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Tag: employee 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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Are You Adopting a Section 125 Plan?

Do you take your role as a plan sponsor serious enough?  Of Course you do………. your at taxfreepremiums.com If you are a corporation you are required to adopt a board resolution and have on file when sponsoring a Section 125 Plan.  This is included in the document package for clients of taxfreepremiums in a signature…
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What Products are IRS Section 125 Eligible Expenses?

Often referred to as Cafeteria or IRS Section 125 a Premium Only Plan is an employee benefit plan that allows employees to select desired benefits from their employer’s benefit package, “cafeteria” style.  The real benefit of this type of plan is the tax favored treatment from the IRS if set up in accordance with Section…
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Healthcare Backlash: Should Businesses Drop Their Sponsored Healthcare Plans?

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? The companies that are saying that they are considering dropping their Employer Sponsored Healthcare Plans say that they would save money in administration costs, even if…
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Why You Should Consider Implementing An Employee Recognition Program

Employee recognition programs lead to more productivity. Consider cashing in on the benefits of implementing an employee recognition program.

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.