Entries by Becky Stidham

CONGRESS CLEARS PATH FOR ACA REPEAL

OVERVIEW On Jan. 13, 2017, the U.S. House of Representatives passed a budget resolution for fiscal year 2017 to begin the process of repealing the Affordable Care Act (ACA). The budget resolution—which was approved by the U.S. Senate on the preceding day—does not, itself, repeal the ACA. However, any budget reconciliation bill drafted as a […]

Protecting Your Interests: Understanding Worker’s Compensation Employee and Employer Perspectives

Apart from salaries, employee benefits are the largest employee-related expense most businesses pay. The important thing to understand is that worker’s compensation isn’t a benefit. Under Nevada law, it’s a requirement for all companies with 1 or more employees. More importantly, it was designed to protect the interests of employees and employers equally. Under the […]

Lost Life Insurance Policies and Annuities – How to Find Them

A recent finding by Consumer Reports states that each year in this country about $1 Billion of life insurance policy benefits go unclaimed. For a cash-strapped and debt-burdened middle class, that’s quite a sum to leave in the pockets of our nation’s insurers. Fortunately for Nevadans, the Nevada Division of Insurance and the National Association […]

ACA COMPLIANCE BULLETIN

Final 2018 Notice of Benefit and Payment Parameters On Dec. 16, 2016, the Department of Health and Human Services (HHS) released its Final Notice of Benefit and Payment Parameters for 2018. This rule describes benefit and payment parameters under the Affordable Care Act (ACA), applicable for the 2018 benefit year. Updates standards included in the […]

Broker Insights – The Benefits Market Under President-Elect Trump

Presidential Republican candidate Donald Trump’s victory in the election, along with Republican majorities retained in both the Senate and House of Representatives, will likely have a significant impact on the employee benefits industry, as well as a number of compliance issues over the next four years. This piece provides an overview of some of the […]

Health FSA Limit Will Increase for 2017

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. On Oct. 25, 2016, the Internal Revenue Service (IRS) released Revenue Procedure 2016-55 (Rev. Proc. 16-55). Rev. […]

OSHA’S Anti-retaliation Rules Delayed Until Dec. 1

On May 12, 2016, the Occupational Safety and Health Administration (OSHA) issued a final rule requiring certain employers to electronically submit data from their work-related injury records to OSHA. OSHA also indicated its intention to publish this employer information on a public website. Fearing that the publicity of workplace injury and illnesses would motivate employers […]

FINAL FORMS FOR ACA REPORTING RELEASED

Final Forms for ACA Reporting Released The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. Forms 1094-B and 1095-B are used by entities reporting under Section 6055, including self-insured plan sponsors that are not applicable large employers (ALEs). Final 2016 versions of these […]