Insights - Page 2 of 73 - Bim Group

Recent Insights

Do You Know Where Your Employees Are? Managing Taxes for a Growing Remote Workforce

READ TIME: 5 MINUTES Remote work remains a growing focus of employers with employees increasingly seeking jobs that permit remote or hybrid work arrangements. Though the flexibility and benefits of remote work for employees is highly desired, it comes with some additional considerations and potential tax complications for the employer. State Income Tax Withholding Considerations […]

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Group Health Plan Guide to COBRA

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits due to job loss, reduction in hours, death, divorce, and other life events the right to choose to temporarily continue health benefits provided by their group health plan. This guide includes: Employers required to offer COBRA Plan types […]

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Timely Responses Required for Requests under HIPAA’s Right of Access Rule

READ TIME: 4 MINUTES On December 15, 2023, the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR), announced a settlement under the Health Insurance Portability & Accountability Act (HIPAA) Right of Access Rule. This penalty illustrates that the Right of Access Rule remains a focus of HHS and that health […]

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March 2024 Compliance Recap

READ TIME: 7 MINUTES ACA reporting is in its first year of the required electronic reporting for employers filing ten or more returns annually. Employers and employees must make changes to HSAs by the April 15 deadline. Employers of all sizes continued to prepare for the June 1 RxDC Reporting using the newly released instructions. […]

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Workplace Culture | Attracting and Hiring Veterans

READ TIME: 5 MINUTES Hiring veterans can address the challenges of a skilled labor shortage and diversify your talent pool. You can tap into veterans’ technical skills and leadership experience by adjusting your recruitment strategies to consider practical experience over academic qualifications. Why should you develop a more inclusive recruitment strategy for veterans? Veterans bring […]

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Bim Group named one of the 2024 Best Places to Work in Kentucky!

Bim Group is honored to be named a Best Place to Work (BPTW) in Kentucky for the 19th year in a row! It truly never gets old and 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 […]

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Insurers Are Not Obligated to Inform Terminated Employees of their Life Insurance Conversion Rights

READ TIME: 5 MINUTES A recent case in an Indiana federal court serves as a reminder to employers that insurers are generally not obligated to inform terminated employees of their conversion rights. In Estate of Maribeth Presnal v. Dearborn National Life Insurance Company et al (the “Presnal Case”), the district court affirmed that insurers do […]

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Webinar: Qualifying Events and Special Enrollment Periods ​

Tuesday, April 9, 2024 1 – 2PM CST Register Now Registration Code:UBA410EW   Attend this month’s webinar to learn how the Internal Revenue Service (IRS) regulates employee benefit contribution levels and the timing of enrollment elections. Gain insights into: The irrevocable nature of plan elections The tax-favored account enrollment changes allowed by the IRS​ ​Avoiding […]

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DOL Announces 2024 Penalties for Benefit Plan Compliance Errors

READ TIME: 5 MINUTES Since 2015, federal agencies have been required to annually review the laws and regulations they enforce to adjust applicable penalties for inflation. These adjustments, or so the theory goes, provide higher incentives for plan sponsors to ensure their benefit plans and programs remain compliant. Specifically, the U.S. Department of Labor (DOL) […]

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February 2024 Compliance Recap

READ TIME: 7 MINUTES February saw a potential industry-changing lawsuit against Johnson & Johnson and its plan fiduciaries asserting a breach of fiduciary duties and mismanagement of Johnson & Johnson’s prescription drug benefits program, costing its ERISA plans and employees millions of dollars in the form of higher payments for prescription drugs, as well as […]

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