Employer action is required if you maintain a self-funded plan and/or a standalone Health Reimbursement Arrangements (HRA) associated with a fully insured and/or self-funded plan. If you have a fully insured health plan and do not have an HRA, you may disregard, as the insurance carrier is responsible for this reporting. As a reminder, the ACA […]
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Memorial Day
In remembrance of the sacrifices made by those who lost their lives in the service of our country and to thank those who are currently serving our country, including their families, Bim Group will be closing at 3pm on Friday, May 25th and will reopen on Tuesday, May 29th.
Read moreWebinar Alert: What Employers Need to Know about Filing Form 5500
Join us for our monthly webinar on Tuesday, May 15, 2018 at 2:00 p.m. ET / 11:00 a.m. PT Register here. This webinar will provide an overview of the Employee Retirement Income Security Act (ERISA) Form 5500 requirements, including whether an employer/plan sponsor must file and what to do if an employer/plan sponsor fails to file. The […]
Read more$6,900 Re-Established as 2018 HSA Contribution Limit for Certain Individuals
The Internal Revenue Service (IRS) has re-established $6,900 as the 2018 health savings account (HSA) contribution limit for individuals with family coverage under a high deductible health plan (HDHP). This limit was previously announced as $6,900 in May 2017, but was revised to $6,850 in March 2018 due to an inflation adjustment provision in the Tax Cuts and Jobs […]
Read moreMarch 2018 Compliance Recap
March 2018 March was a quiet month in the employee benefits world. The Internal Revenue Service (IRS) released a bulletin that lowered the family contribution limit for health savings account (HSA) contributions. The U.S. Department of Labor (DOL) updated its model Premium Assistance Under Medicaid and the Children’s Health Insurance Program notice (CHIP notice). The […]
Read more2018 Annual Benefit Plan Amounts *Updated
If you would like a printable version of this guide, please email info@bimgroup.us and we will gladly forward one to you. Contribution & Benefit Limits 2017 Limit 2018 Limit Section 401(k), 403(b), or 457(b) annual deferral $18,000 $18,500 SIMPLE plan annual deferral $12,500 $12,500 Section 415 maximums Annual benefit from defined benefit plan $215,000 $220,000 Annual additions to […]
Read moreKentucky’s Best Bet Winners Announced!
LEXINGTON, Ky. (March 8, 2018) — Business growth throughout Kentucky is critical to the continued expansion of the state’s economy and vital to job creation throughout the commonwealth. In conjunction with The Lane Report, Dean Dorton is proud to recognize the distinct and esteemed companies that are impacting Kentucky’s economic development through Best Bets 2017! The Best Bets […]
Read moreFebruary Compliance Recap
February 2018 February was a quiet month in the employee benefits world. The Internal Revenue Service (IRS) updated its Questions and Answers about Information Reporting by Employers on Form 1094-C and Form 1095-C, its Questions and Answers on Information Reporting by Health Coverage Providers, and its Questions and Answers on Employer Shared Responsibility Provisions Under […]
Read moreHSA Contribution Limits Have Changed!
2018 HSA Contribution Limits for Family Coverage Impacted Retroactively In March 2018, the IRS released Revenue Procedure 2018-10, which, for some tax-related formulas, adjusted the annual inflation factor from the Consumer Price Index (CPI) to a new factor called a “chained CPI.” This is retroactively effective to January 1, 2018. As a result of the […]
Read moreDon’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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