An employer that offers minimum essential coverage to substantially all of its full-time employees may still owe penalties if the coverage it offers is inadequate because it is not “affordable” or it does not provide “minimum value.” It also may owe penalties on the employees it does not offer coverage to who receive a premium … Continued
According to the 2015 UBA Health Plan Survey, fewer employers are offering bonuses to waive coverage, but for those that do, the bonus amount is on the rise. Only 2.9% of employers offered a bonus to employees to waive medical coverage in 2015, a 17.1% decrease from 3.5% two years ago. The average annual single … Continued
Posted by: Bill Olson As a result of the Patient Protection and Affordable Care Act (ACA) triggering cost increases for fully insured employer-sponsored health insurance plans, more employers are moving to a self-funded model for pharmacy plans, particularly among large employers (1,000+ employees), according to data released from the 2014 United Benefit Advisors (UBA) Health … Continued
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors On February 18, 2015, the Internal Revenue Service (IRS) issued Notice 2015-17. This Notice addresses employer payment or reimbursement of individual premiums in light of the requirements of the Patient Protection and Affordable Care Act (PPACA). For many years, employers were permitted to reimburse premiums … Continued
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors Beginning in 2018, plans that provide coverage that exceeds a threshold will owe an excise tax that is frequently referred to as the “Cadillac tax.” The threshold generally will be $10,200 for single benefits and $27,500 for benefits provided to an employee, retiree, or member … Continued
By Bill Olson, Chief Marketing Officer at United Benefit Advisors On December 10, 2014 the IRS released the optional standard mileage rates for 2015. Beginning on January 1, 2015, the standard rates for the use of a car, van, pickup or panel truck are: 57.5 cents per mile for business miles, up from 56 cents … Continued
By Bill Olson, Chief Marketing Officer at United Benefit Advisors Our recent blog reviewed the highlights of the new employer and insurer reporting requirements. UBA has created this quick reference chart to help you sort out who should use which form, and when: For comprehensive information on coverage requirements, due dates, special circumstances, controlled groups … Continued
While the year is still young, here are 15 New Year’s resolutions that employers may want to make: Make sure your “independent contractors” are really independent contractors. “Independent contractors” are under scrutiny by the Internal Revenue Service, the U.S. Department of Labor, the National Labor Relations Board, state and local agencies, plaintiffs’ lawyers, and union … Continued
It’s that time of year to look back on your workplace illnesses and injuries for 2014, ensure that you have recorded the correct information in your OSHA logs, and post the information in your workplace starting February 1, 2015. Do you need to comply with this posting requirement, even if you’ve had no injuries or … Continued
Yesterday, the Internal Revenue Service (IRS) released Notice 2015-2 providing guidance on the retroactive transit benefit increase recently enacted by Congress. Employers that offered a commuter or transit benefit plan in 2014 must comply with the guidance if their 2014 plan had provided both pretax and aftertax benefits. No action is required, however, for employers … Continued
Two Radnor Corporate Center
Suite 110
Radnor, PA 19087
610-567-0175
800-527-3615
