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Tag: cost cutting benefits

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ERISA & SPD Wrap or Summary Plan Description Wrap Documents

Recently we joined forces with a company to assist in additional forms of compliance.  These compliance issues fall directly in line with the rumors of the ERISA DOL Audits.  HR Service Inc and ERISA Solutions are those companies.  The professional atmosphere, experienced employees, and customer service-oriented environment is appealing; yet the powerful and user-friendly tools/documents…
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PROPOSED CHANGES TO CAFETERIA PREMIUM ONLY PLAN ELECTIONS & LOOK-BACK PERIOD

In September the IRS issued two notices regarding the Affordable Care Act.  Notice 2014-49 describes a proposed approach for applying the look-back measurement method used to determine full-time employee status for purposes of IRS Code § 4980H in situations when the measurement period applying to an employee changes. This change may occur because the employee…
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125 POP Document Changes Summary

As explained below, the laws governing Section 125 Premium Only Plans recently changed. We have updated your plan documents to reflect these changes. Please log on to your account at https://www.taxfreepremiums.com/main/login and download the newly updated documents to remain in compliance. The new IRS Notice 1455 creates two new Section 125 mid-year qualifying events designed…
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Have You Prepared for ACA “Obamacare”

While the passage of the affordable care act “Obamacare” celebrated its 3rd anniversary, many individuals and even small business owners are still wondering what the actual effects are on them. Well it depends……… Almost every situation and options will be treated uniquely depending on the state you live in and the employment arrangement with staff.…
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Why curbing benefits should not be the first cost-cutting action taken…

With the economy continuing to be in a precarious position, and unemployment figures equally pessimistic, many companies are looking for ways to cut costs in order to shelter themselves from these difficult economic impacts.