IRS Extends Form 1095 Distribution Deadline to March 4 On Nov. 29, the IRS extended the deadline for employers to distribute 2018 Forms 1095-C to employees by 30 days—until March 4, 2019, instead of Jan. 31. The delay also applies to self-insured small employers, insurers and others issuing Form 1095-B to covered individuals. See the SHRM Online article IRS…
Some large employers are sidestepping health insurers and contracting directly with providers. A recent Willis Towers Watson survey found that only 6% of employers contract directly with providers now, but 22% are considering it for 2019. Can a small employer do the same? Yes. Here in Richmond, trusted provider Bon Secours had partnered with a third party…
With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area you may have overlooked: employee retention. Employee retention has a huge impact on your bottom line, and now is a great time to make some…
In late 2018, the IRS began issuing enforcement letters to employers with generally 50 or more full-time or full-time equivalent employees regarding their compliance with the employer shared responsibility rules under the Affordable Care Act (ACA) for the 2016 calendar year. These letters, known as Letter 226-J, inform employers of their potential liability for an…
The ACA imposes a dollar limit on employees’ salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. New Limit Amount In November 2018, the IRS increased the health FSA contribution limit from $2,650 to $2,700 for taxable…
The ACA Checklist highlights key requirements that could impact employers, including New Annual Cost-Sharing Limits, Information Reporting Deadlines, “Pay or Play” Penalties. You can access your checklist here.
Each year, once the dust of open enrollment settles, employers always ask, “What could we have done better?” The usual answer: employee communication. HR is in a unique position to talk about open enrollment because of their relation to employees and their extensive benefits knowledge. With this in mind, consider having HR distribute open enrollment communication…
Form Instructions Also Released The IRS has released the Forms 1094-C, 1095-C, 1094-B, and 1095-B that employers will use in early 2019 to report on the group health insurance coverage they offered during the 2018 calendar year. Instructions on how to complete Forms 1094-C and 1095-C and Forms 1094-B and 1095-B have also been released.…
Keeping Stress at Work in Check Helping your employees deal with stress in the workplace can ultimately lead to greater productivity as well as motivating employees to perform better. Stress can sidetrack employees and prevent them from doing their best. Stress at work may come from significant workload, pressing deadlines and time management issues. When…
Notices Due to Medicare-Eligible Individuals Employers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals are reminded that they must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals by October 15. This notice serves to inform Medicare-eligible individuals whether the prescription drug coverage offered is “creditable,”…
