This blog post is compliments of HR Service, Inc. (www.HRServiceInc.com). To learn more about HR Service, Inc. contact your Team BIM representative today. The Patient Protect and Affordability Care Act (“PPACA”) imposed strict, somewhat confusing reporting requirements last year which proved to be challenging for many organizations. In this bulletin, we focus on recent and […]
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2016 Election Results: The Potential Impact on Health and Welfare Benefits
Following the November 2016 election, Donald Trump (R) will be sworn in as the next President of the United States on January 20, 2017. The Republicans will also have the majority in the Senate (51 Republican, 47 Democrat) and in the House of Representatives (238 Republicans, 191 Democrat). As a result, the political atmosphere is […]
Read moreFinal Regulations Regarding Short-Term Limited-Duration Insurance, Excepted Benefits, and Lifetime/Annual Limits
On October 31, 2016, the U.S. Department of the Treasury, Department of Labor (DOL), and Department of Health and Human Services (HHS) (collectively the Departments) issued final regulations regarding the definition of short-term, limited-duration insurance, standards for travel insurance and supplemental health insurance coverage to be considered excepted benefits, and an amendment relating to the […]
Read moreIRS warns of fake Affordable Care Act forms
The IRS has recently warned that fraudsters have been sending fake tax bills on what purports to be an Affordable Care Act notice CP2000. In addition to alerting employees about this particular scam, you may want to use this opportunity to start reminding employees about other tax-related fraud as tax season approaches, particularly about W-2 […]
Read moreThe ACA deadline is approaching FAST!! Are you READY?
Have you decided how you will handle ACA reporting? If not, time is running out! Most third party vendors have a 10/31 or 11/1 deadline for new service. Reporting is due to employees by 1/31/17! No extension as of today. If you need assistance or have questions, contact your BIM representative today!
Read moreEnforcement Relief Extension for Higher Education Institutions Offering Student Premium Reduction Arrangements
On October 21, 2016, the Department of Labor (DOL), Department of Health and Human Services (HHS), and Department of the Treasury (Treasury) released an FAQ to extend enforcement relief for higher education institutions offering premium reduction arrangements to its students. Background The Patient Protection and Affordable Care Act (ACA) prohibits group health plans from having […]
Read moreTime is running out! Register now for the Team BIM Monthly Webinar!
Benefit Insurance Marketing is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nation’s leading employment and benefit law firms, Fisher Phillips. Best of all, you can take […]
Read moreCompliance Recap // August 2016
August remained relatively quiet in the employee benefits world, with only new draft versions of the instructions for Forms 1095-C, 1095-C, 1094-B and 1095-B. The new draft versions of the specific forms were released in July. The IRS also released the annual contribution limits for health savings accounts (HSAs) and the deductible minimums and out-of-pocket […]
Read moreSeats are filling up fast! Don’t miss out!
Benefit Insurance Marketing is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nation’s leading employment and benefit law firms, Fisher Phillips. Best of all, you can take […]
Read moreFlow Chart of Key Wellness Program Regulations
A wellness program is any formal or informal program that educates employees about health-related issues, promotes following healthy lifestyles, or encourages employees to make healthier choices. Wellness programs vary greatly and are not always called wellness programs. Some are purely educational and have no financial incentives. Others have financial incentives that may take the form […]
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