Bim Group is honored to be named a Best Place to Work (BPTW) in Kentucky for the 15th year in a row! We are extremely proud of our perennial recognition as a “Best Place to Work” employer – a designation bestowed on our company by our employees. We have a unique culture that fosters exceptional teamwork and […]
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Bim Group: A Year in Review
HR Elements: Marketing a Modern Benefits Package
Each year can bring new challenges for successfully implementing and marketing a modern employee benefits package. Participation is critical—without it, companies cannot offer the kind of benefit savings that they are expected to. Add this to the state of the “talent crisis” as it stands with the current job market, and your HR team has […]
Read moreHighlights of the Patient-Centered Outcomes (PCORI) / Comparative Effectiveness Fee
The Patient-Centered Outcomes Research Institute (PCORI) fee initially applied from 2012 to 2019. However, in December 2019, the Further Consolidated Appropriations Act, 2020 extended the fee to 2029. The fee is due based on plan/policy years ending on or after October 1, 2012, and before October 1, 2029. The fee is due by July 31 of the year following the calendar year in which the plan/policy year ended. This means that the first fee was due July 31, 2013, for those on November, December, and […]
Read moreCompliance Recap – December 2019
December was a busy month in the employee benefits world. The U.S. Court of Appeals for the Fifth Circuit held that the Patient Protection and Affordable Care Act’s (ACA’s) individual mandate is unconstitutional. The Internal Revenue Service (IRS) released final instructions and final 1094-B, 1095-B, 1094-C, and 1095-C forms for 2019. The IRS also extended […]
Read moreWebinar: What Employers Need to Know About the New Final Rules on HRAs, Part 2
Tuesday, January 14, 2020 2:00 p.m. ET / 11:00 a.m. PT Register Now This webinar will provide an overview of the new final rules on health reimbursement arrangements regarding individual coverage HRAs with an emphasis on the proposed rules regarding nondiscrimination and affordability by: Describing what a health reimbursement arrangement (HRA) is Describing the new […]
Read moreHappy New Year from Bim Group!
Thank you for the confidence and trust your company has 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 […]
Read moreSpending Bill Extends PCORI Fee and Repeals Cadillac Tax, HIP Fee, and Medical Device Excise Tax
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (Act) to keep the federal government running through September 2020. The Act significantly affects provisions under the Patient Protection and Affordable Care Act (ACA), largely though one fee extension and the repeal of three taxes. The changes most relevant to employer-sponsored group health […]
Read moreStatus of Court Case Challenging ACA Constitutionality
On December 18, 2019, the U.S. Court of Appeals for the Fifth Circuit (Appeals Court) held that the Patient Protection and Affordable Care Act’s (ACA’s) individual mandate is unconstitutional. The Appeals Court is remanding the case to the U.S. District for the Northern District of Texas (District Court) for additional analysis on whether the individual […]
Read moreIRS Releases Final Forms and Instructions for 2019 ACA Reporting
Background Under the Patient Protection and Affordable Care Act (ACA), applicable large employers (ALEs) are required to offer health benefits to their full-time employees and individuals are required to have health insurance, although the penalty is $0 for individuals who fail to have minimum essential coverage starting in 2019. Reporting is required by employers with […]
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