February had relatively little activity in the employee benefits world because a new Secretary of the Department of Health and Humans (HHS) was recently confirmed and HHS started its rulemaking under the new administration. On February 10, 2017, the U.S. Senate confirmed Rep. Tom Price as the new Secretary of HHS, who has a budget […]
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ACA Reporting Changes – What You Need to Know
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 […]
Read moreCompliance Recap // September 2016
September was not a very active month for administrative rulemaking in the employee benefits world. The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) extended the public comment period for the proposed Form 5500 annual return/report revision. The IRS issued rules defining terms relating to marital status and setting […]
Read moreCompliance Recap // July 2016
During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to […]
Read moreInterim Final Rule Updating the Penalties for Certain ERISA Violations
On July 1, 2016, the Department of Labor (DOL) issued an interim final rule, effective August 1, 2016, to adjust the amounts of civil penalties as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. In order to improve the effectiveness of civil monetary penalties, maintain their deterrent effects, keep pace […]
Read moreSeats are filling up fast! Sign up for this webinar today!!
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 nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]
Read moreCompliance Recap // August 2015
August was a generally slow month with a few important updates for the benefits industry. Notably the Internal Revenue Service (IRS) issued draft instructions for its reporting forms relating to the Patient Protection and Affordable Care Act’s (ACA) employer-shared responsibility requirements. The draft instructions, although generally unremarkable, did contain new language regarding reporting on health […]
Read moreCompliance Recap // July 2015
July brought the benefits industry increased fines relating to the Patient Protection and Affordable Care Act (ACA) as well as some much-anticipated updates and information on a variety of subjects. A trade bill passed in early July increased penalties for employers that fail to file IRS forms relating to the ACA’s play or pay provision, […]
Read morePotential Employer Penalties under the Patient Protection and Affordable Care Act
Employers that do not meet the requirements of the Patient Protection and Affordable Care Act (PPACA) need to be concerned about several potential penalties. Two significant penalties include the excise tax, which can be as much as $100 per affected individual per day, and the penalties that larger employers must pay if they do not […]
Read moreLast Chance to Register! Seats are filling up! Penalties, Taxes, and Fines, Oh My! 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 nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]
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