Entries by Becky Stidham

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 […]

Understanding Different Types of Life Insurance

Life insurance is one of the most common employer-provided benefits. This article covers the basics of life insurance and the different types employers can offer to employees. Types of Life Insurance Life insurance is divided into two categories: term and permanent (also sometimes referred to as whole). 1. Term life insurance 2. Whole life insurance […]

DOL Increases Penalties for Health Plan Violations

On July 1, 2016, the Department of Labor (DOL) issued an interim final rule that increases the civil penalty amounts that may be imposed under various federal laws, including the Employee Retirement Income Security Act (ERISA). The interim final rule increases the civil penalty amounts associated with: Failing to file an annual form 5500 (as […]

Senate Passes ACA Small Group Market Rule Repeal

The U.S. Senate on October 1, 2015 passed legislation repealing the Affordable Care Act (ACA) requirement that the small group market in every state be expanded to include businesses with 51 to 100 employees. The Protecting Affordable Coverage for Employees (PACE) Act was passed by the U.S. House of Representatives earlier in the week. It has […]

Do you feel like you are paying too much for health insurance?

We can help! Clark & Associates and Solutions At Work teamed up to offer Professional Employer Organization (PEO) solutions to give business owners like you not just administrative relief, but also comprehensive employee benefits. What does a Nevada PEO have to do with health insurance? PEOs are able to group their clients together, which gives […]

Know Your Benefits: Understanding Voluntary Benefits

You know the importance of having health care coverage and a 401(k), but are you taking full advantage of all the benefits? Voluntary benefits are additional benefit options offered through the company. Unlike traditional benefits like Nevada health insurance, employees are responsible for paying most or all of the cost of these voluntary options. What’s […]