07 September

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Overview of Employer Responsibilities for Handling MLR Rebates

The Affordable Care Act's medical loss ratio (MLR) rules require group health insurance issuers to provide rebates if their MLR—the amount of health insurance premiums spent on health care and activities to improve health care quality—falls short of the applicable standard during a reporting year. Each year's rebates must be issued to plan sponsors by September 30 of the following year. As a result, plan sponsors should be looking for these rebates to arrive in the coming weeks. Employer Distribution The MLR rules provide that issuers must pay any rebates owed to persons covered under a group health plan to the policyholder,...

06 August

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Do your employees need a paycheck check-up?

Posted by Kelly Davis

in Small Businesses, Tax & Accounting

IR-2018-145, June 28, 2018 Taxpayers who owed additional tax when they filed their 2017 federal tax return earlier this year can avoid another unexpected tax bill next year by doing a “paycheck checkup” as soon as possible, according to the Internal Revenue Service. The Tax Cuts and Jobs Act, the tax reform legislation passed in December, made major changes to the tax law, including increasing the standard deduction, removing personal exemptions, increasing the Child Tax Credit, limiting or discontinuing certain deductions and changing tax rates and brackets. These far-reaching changes could have a big impact on the tax refund or balance due on...

06 August

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Involuntary Termination

Posted by Kelly Davis

in Small Businesses

Each step in the process of terminating an employee should be carefully executed. Each step must be carefully and thoroughly documented. If an employee is discharged for poor performance and later sues alleging discrimination, the employer will have a difficult time defending if the personnel file is devoid of any documentation of the poor performance over a reasonable period of time. Terminating an employee is a very sensitive matter, requiring careful communication and documentation to avoid potential lawsuits or other future problems. It is prudent to consult an employment law attorney or HR specialist before taking any specific steps should the...

05 August

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Medical Loss Ratio Rebates Coming Soon to Plan Sponsors

Posted by Kelly Davis

in Benefits, Small Businesses, Uncategorized

Overview of Employer Responsibilities for Handling Rebates The Affordable Care Act's medical loss ratio (MLR) rules require group health insurance issuers to provide rebates if their MLR—the amount of health insurance premiums spent on health care and activities to improve health care quality—falls short of the applicable standard during a reporting year. Each year's rebates must be issued to plan sponsors by September 30 of the following year. As a result, plan sponsors should be looking for these rebates to arrive in the coming weeks. Employer Distribution The MLR rules provide that issuers must pay any rebates owed to persons covered under a...

03 August

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IRS issues guidance on small business accounting method changes under Tax Cuts and Jobs Act

Posted by Kelly Davis

in Small Businesses, Tax & Accounting

R-2018-160, Aug. 3, 2018 WASHINGTON – The Internal Revenue Service issued guidance today on new tax law changes that allow small business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period to use the cash method of accounting. The Revenue Procedure outlines the process that eligible small business taxpayers may obtain automatic consent to change accounting methods that are now permitted under the Tax Cuts and Jobs Act, or TCJA. The TCJA, enacted in December 2017, expands the number of small business taxpayers eligible to use the cash method of accounting and exempts these small businesses...

10 July

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Keeping Your Employees Motivated This Summer

Posted by Kelly Davis

in Payroll, Small Businesses

Workplace Flexibility and Changes to Daily Routines May Help Keep Employees Focused The warm weather and eagerly anticipated outdoor activities of summer may take a toll on your workers' concentration. If you're noticing a lack of focus among your employees during this time of year, consider the following ideas to help keep them motivated: Encourage your employees to step outside for at least 15 minutes each day. Exposure to natural sunlight can prevent workers from feeling confined to the office during the warm summer months. Holding business meetings outside may also help to boost workers' morale. Change things up! Employees may become more...

10 July

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Suicide Education and Prevention

Posted by Kelly Davis

in Small Businesses, Wellness, Workforce Management

Suicide is a leading cause of death for Americans, but much like mental health in general, the topic rarely gets the attention it deserves. There is a stigma against discussing suicide and mental health in the United States that hinders meaningful conversation about the topic. Open dialogue is an important part of preventing these tragic deaths and establishing safety outlets for those in need. This HR Insights examines the rise of suicide in the U.S., provides general facts surrounding it and explains how employers can help curb this growing epidemic. Background Suicide is not a new issue. It has been among the...

09 July

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Detecting and Preventing Accounts Payable Fraud

Posted by Kelly Davis

in Small Businesses, Tax & Accounting

To a criminal exploring ways to steal from a business, the accounts payable department often looks like the equivalent of a poorly guarded cashbox. Any time money exits a business, it flows through accounts payable. At most companies, that makes this function the most vulnerable and attractive opportunity for thieves both inside and outside the business. The frauds involving accounts payable are numerous, but perhaps the most common occurs when accounts payable employees write checks to fictitious suppliers, then have them mailed to a post office box to be picked up and cashed later. If detected, this crime is simple to...

04 June

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Federal Workplace Poster Requirements–Download Available

Posted by Kelly Davis

in Small Businesses

Now you can download your required 2018 federal workplace posters from HR360's convenient Federal Workplace Poster Requirements guide. This simple tool provides guidelines on which employers must display the posters, and posters can be downloaded by simply clicking on the special links in the chart. Federal Workplace Poster Requirements--Download Here SIMA's partner, HR360, offers a convenient, easy-to-understand guide which includes: Minimum Wage Poster OSHA Poster FMLA Poster Workers with Disabilities Poster Polygraph Protection Poster You can also customize a PDF version of the Federal Workplace Poster Requirements by first logging into your HR360 Admin System and clicking on Admin Toolbar > Apps > PDF Checklists & Guides. If you have...

04 June

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How Summer Hires May Impact ALE Status

Posted by Kelly Davis

in Benefits, Small Businesses, Tax & Accounting

Employers May Apply a Reasonable, Good Faith Interpretation of the Term 'Seasonal Worker' Employers looking to hire seasonal workers this summer are reminded that there is an exception when measuring workforce size to determine whether they are an applicable large employer (ALE) subject to the Affordable Care Act's employer shared responsibility ("pay or play") provisions. What Is 'Pay or Play'? The pay or play provisions require ALEs—generally those with at least 50 full-time employees, including full-time equivalent employees (FTEs)—to offer affordable health insurance that provides a minimum level of coverage to full-time employees (and their dependents) or pay a penalty tax if any...

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