Please watch this great VIDEO to understand the large employer reporting requirements and how you must begin to prepare now. Remember, as a client of Bestefits, you have access to a system to help simplify this reporting. It is easy to use and MUCH less expensive than any other system on the market. Contact us…
DetailsA number of large employers in the retail, restaurant, agriculture, manufacturing and other predominantly low-wage employee industries have had to reduce employee hours in order to reduce their exposure to PPACA employer mandate penalties and the cost of offering employer-sponsored group medical insurance coverage. “In the first lawsuit of its kind, a proported class of…
DetailsThis is a question that is often asked by employers. The media tends to exaggerate the number of employers that currently use this tactic or are considering using this tactic in the future. I will highlight the main reasons employers consider this strategy as well as the pitfalls of employing such restrictions. However, I strongly…
DetailsWe are always looking for new ways to bring highly valuable, easy-to-use and cost-reducing resources to our clients. Bestefits clients with group employee benefits such as medical, dental, vision, life and disability, received an activation email containing login information for this incredible tool. The HR Compliance tool has sample HR forms, so you no longer…
DetailsAs employee benefits increase in cost, particularly medical insurance, companies innovate to bring new strategies to the employer marketplace. This can create exciting new opportunities but it also attracts those who are not always looking out for your company’s best interest or, perhaps worse, are not highly educated and experienced with the risks each strategy…
Details“In addition to forcing employers to grapple with potential increases in healthcare costs and tax penalties, the Employer Mandate poses additional risks if you are not careful in how you implement (and document) your compliance strategies.”
Employers that reimburse employees, whether pre- or post-tax, for individual medical insurance through an HRA or direct payment, please be aware that the IRS has posted several notices indicating that this is not an allowed strategy! In general terms, the IRS is granting reprieve for a number of employers through June 30, 2015 to make…
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