Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has his or her own account, at least for bookkeeping purposes. Under the tax rules, amounts may be contributed to these accounts (with certain restrictions) and used for […]
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HR Elements: 8 Ways to Relate to Time as a Realist
Productivity and time management expert Julie Morgenstern believes people can be grouped two ways when it comes to time management: Time realists and time optimists. Time realists consider how long things take and what is going on in any given day. Time optimists are guided by what they hope to get done. Morgenstern argues that […]
Read moreAttention: Medicare Part D Notice
*If you provided participants and new hires with the annual notice packet provided by Bim Group or generated by HR Service in the last 12 months, the Medicare Part D notice is included in this packet so no additional action is required at this time. * What you should know: Medicare Part D is a federal […]
Read moreCompliance Recap – September 2019
September was a busy month in the employee benefits world. The U.S. Senate confirmed Eugene Scalia as the new Secretary of the Department of Labor (DOL). The Internal Revenue Service (IRS) published proposed rules regarding affordability safe harbors and Section 105(h) nondiscrimination rules as applied to individual coverage health reimbursement arrangements (ICHRAs). The IRS […]
Read moreUpdate on Tri-Agency Final Rules on Health Reimbursement Arrangements
On September 30, 2019, the Internal Revenue Service (IRS) published its proposed rules to clarify how the employer shared responsibility provisions and Section 105(h) nondiscrimination rules apply to health reimbursement arrangements (HRAs) and other account-based group health plans that are integrated with individual health insurance coverage or Medicare. Also, the Centers for Medicare and Medicaid […]
Read moreEmployee Spotlight: Jake Gregory
Meet Jake, Bim Group’s Senior Analyst, Underwriting and Data Analytics. Jake started out at Bim as an intern and has been with us ever since – almost 6 years now! Read the short interview below to learn more about him! Q: Could you briefly detail your work/education background? A: I began interning as a Financial […]
Read moreSummer 2019 Benefits and Employment Briefing
IRS Finds 23andMe Genetic Results are a Medical Expense The IRS Offers Additional Relief for HDHPHSAs: New Preventive Care Benefits for Certain Chronic Conditions Deadline for Distributing Medicare Part D Creditable Coverage Notice Is Approaching! How to Handle Court Orders Mandating Coverage to an Ex-Spouse New Opportunities for Health Reimbursement Arrangements IRS Finds 23andMe […]
Read moreWebinar: What Employers Need to Know about Open Enrollment
Tuesday, October 8, 2019 2:00 p.m. ET / 11:00 a.m. PT Register Now This webinar will discuss how employers should prepare for open enrollment by: Providing an overview of notices that employers should provide to employees during open enrollment, such as the Medicare creditable coverage disclosure Describing the requirements for electronic delivery of participant materials […]
Read moreGoing Where Others Fear to Tread: When COBRA and the FMLA Cross Paths
By Jennifer Stanley, In-house Counsel & Compliance Officer for iaCONSULTING, a UBA Partner Firm In some of my previous blogs, the foundation of the Consolidated Omnibus Reconciliation Act of 1985 (COBRA) continuation coverage was reviewed. Now that the groundwork has been laid, it is time to tread into the territories (or laws) where employers can lose their footing. […]
Read moreHR Elements: Preventing and Beating Burnout
Burnout. It’s something people might joke about after a particularly stressful stretch at work or post memes about on Instagram. It’s also a very real phenomenon first described in 1974 and, per a recent article by the BBC, a potential work hazard thanks to a reclassification by the World Health Organization. Forbes reports that this […]
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