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BENEFITS SCOOP – DECEMBER 2016

2016 Election and Compliance Issues Republican candidate Donald Trump has been elected the 45th president of the United States, and Republicans have retained control of the Senate and the House of Representatives. Under President-elect Trump and the Republican-led houses of the U.S. Congress, it is likely that some changes will be made to the ACA …

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HR HIGHLIGHTS – DECEMBER 2016

IRS ISSUES RETIREMENT UPDATES Cost of living adjustments are coming, are you ready? The IRS recently published Notice 2016-62, which details the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2017 tax year. HIGHLIGHTS OF LIMITATIONS THAT REMAIN UNCHANGED FROM 2016 The contribution limit for employees who participate in 401(k), …

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HR TOOLKIT – TERMINATIONS

INTRODUCTION Terminating an employee can be one of the most difficult parts of an HR professional’s job. Many HR professionals rush through the process in order to make it less painful; however, this is a big mistake. Having a termination process in place is just as important as creating a comprehensive onboarding program. Employers that …

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COMPLIANCE OVERVIEW

SECTION 105(H) NON-DISCRIMINATION RULES Let’s break down the Rules for self-insured health plans Internal Revenue Code (Code) Section 105(h) contains nondiscrimination rules for self-insured health plans. Under these rules, self-insured health plans cannot discriminate in favor of highly compensated individuals (HCIs) with respect to eligibility or benefits. The eligibility test looks at whether a sufficient number of …

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GET READY FOR ACA REPORTING DEADLINES

looking for IRS ACA Deadline Relief? Good luck! Last year, employers had extra time to complete their Section 6055 and 6056 reporting, thanks to transition relief from the IRS.  This year, it’s unlikely that the IRS will provide any relief from the normal deadlines. This means that employers will need to act quickly in order …

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SALARY-BASED HEALTH INSURANCE PREMIUMS

Breaking down Salary-based health benefits The facts behind how salary should impact your health benefit strategy. Employee health insurance premiums at most companies differ only by family size and type of plan (for example, deductible amount). At some companies, though, another factor is taken into account—salary. Meaning that employees who earn less, pay lower insurance …

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FORMS 1095-C DUE TO FULL-TIME EMPLOYEES BY JANUARY 31, 2017

got 1095-c? Due Date looming… Everything you need to know about distributing your 1095c Under the Affordable Care Act, applicable large employers (ALEs)-generally those with at least 50 full-time employees, including full-time equivalent employees, in the preceding calendar year-must report certain information to their full-time employees and the Internal Revenue Service (IRS) about the health care coverage …

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APPLICABLE DOLLAR AMOUNT USED TO DETERMINE PCORI FEE ADJUSTED TO $2.26

HOW DOES THE NEW PCORI FEE ADJUSTMENT AFFECT YOUR BUSINESS? LEARN ABOUT THE NEW PCORI FEE AND WHAT IT COULD MEAN TO YOU. The Internal Revenue Service (IRS) recently issued guidance that increases the applicable dollar amount used to determine the Patient-Centered Outcomes Research Institute (PCORI) fee, for plan years that end on or after October 1, …

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