Archive for Compliance News’ Category

Reporting Minimum Essential Coverage
Oct

7

2016

Reporting Minimum Essential Coverage

Minimum essential coverage (MEC) is the type of coverage that an individual must have under the Patient Protection and Affordable Care Act (ACA). Employers that are subject to the ACA’s shared responsibility provisions (often called “play or pay”) must offer MEC coverage that is affordable and provides minimum value.In the fall of 2015 the IRS issued Notice 2015-68 stating it was planning to propose regulations…

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Transitional Reinsurance (TRP) Contribution Form Due November 15
Oct

6

2016

Transitional Reinsurance (TRP) Contribution Form Due November 15

On October 3, 2016, federal officials posted the 2016 Transitional Reinsurance Program Annual Enrollment Contributions Form that health insurers and self-funded plan sponsors (employers) will use to make required payments under the Transitional Reinsurance Program (TRP). The 2016 report is due no later than November 15, 2016.BackgroundThe Affordable Care Act (ACA) prohibits insurers from rejecting applicants based on their health status or pre-existing conditions. To…

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Finally, a New I-9
Sep

29

2016

Finally, a New I-9

Since the current version of the Form I-9, Employment Eligibility Verification, expired on March 31, 2016, employers have been awaiting a new, updated form. On August 25, 2016, the federal Office of Management and Budget (OMB) approved a revised Form I-9. Consequently, the U.S. Citizenship and Immigration Services (USCIS) has 90 days to update the form and must publish a revised form by November 22, 2016….

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The FLSA Overtime Changes and Their Impact on Employee Benefits
Sep

22

2016

The FLSA Overtime Changes and Their Impact on Employee Benefits

Most employers should be reviewing payroll budgets and job descriptions to ensure that changes to salaries and job classifications are all in order by the December 1 deadline based on the new overtime exempt salary threshold and other final rule changes to the Fair Labor Standards Act (FLSA). Another area that will be impacted by these changes and needs review now is employee benefits.Review NowThis…

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IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers
Sep

8

2016

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers

Employers with self-insured health plans are facing new Section 6055 regulations regarding the reporting of minimum essential coverage. The proposed regulation requires self-insured employers to report this information to the IRS on either Form 1095-B or in Part III of Form 1095-C, if the coverage is provided by an applicable large employer.Section 6055 reporting identifies those individuals who are enrolled in minimum essential coverage. In order…

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Initial 2016 Health Plan Survey Results Are Out: PPO Deductibles Increase Fifty Percent, Employer Costs Remain Steady
Aug

24

2016

Initial 2016 Health Plan Survey Results Are Out: PPO Deductibles Increase Fifty Percent, Employer Costs Remain Steady

The 2016 UBA Health Plan Survey contains the validated responses of 19,557 health plans and 11,524 employers, who cumulatively employ over two and a half million employees and insure more than five million total lives. Of the preliminary findings, we see that employees continue to take on more cost for coverage. The median in-network deductible on an employer-sponsored PPO health plan (which nearly half of…

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Aug

19

2016

Flow Chart of Key Wellness Program Regulations

 A wellness program is any formal or informal program that educates employees about health-related issues, promotes following healthy lifestyles, or encourages employees to make healthier choices. Wellness programs vary greatly and are not always called wellness programs. Some are purely educational and have no financial incentives. Others have financial incentives that may take the form of reductions in the employee’s contribution for medical coverage, reduced…

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Aug

10

2016

Compliance Recap

July 2016 During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to the individual mandate and opt-out arrangements.UBA Updates UBA…

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It’s not that simple!
Aug

9

2016

It’s not that simple!

By Mathew Augustine, GPHR, REBC, CEO of Hanna Global Solutions, a UBA Partner FirmExit or remain, welcome refugees or build a wall to keep them out, guns or no guns, black or white, include all or be exclusive… the list of extreme positions that people are taking goes on and on. What is driving this sudden increase in polarized thinking in the world? The world…

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OSHA’s Final Rule on Electronic Tracking of Workplace Injuries and Illnesses
Jun

14

2016

OSHA’s Final Rule on Electronic Tracking of Workplace Injuries and Illnesses

Beginning in 2017, certain employers with as few as 20 employees at a single site will be required to electronically file information about employee injuries and accidents that occurred in the prior year. This means that, for many of your clients, injuries and illnesses occurring in 2016 will be subject to this change. Employers of as few as one employee have always been required, under…

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