Highlights The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans. Many of these limits will increase for 2019. In 2019, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts. Overview Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. […]
Introduction HSAs (Health Savings Accounts) and FSAs (Flexible Spending Accounts): Are both accounts designed to help employees put aside money to pay for extra medical expenses on a pre-tax basis, both have rules around maximum contributions and permissible distributions, and both have remarkably similar sounding acronyms. However, the similarities for the most part, stop here. […]
November 16, 2018 – (Daytona Beach) . . . Brown & Brown, Inc. (NYSE:BRO) today announced the completion of the previously-announced acquisition of Hays Companies (“Hays”) by Brown & Brown, Inc. Brown & Brown, Inc. is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With Brown & Brown’s almost 80 […]
Yesterday, the IRS issued new guidance expanding tax deadline relief to taxpayers in California who were affected by wildfires, including an extension for filing Form 5500 for their employee benefit plans. The following California counties are included in the disaster relief area: Butte, Los Angeles and Ventura. Affected businesses with upcoming deadlines for filing 5500s […]
Hays Companies announced Abby Ferri has joined its Minneapolis operations as Vice President. She will be responsible for helping build the national construction practice through her experience and expertise in safety and risk management. “We are excited to have Abby join our growing construction division at Hays,” said Tim Boberg, President of Property and Casualty-Minneapolis. “She […]
Hays Companies is delighted to announce that we have been named a 2018 Elite Agency by Insurance Business America (IBA). This is the second consecutive year we have received the honor. The Elite Agency designation is awarded to the Top 35 brokerage firms across the country, who in 2017 achieved at least $25 million in […]
The January 31st W-2 deadline will be here before you know it, and there’s a lot your team needs to prepare between now and then. There are employee health and wellness benefits to keep in mind, much of which is outlined in the IRS’s 2018 General Instructions for Forms W-2 and W-3. Below are the […]
The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for defined contribution and defined benefit plans for tax year 2019. These items were detailed in Notice 2018-83. Highlights of Changes for 2019 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings […]
Overview On Oct. 23, 2018, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a proposed rule that would expand the usability of health reimbursement arrangements (HRAs). Effective in 2020, the proposed rule would: Allow HRAs to be used to reimburse the cost of individual market premiums on a […]
2018 marks the fourth year for which Applicable Large Employers (ALEs) must report offers of health coverage to full-time employees to the IRS on Form 1094-C, and provide Employee Statements (Form 1095-C). The deadline for providing Form 1095 to employees is January 31, 2019. Employers must file Form 1094-C and copies of Form 1095-C by […]