Articles

HSA Eligibility with Prior Plan Year’s Health Care FSA

By |2019-01-17T09:08:16+00:00January 17th, 2019|News|

To establish and contribute to a Health Savings Account (HSA) an employee cannot have a standard Health Care Flexible Spending Account (HCFSA) because of IRS regulations on benefit coverage. But what if an employee participated in a standard HCFSA in their previous plan year? Can they participate in a HSA in their new plan

Health Savings Accounts (HSAs) and Medicare

By |2019-01-07T14:51:29+00:00December 10th, 2018|News|

Health Savings Accounts (HSAs) are accounts for individuals with high-deductible health plans (HDHPs). Funds contributed to an HSA are not taxed when put into the HSA or when taken out, as long as they are used to pay for qualified medical expenses. Your employer may oversee your HSA, or you may have an individual HSA that

Employee Benefit Plan Limits for 2019

By |2019-01-07T14:55:06+00:00December 10th, 2018|News|

Employee Benefit Plan Limits for 2019 Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to inflation-adjusted dollar limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and

Understanding Different Types of Life Insurance

By |2019-01-07T14:56:51+00:00November 12th, 2018|News|

Life insurance is one of the most common employer-provided benefits. This article covers the basics of life insurance and the different types employers can offer to employees. Types of Life Insurance Life insurance is divided into two categories: term and permanent (also sometimes referred to as whole). Term life insurance Term life insurance has

What Happens If I miss Open Enrollment?

By |2019-01-07T14:57:25+00:00November 12th, 2018|News|

An open enrollment period is a short period of time when you can enroll in or make changes to your employee benefits elections. Possible changes include adding or dropping coverage, adding or removing dependents, or enrolling in benefits for the first time. Open enrollment is your opportunity to take advantage of important benefits, such

Retiree HRA Reporting

By |2019-01-07T14:57:59+00:00October 15th, 2018|News|

Some reporting forms that may be useful to employers and health plan sponsors for their 2018 calendar year filing requirements are now available from the IRS. These forms are due in early 2019 with the first deadline on January 31, 2019 for the series. Health plan sponsors must verify that health plans provided Minimum

Employer Notices

By |2019-01-07T14:58:49+00:00October 15th, 2018|News|

One good check-in question for employers to ask themselves during Q4 is this: Have I provided all the necessary documents and notices related to health and welfare plans to our employees and plan participants? Employers are required to distribute some notices annually, while other notices must be provided to participants when the participants become

Medicare Part D Notices Due by October 15

By |2019-01-07T14:59:20+00:00September 10th, 2018|News|

Notices Due to Medicare-Eligible Individuals Employers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals are reminded that they must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals by October 15. This notice serves to inform Medicare-eligible individuals whether the prescription drug coverage offered is "creditable," meaning it

Continuation of Benefits (COBRA) in North Dakota (ND) VS. Federal Law

By |2019-01-07T14:59:46+00:00September 10th, 2018|Benefits|

North Dakota Continuation of Coverage North Dakota's continuation law generally allows employees of companies with fewer than 20 employees and their eligible spouses and dependents, who would otherwise lose group health insurance coverage due to certain qualifying events, to continue coverage under the current employer's group policy. To be eligible for continuation,

Enrollment Tip: Adding an HSA

By |2019-01-07T15:00:08+00:00August 16th, 2018|Benefits|

Employers can incorporate the Health Savings Account (HSA) as an added tax-saving benefit for their employees to offset rising health plan premiums, while also helping their employees become better health care consumers. But how can employers ensure their other health benefits "play nice" with the HSA this enrollment season? Here are a few compliance