Practical HR Tips, News & Advice. Updated Daily.
It’s a common misconception that the Affordable Care Act (ACA) mandates that large employers provide health insurance for employees. The regulations actually don’t mandate that; instead, the regulations state that employers make a choice: They can choose to offer coverage that meets at least the minimum standards OR they can choose to pay a penalty. […]
By Gerry Leonard, President, ADP® Benefits Services As employers increase their investment in benefits technology, HR leaders may want to look at workplace benefits and related technology through the prism of the four ‘C’s: Consumerism, Compliance, Cost and Culture.
Health care benefit cost increases at large employers are expected to hold steady in 2016, due in large part to changes employers are making to their benefit programs.
The Pension Benefit Guaranty Corporation (PBGC) announced new final rules for reportable events, focusing on the minority of plans and sponsors that pose the greatest risk of defaulting on their financial obligations.
Employers will need to do ACA reporting for this year, including forms 1094 & 1095. What options (e.g. software) does the employer have to for reporting? (Currently I use Quickbooks to submit my W2 forms.)
By Richard Shaffer Younger workers place the same value on the same benefits as your older workers. Yet research shows there’s a huge discrepancy between what this large-and-growing workplace group wants—and what their employers think they want. (Source: Employee Benefit News Blog).
Plan design can help employer plan sponsors avoid the objectionable task of paying excise taxes on health plan coverage they provide to employees. The Cadillac tax is the Affordable Care Act’s way of taxing health benefits, in part to fund the law’s ambitious coverage objectives. As liability under the tax in 2018 approaches, employers are […]
Qualifying longevity annuity contracts in 401(k) plans could significantly increase the retirement readiness of younger workers with longer life expectancies, the Employee Benefit Research Institute reported recently. Modeling two scenarios involving the recently approved QLACs, EBRI found that, while the general population might experience a “small reduction” in retirement readiness by purchasing a QLAC with […]
The U.S. House of Representatives in a voice vote on Sept. 28 unanimously approved H.R. 1624, the Protecting Affordable Coverage for Employees Act, which would redefine small employer as having 50 or fewer employees and give states the option of expanding the definition to include employers with up to 100 employees. The previous definition had been groups […]
The Health Insurance Portability and Accountability Act (HIPAA) imposes requirements to protect and help consumers maintain both their health insurance and their privacy. Some of the main provisions include: