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In today’s war for talent, the power unequivocally lies in the hands of the candidates. As a result, expectations for workplace benefits are rapidly shifting. Employers recognize that attractive benefit plans are critically essential to engage and retain a competent workforce, but rising costs (usually in the group health sphere) can be cost-prohibitive, hindering an organization’s ability to rework their offerings substantially.
Employee Benefits can be complicated, but it’s essential that they’re understood. It’s why human resources departments are always on the lookout for new forms of communications—for benefits to be chosen and implemented successfully, employees need to know the ins and outs of their offered healthcare plans and retirement options. Text messages allow HR departments to […]
The Family and Medical Leave Act (FMLA) has been around since 1995. On February 6, 2013, the United States Department of Labor (DOL) published final regulations that expanded the protections under the FMLA. Although many employers understand the job protection aspect of FMLA, protecting and maintaining employee welfare benefits during FMLA leave can be just […]
The Hays Research and Compliance Team has assembled a quick reference guide for 2018 calendar year reporting. This guide is specifically relating to 2018 ACA Employer Reporting Requirements. Section 6055 & 6056 Reporting Non-ALEs sponsoring insured plans are not required to report under either Section 6055 or Section 6056 Forms Forms 1094-A & […]
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. […]
To view the 2019 w-2 guidelines, please click here. 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 […]
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 was another eventful year for Employee Benefits and Compliance. Presented by the Hays Benefits Research and Compliance Department, this recorded webinar is an opportunity to get ready for 2019 and ensure you are in compliance with the new laws and changes for the upcoming year. Topics include: What to do if you get a […]