How the End of the COVID-19 Emergency Periods Will Impact Health Plans

The Biden Administration has announced its plan to end the COVID-19 national emergency and public health emergency (PHE) on May 11, 2023. Employer-sponsored health plans have been required to comply with certain coverage requirements during the COVID-19 emergency periods, including the following: Health plans must cover COVID-19 diagnostic tests and related services without imposing any…

2023 State Minimum Wage Rates

The current federal minimum wage rate is $7.25 per hour. However, several states have adopted minimum wage rates higher than the federal rate. When both the state rate and the federal rate apply, employers must pay their employees the higher rate. The following states have announced new minimum wage rates for 2023: Alaska Arizona California…

2022 Fourth Quarter Market Commentary

2023 is upon us and most investors are happy to bid 2022 adieu. It’s been a turbulent year, to say the least, with inflation, aggressive rate hikes, war, and significant losses across asset classes. Correlations between equities and fixed income turned positive, and investors felt the sting of losses in equities and bonds simultaneously. The…

IRS Announces 2023 Standard Mileage Rates

On Dec. 29, 2022, the IRS announced the 2023 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The 2023 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 65.5 cents per mile…

“SECURE 2.0” Act Becomes Law

On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, an omnibus bill that includes the “SECURE 2.0” legislation, referred to as such because it builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.   Key SECURE 2.0 provisions include: Expanding automatic enrollment in 401(k) and 403(b)…

2022 Year-End Technology Checklist

Our Chief Technology Officer, Kelly Davis, wants to ensure you wrap up 2022 knowing that your networks and hardware are secure for the near year! Check out his tips below: 1. Review your backup devices and services Business backup solutions are as simple as having an external hard drive connected or a cloud backup for…

DHS Extends Form I-9 Flexibilities

On October 11th, 2022, the U.S. Department of Homeland Security (DHS) announced it is extending updated flexibilities for Form I-9 due to the continued safety precautions related to COVID-19 until July 31st, 2023. Background Federal law requires every employer that recruits, refers for a fee, or hires an individual for employment in the United States…