Benefit Education: Going Beyond Open Enrollment

2019-05-14T08:51:16-05:00May 14th, 2019|News|

It’s the time of year where open enrollment is well behind us and probably isn’t top of mind until we have to start preparing again for next year. This is great time to reflect and ask ourselves: How many employees truly understand the benefits choices they have made? Most employees do one of two

ERISA Compliance: DOL Plan Document and SPD Requirements

2019-04-09T11:35:23-05:00April 9th, 2019|News|

When it comes to ERISA compliance, many employers have misconceptions surrounding when they must have plan documents and SPDs for benefits they sponsor, who is responsible for creating documents and SPDs and what information must be provided to employees and when. Myth #1 The Affordable Care Act (ACA) requires the Plan Document and SPDs. This is not true. Although some

HSA Contributions with Delayed HSA Eligibility

2019-04-09T11:26:33-05:00April 9th, 2019|News|

If an employee participated in a standard health Flexible Spending Account (FSA) in their prior plan year and is looking to contribute to a Health Savings Account (HSA) in their new plan year, if and when they can open and contribute to the HSA may be impacted. Employees with a $0 balance at the

ERISA Compliance Q&A

2019-03-12T10:26:50-05:00March 12th, 2019|News|

When it comes to ERISA compliance, there are many misconceptions and questions surrounding plan document and SPD requirements. To help answer some of these questions, we have compiled a Q&A: Q: I am an employer with less than 100 participants, will I be subject to ERISA plan document and SPD requirements? A: Yes, regardless

HSA Eligibility with Prior Plan Year’s Health Care FSA

2019-02-28T14:41:48-05:00January 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

2019-02-28T14:52:57-05:00December 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

Retiree HRA Reporting

2019-02-28T15:06:47-05:00October 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

2019-02-28T15:13:08-05:00October 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

Enrollment Tip: Adding an HSA

2019-02-28T15:22:12-05:00August 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

Health Care FSA Expense Facts

2019-02-28T15:23:02-05:00August 16th, 2018|Benefits|

When does a Health Care Flexible Spending Account participant incur a medical expense? And why does the date matter? Medical Expense Incurred For the purposes Health Care Flexible Spending Accounts (Health FSA), the day that an employee receives medical care is when the medical expense is incurred. It is not necessarily the same day