Last week, we talked about how some businesses are considering discontinuing their healthcare plans because of the Affordable Healthcare Act (AHCA). Would this decision benefit businesses or their employees? [read more...]

The federal government understands how the rising costs in health care affect families. It has looked to find ways to help businesses and individuals make health insurance more affordable. Tax exclusions for Employer Sponsored Health Insurance, coupled with Section 125 plans, are two ways that the government has tried to help cut health care costs. Some businesses, however, may stop offering health insurance benefits between now and 2014, when the Affordable Care Act will take full effect. [read more...]

The most progressive employers are turning to CDHP (Consumer Driven Health Plans) which are proven to make your participants better consumers.  The facts are clear, the Employee Benefit Research Institute recently released information stating that 15.7 Million adults are now enrolled on an HDHP that is HSA eligible.   With dependents that’s almost 33 million estimated enrollment including dependents participating who are eligible for Health Savings Accounts.   Yet only 30% of those enrolled have actually established an H.S.A account.   The success of a CDHP for most organizations is focused on three things: [read more...]

It’s no secret that the task of government compliance with programs such as IRS Section 125 Plans has most employers jumping through some hoops.  There Department of Labor lists one of many requirements to distribute certain documents such as a Summary Plan Description referred to as SPD.   But through all of this disclosure and required notifications is a HUGE opportunity to use this communication tool to craft your company culture. [read more...]

Payroll companies need to help their clients prepare for some changes to Section 125 Premium Only Plans that will pave the way for the Affordable Care Act (ACA). While it is true that the ACA doesn’t come into full effect for another two years, there are some portions taking effect in 2012 and 2013. It is important for payroll companies to stay abreast of these changes so that they can help their clients maintain Section 125 compliance. [read more...]

A Section 125 Plan is an employer-provided benefit where the employee can choose from a range of different benefits and pay for them with pre-tax dollars.  Section 125 refers to the Internal Revenue Code section that governs the administration of these plans.  They are also called “cafeteria” plans because, like a cafeteria, the employee has his choice from a full menu of different options. [read more...]

As Christmas approaches and the end of the year draws ever closer, people nation wide have finances on their mind; with commerce increasing as the Holiday rush sets in, renewal processes as insurance plans expire, and businesses seeking to fortify their finances for the coming year, the month of December is ever the commercial focal point for the majority of American commerce.  Amidst the hustle and bustle of the end-of-the year dealings, it’s important that employers of all business disciplines train a steady eye on their goals for the coming year.  Under the battery of economic predictions for the coming year pouring in from research organizations across the scope, employers and employees alike seeking productive new years resolutions should seriously consider committing to a goal we can all agree is important: securing and maintaining financial stability and integrity. [read more...]