WHO: Employers with 50 of more FTE’s (remember, that means full-time equivalents, NOT number of full-time employees) WHAT: File forms 1094-C and 1095-C. The IRS created draft forms so you may review the information you will be required to provide 1095-C, 1094-C, draft instructions. WHEN: “There is no filing requirement for 2014; employers may file…
DetailsThe jury is still out on the ROI of various wellness program strategies, measurability and time frame of results. Some studies show a reduction in the number and size of claims mainly as a result of disease management programs. While other studies show great protection against shock claims by instituting biometric screening, exercise programs and…
DetailsIt’s hard to say whether Hobby Lobby is becoming more famous or infamous as a result of the recent contraceptive decision. In addition, the political argument has been twisted in many interesting ways in the media. Although some media outlets report that Hobby Lobby will not cover contraception for it’s employees, the methods of contraception…
DetailsAs employers continue to look for ways to control the cost of group medical insurance, the topic of spousal coverage is coming up more frequently. Each company views the issue differently and will implement different strategies. Some strategies include: eliminating spousal coverage offering spousal coverage but requiring spouses with access to medical insurance through their…
DetailsThis is information you will need to know for reporting as a large employer under PPACA, also known as Obamacare, ACA and the Patient Protection and Affordable Care Act.
The answer to this question depends, as it always does, on the needs of your employees’ families. Certainly, an employee may save money on a monthly premium basis by covering children only under the dental and vision coverage through the medical insurance plan. However, there can still be gaps in coverage and the children will…
DetailsThe American Medical Association (AMA), Department of Health and Human Services (HHS) and multiple other involved entities are spending a great amount of time addressing our access to care issues as well as the cost of care. Telemedicine allows patients to connect with physicians over the phone, email and Skype to provide care faster, cheaper…
DetailsAlthough Health Care Reform has meant a lot of struggle, confusion and rising costs for employers, there are some positive cost implications of Obamacare that may be increasingly realized over time. For employers who don’t offer health insurance to employees, there is a higher frequency of reporting a work-related medical situation under Workers’ Compensation so…
DetailsBestefits helps employers to better serve their executive team by providing individualized time to examine their financial security. Most group benefit plans offer a standard level of life and disability insurance. However, standard life insurance amounts and disability maximums provide little financial protection to high earners. It is common to see basic group life insurance…
DetailsThe IRS released final regulations governing information reporting under Sections 6055 and 6056 for health plan coverage. This information will be used to determine if an applicable large employer owes Employer Mandate penalties if a full-time employee receives subsidized coverage through an exchange. These reporting requirements apply for calendar years after December 31, 2014 and…
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