The IRS recently released Revenue Procedure 2023-29, which declared that the Affordable Care Act (ACA) benchmark for determining the affordability of employer-sponsored health coverage will significantly decrease to 8.39% of an employee’s household income for the 2024 plan year.  This almost three-quarters of a percentage p... [read full post]

Over three years have passed since the start of the COVID-19 public health emergency in January of 2020. We have come a long way from the time of businesses being closed and mandatory quarantine periods. While we faced one of the most challenging times for our country, we also were able to show our resilience by working together to respond to – a... [read full post]

Each year, employers whose health plans include prescription drug coverage must disclose to the Centers for Medicare & Medicaid Services (CMS) whether that coverage is creditable. Employers must complete an online disclosure with CMS within 60 days after the beginning of the plan year, or March 1, 2023, for calendar year plans. This video explains further.

Whether an employer is considered an applicable large employer (ALE) that is subject to the pay or play rules is determined each calendar year, and generally depends on the average size of an employer's workforce during the prior year. For example, an employer will use information about the size of its workforce during 2022 to determine if it is an ALE for 2023.All e... [read full post]

The American Rescue Plan Act (ARPA), which is the latest bill to address the ongoing economic impacts of COVID-19, has been signed into law. Most aspects of the law do not directly affect the HR function, but those that do—optional extension of sick and family leave and establishment of COBRA subsidies—are outlined below.OPTIONAL EXTENSION OF SICK AND FAMILY LEAVE... [read full post]

Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs — either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15.PurposeMedicare began offering “Part D” plans â€... [read full post]

On May 20, 2020, the Internal Revenue Service (IRS) released Revenue Procedure 2020-32 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2021. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses.To be eligible for an HSA, a... [read full post]

Families First Coronavirus Response ActSince the enactment of the Families First Coronavirus Response Act on March 18, new information and guidance has been released every few days, though still much slower than employers would like. We have summarized what we believe to be the most relevant new information below. We will continue to update the HR Support Center m... [read full post]

Question:Can we extend a new employee’s probationary period? They aren’t meeting expectations yet.Answer:You can extend an introductory period, but I would recommend a different approach. I’d also advise against using the word “probationary.” I’ll explain both points.Extending the Introductory PeriodFirst things fi... [read full post]

Reporting Requirements Applicable large employers (ALEs), which generally are entities that employed 50 or more full-time and full-time-equivalent employees in the year before the reporting year, must report information about the health coverage they offered or did not offer to full-time employees. To meet this reporting requirement, the ALE furnishes Form ... [read full post]

The U.S. Department of Labor (DOL) has updated the model notice for employers to use to inform employees about the Children’s Health Insurance Program (CHIP). All employers with group health plans are required to distribute a CHIP notice at least once a year to employ... [read full post]

On November 29, 2018, the IRS released Notice 2018-94 to extend the due date for employers to furnish 2018 Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra month to prepare and distribute the 2018 form to individuals. The due dates for filing forms with the IRS are not extended... [read full post]

We offer an employee handbook builder through ThinkHR.  Please let us know if you have any questions.Top 10 Policies You Need in Your Employee Handbook:At-will employment: You can destroy the at-will employment relationship through promises made in an employee handbook. Including this policy reinforces the at-will nature of employment. It should also state that the... [read full post]

Summary plan descriptions (SPDs) are required for all retirement, health, and welfare plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). However, misconceptions about this requirement are widespread. ERISA attorney Stacy H. Barrow, partner with Marathas Barrow Weatherhead Lent LLP, had a chat with ThinkHR about the importance of having proper ERISA documentation... [read full post]

The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA).Applicable large employers (ALEs) will use the following:2017 Form 1094-C (transmittal to IRS).2017 Form 1095-C (statement to indiv... [read full post]