The EEO-1 Component 1 report is a mandatory annual data collection that requires all private sector employers with 100 or more employees, and federal contractors with 50 or more employees meeting certain criteria, to submit demographic workforce data, including data by race/ethnicity, sex and job categories. The filing by eligible employers of the EEO-1 Component … Continued
We all know how confusing and complex benefits and healthcare terms can be- the difference between deductible and co-insurance is a common question for many and there are plenty of others like it. When you are comfortable and confident in how your plan works, you can make an informed decision on HOW to use and … Continued
Do you offer coverage to your employees through a self-insured group health plan? Do you sponsor a Health Reimbursement Arrangement (HRA)? If so, do you know whether your plan or HRA is subject to the annual Patient-Centered Research Outcomes Institute (PCORI) fee? This article answers frequently-asked questions about the PCORI fee, which plans are affected, … Continued
At this time of year, many employers and benefit advisors begin preparing Form 5500, the annual report required for most employee benefit plans. Form 5500 must be filed with the federal government within seven months after the end of the plan year. For calendar-year plans, that means the plan’s 2020 Form 5500 is due August 2, … Continued
Heartbreaks are painful, but did you know that heart disease is the leading cause of death in the United States, with more than 655,000 people dying from the condition each year. This equates to one in four deaths attributed to this awful disease. The most common form of heart disease is coronary artery disease (CAD), … Continued
WASHINGTON — The Internal Revenue Service today provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice 2021-31 PDF provides guidance for employers, plan administrators, and health insurers regarding the new credit available to them for providing continuation health … Continued
There have been important changes to the Child Tax Credit that will help many families receive advance payments starting this summer. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit (CTC) for tax year 2021 only. The expanded credit means: The credit amounts will increase for many taxpayers. The credit for … Continued
Summer is here and so many of us work hard to lose a few pounds before summer vacation but then get to our vacations and ‘’want to live it up!’’ The problem is that then we end up bloated and unhappy with those decisions. Vacation is supposed to be a time to relax and unwind … Continued
On May 10, 2021, the Internal Revenue Service (IRS) released Revenue Procedure 2021-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2022. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered by a … Continued
We have certainly been focused on improving our health this year. June is Men’s Health Month and provides a great opportunity to focus on some simple tips that men can follow to shore up their health. These five guidelines will not only assist with a man’s physical health, but also their mental health. Make Annual … Continued
