Form 5500 is used by employers or pension or welfare benefit plan administrators to satisfy annual reporting requirements under ERISA and the Internal Revenue Code. The form requires information about the qualification of the plan, its financial condition, investments and operations. And if it’s not filed on time, the fines can add up: The IRS
Flexible Spending Accounts (FSAs) can be a valuable way for employees to set aside pre-tax dollars to pay for certain out-of-pocket healthcare expenses. But unlike Health Savings Accounts (HSAs), the unused funds generally don’t roll over from year to year unless your plan’s design allows for a carryover of up to $500. To help your
Millions of Americans have HSAs. Here are three things you can do as an employer to help employees make the most of their HSAs.
Every year, the Society for Human Resource Management (SHRM) administers an Employee Benefits Survey to gauge what benefits companies are offering. According to this year’s report, a third of employers increased their benefits offerings in the past twelve months.
Large employers are required to provide affordable coverage under the ACA employer mandate to provide minimum value to full-time employees and their dependents. Learn about threshold increases in our latest news alert.
Health care costs show no signs of slowing down. And since they’ll eat up a big chunk of a retirement budget, some workers are even opting to delay retirement to have more time to save. But as an employer, you can put retirement in reach by helping workers prepare with a Health Savings Account and/or 401(k).
After the Tax Cuts and Jobs Act was enacted, the maximum contribution limits for Health Savings Accounts for family coverage were lowered, but the original limit has been reinstated.
“Onboarding” is the process of transitioning new employees into your organization, including how you go about introducing them to your culture, policies, procedures and team. Beyond making a great first impression, effective onboarding has been shown to increase staff retention and enhance productivity by giving new hires the opportunity to learn, ask questions and understand
Allows Health Reimbursement Benefits Without Having to Install a Group Health Plan Thanks to a recently enacted provision in the 21st Century Cures Act, companies are now allowed to use Health Reimbursement Arrangements (HRAs) to compensate employees who buy their own insurance. This new law is especially good news for small and mid-size businesses who
The 21st Century Cares Act, signed into law by President Obama earlier this month and effective January 1, features a variety of healthcare provisions, including one that will boost the healthcare reimbursement benefits that small businesses can offer to their employees. The new law provides exemptions for eligible small employers and allows them to fund