The U.S. Department of Labor (DOL), announced a new final rule that clarifies how to calculate an employee’s regular wage rate under the Fair Labor Standards Act (FLSA). The final rule became effective on Jan. 15, 2020. Calculating the regular rate is an essential first step when determining an employee’s overtime compensation. Under the FLSA,…
The federal spending bill signed into law at the end of 2019 repealed three taxes and fees under the Affordable Care Act (ACA): The Cadillac tax The medical devices excise tax The health insurance providers fee The Cadillac Tax The Cadillac tax is a 40% excise tax on high-cost group health coverage. Its effective date…
The same spending bill that repealed the Cadillac tax, the medical devices excise tax and the health insurance providers fee reinstated the annual Patient-Centered Outcomes Research Institute (PCORI) fees for the 2020-2029 fiscal years. As a result, specified health insurance policies and applicable self-insured health plans must continue to pay these fees through 2029. What…
