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Category: Employers
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IRS Releases Drafts of 2017 Forms 1094 and 1095 | PA Benefit Advisors
The IRS has released drafts of the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). It is expected that when the IRS releases final versions, the material will be virtually identical to the drafts. Applicable large employers (ALEs) will use the following: Draft 2017 Form 1094-C (transmittal…
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Employer Medicare Part D Notices Are Due Before October 15 | PA Benefit Advisors
Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs—either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15. Purpose Medicare began offering “Part D” plans—optional prescription drug…
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Breaking News: Costly Overtime Rule Struck Down | PA Benefit Advisors
On August 31, 2017, Federal District Court Judge Amos Mazzant overturned the Fair Labor Standards Act (FLSA) Final Overtime Rule that would have doubled the annual salary level to qualify for exemption from overtime from $23,660 to $47,476. The same judge issued an injunction stopping implementation of the final rule nine months ago, and the…
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DOL Guidance for Benefit Plans Impacted by Hurricane Harvey | PA Benefit Advisors
The U.S. Department of Labor has issued compliance guidance for benefit plans, employers and employees, and service providers who are impacted by Hurricane Harvey. The guidance generally provides relief from various ERISA requirements and time limits for entities in the disaster area. This follows the Internal Revenue Service (IRS) announcement extending certain filing dates, including…
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Separating Fact From Fiction When It Comes to Long-Term Care Insurance | PA Benefit Advisors
Few people are prepared to handle the financial burden of long-term health care. In fact, many people have a false sense of security when it comes to long-term care. Let’s separate fact from fiction: “Medicare and my Medicare supplement policy will cover it.” FACTS: Medicare and “Medigap” insurance was never intended to pay for ongoing,…
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July 2017 Compliance News | PA Benefit Advisors
Health Reform Update After many months of working on possibly repealing and replacing the Patient Protection and Affordable Care Act (ACA), it looks like Congress might be ready to throw in the towel for the time being. A revised plan to change parts of the ACA and restructure Medicaid alienated both very conservative Republicans and…
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What Is Comprehensive Medical Insurance? | PA Benefit Advisors
Comprehensive medical plans originated in the 1930s with industrialists Henry Kaiser and Dr. Sidney Garfield. Dr. Garfield, at Kaiser’s request, created a health plan to protect the workers of the Grand Coulee Dam. They expanded the healthcare plan in the 1940s to include Kaisers numerous shipbuilders. By the end of World War II, other employers…
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USCIS Releases Revised Version of Form I-9 | PA Benefit Advisors
On July 17, 2017, the U.S. Citizenship and Immigration Services (USCIS) announced the publication of a revised version of Form I-9, Employment Eligibility Verification. What Employers Need to Know Employers may use the new form, with a revision date of 07/17/17 N now. Using new form is mandatory on September 18, 2017 to avoid fines.…
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The Effects of Not Having Health Insurance on Personal Finances | PA Benefit Advisors
Insurance has become the method by which most Americans have their health-care costs paid. By paying a regular monthly bill for health insurance, the cost of expected health care events is spread out into even payments and the cost of major unexpected medical incidents is absorbed by insurance. Lack of health insurance can have a…
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What Is the Importance of OSHA in the Workplace? | PA Benefit Advisors
The Occupational Safety and Health Administration, or OSHA, was established in 1970 to encourage employees and employers to decrease workplace hazards. OSHA recommends that both parties cooperatively establish workplace-specific safety standards. The agency also establishes training programs for occupational safety and health personnel. Finally, OSHA oversees research to find new approaches to workplace safety and…
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