READ TIME: 4 MINUTES The IRS recently issued Revenue Procedure 2024-25 to announce the 2025 inflation-adjusted amounts that apply to health savings accounts (HSAs), excepted benefit health reimbursement arrangements (EBHRAs), and high-deductible health plans (HDHPs). The newly announced figures result in increases in the applicable limits for 2025, including the maximum contribution limit for an […]
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FAQs about the Patient Centered Outcomes Research Institute (PCORI) Fee
READ TIME: 10 MINUTES 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 PCORI fee applies to all plans that provide medical coverage to employees. Medical coverage includes preferred provider (PPO) plans, health maintenance organization […]
Read moreInflation Adjusted Penalties for Health and Welfare Plans
READ TIME: 5 MINUTES The Department of Labor (DOL) recently released a final rule providing the adjusted civil penalty amounts for certain health and welfare plan violations assessed after January 15, 2024. The Employee Retirement Income Security Act (ERISA) provides for the imposition of penalties for a number of plan-related failures or administrative errors and […]
Read moreApril 2024 Compliance Recap
READ TIME: 7 MINUTES In April, a ban went into effect for most non-compete clauses, and the Centers for Medicare and Medicaid Services (CMS) portal opened for RxDC reporting submissions due June 1, 2024. The Equal Employment Opportunity Commission (EEOC) released final regulations mandating how employers with 15 or more employees must handle accommodation requests […]
Read moreDo 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 […]
Read moreGroup 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 […]
Read moreTimely 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 […]
Read moreMarch 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. […]
Read moreWorkplace 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 […]
Read moreBim 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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