five full generations ranging from Generation Z to the Silent Generation. A coworker could just as easily be raised with a smart phone in hand as they could have used a typewriter at their first job. Some see differences between generational colleagues as an annoyance (“kids these days!”) and many rely […]

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EEO-1 Reporting Is Now Open

Source: Mineral The Equal Employment Opportunity Commission (EEOC) has announced that the 2021 EEO-1 Component 1 data collection is now open. The deadline to file the report is May 17, 2022. Employers should visit the EEO-1 Component 1 website for the latest filing updates and additional information. Employers can also visit the Filer Support Center […]

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HHS Hikes the Price for HIPAA and Medicare Secondary Payer Violations

The U.S. Department of Health and Human Services (HHS) recently published its annual inflation-adjusted civil monetary penalty amounts. The higher amounts will apply to penalties assessed after March 17, 2022, for any violations occurring on or after November 2, 2015. Health Insurance Portability and Accountability (HIPAA). HIPAA contains provisions that ensure portability of health coverage […]

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Transparency Rules Require Plan Sponsors to Act Now Before July 1 Deadline

The Departments of Health and Human Services, Labor, and Treasury (the Departments) released Transparency in Coverage (TiC) rules in late 2020 that will require fully insured and self-funded plan sponsors of non-grandfathered group health plans to make important disclosures about in-network and out-of-network rates beginning July 1, 2022. To be ready to meet that deadline, […]

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EBSA to Monitor 401(k) Cryptocurrency Investments

Employees and retirees have begun to press their employers to include cryptocurrency among available 401(k) investment options. The Employee Benefits Security Administration (EBSA) recently warned it will scrutinize such investments to make sure plans maintain proper oversight. EBSA further cautioned plan sponsors to be extremely careful when deciding whether and how to incorporate cryptocurrency as […]

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