Category: News

Internal Revenue Code (IRC) Section 4980I — the new Cadillac plan excise tax — could push health benefit plan administrators into bitter fights over which administrators actually have to pay the tax. The health insurance issuer will pay the tax for an insured plan, but the “person that administers the plan benefits” will pay the tax for […]

Overview: The Supreme Court’s recent decision that states are required to recognize as legal a marriage between two people of the same sex has lasting implications on employers that some industry experts are still deciphering. Here are 7 things employers need to know about the decision, according to Cherry Creek Benefits. 1) FMLA leave Same-sex […]

In his 2015 State of the Union Address last January, President Obama said employees should get the overtime they’ve earned. He then directed the U.S. Department of Labor (DOL) to review and amend the overtime rules under the Fair Labor Standards Act (FLSA) to make more workers eligible. On June 30, the DOL took steps […]

by Keith Kitani JUL 24, 2015 Commentary: It’s no secret that health care costs are rising. Higher priced plans impact everyone, both employer and employee, and breaking the news to your team is never easy.  How do you help your employees make the best choices for their particular situations and their pocketbooks while also managing […]

The IRS has provided both new and updated Q&A guidance on the reporting requirements for applicable large employers under the federal tax code. As background, beginning in 2016,  applicable large employers must file Forms 1094 and 1095 to provide information to the IRS and plan participants about health coverage provided in the prior year. The […]

In 2018 a 40% excise tax will be imposed on plan costs that exceed pre-determined dollar limits laid out by the Affordable Care Act. Employers and their benefit advisers have already begun to take steps to avoid or mitigate so-called “Cadillac” tax exposure. Here are eight strategies Wells Fargo Insurance Services suggests to ensure employers […]

The new reporting forms required under the Affordable Care Act’s employer mandate rules are not due until January 31, 2016, however, employers should be actively collecting the necessary data to fulfill this requirement. Recently, the IRS issued draft forms for use in 2015, which are substantially similar to previously issued forms. Under the Code, applicable […]

Here’s a brief compliance checklist that employers need to act. Though it’s by no means everything, it’s a start. • Businesses with 50 or more employees cannot fall into the trap of thinking that on Dec. 31, 2015, they can just reduce their employee roster to 49 FTE (full time equivalent). The IRS will be watching. • Review […]

The Affordable Care Act (ACA) added new employer reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056. These new requirements apply to employers that sponsor self-insured plans that provide minimum essential coverage (which includes employer sponsored coverage, COBRA coverage and retiree coverage) regardless of size, and applicable larger employers (ALEs). An ALE is […]

The divorce metaphor bears fruit yet again when it comes to the employment relationship. To this mix I add the concept of “no fault” divorce and the reasons employment ends. A “no fault” divorce permits a spouse to end a marriage for any reason or no reason at all — its label accurately advertises its […]