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2019 Rules Announced for High-Deductible Health Plans and Health Savings Accounts
On May 11, 2018, the Internal Revenue Service released updates to the deductible and out-of-pocket maximum requirements applicable to calendar year 2019 for a plan to qualify as a high-deductible health plan (HDHP). As participants in qualified HDHPs are permitted to make contributions to Health Savings Accounts (HSA), updates to HSA limits have also been End excerpt
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3 Essential Human Resources Competencies to Inspire the Modern HR Professional
HR professionals truly face an ever-changing landscape. As the HR industry continues to thrive and broaden its reach, it is imperative that HR professionals focus on developing and building their skills to sustain a long and impressionable career. According to the Bureau of Labor Statistics, enrollment of human resources specialists is expected to grow by End excerpt
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Top 5 Reasons to Outsource Your HR
As a leading professional services firm, FosterThomas knows that HR and its growing demands can often times become overwhelming. When businesses try to allocate various HR tasks over several employees, the results can be inconsistent at best, and chaotic at worst. Regardless of industry or company size, HR responsibilities can weigh heavy, and outsourcing HR End excerpt
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10 Winning Traits for Successful Recruitment.
The following information was received from the IRS on 7/14/16. As an employer, the size and structure of your workforce helps determine which parts of the health care law apply to your business. Work forces typically fluctuate, so it’s important to annually determine the size of your workforce. The number of employees you have during End excerpt
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10 Winning Traits for Successful Recruitment.
The following information was received from the IRS on 7/14/16. As an employer, the size and structure of your workforce helps determine which parts of the health care law apply to your business. Work forces typically fluctuate, so it’s important to annually determine the size of your workforce. The number of employees you have during End excerpt
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ACA Final Regulations – 2019 Notice of Benefit and Payment Parameters
The following information was provided by our partner Cigna On 4/9/18, the Department of Health and Human Services (HHS) issued final regulations and related guidance on Affordable Care Act (ACA) provisions including Essential Health Benefits (EHBs), out-of-pocket (OOP) maximums, and Marketplace updates and reforms. These regulations, generally effective for plans and plan years beginning on and End excerpt
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Comparative Effectiveness Research Fee (CERF) in 2018
The ACA imposes an annual fee called the Comparative Effectiveness Research Fee (CERF) on insurers and plan sponsors of self-insured coverage. 2018 CERF Payments are due on 7/31/18.
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HSA Update to Contraceptive Equity Act in Maryland
On 3/5/18 the IRS issued Notice 2018-12, providing transition relief on the issue of male sterilization and HSA accounts. In the notice, the IRS states that: Male Sterilization is NOT preventative care Male Sterilization must include cost sharing payments such as deductibles/co-pays HDHP Policies that mandate payments for male sterilization without cost sharing are NOT End excerpt
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IRS Lowers HSA Limit Due to New Tax Law
IRS Lowers 2018 Family HSA Contribution Limit by $50 The IRS has recalculated the HSA limit due to the Tax Cuts and Jobs Act that passed in late 2017. The 2018 contribution limit for health savings accounts (HSAs) will be $6,850—not $6,900. On 3/5/18 the IRS clarified that: HSAs Annual tax-deductible contribution limit for tax year End excerpt
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Maryland Sick and Safe Leave Guidance: Frequently Asked Questions
The following information was received from the Maryland Department of Labor, Licensing & Regulation Maryland Healthy Working Families Act (House Bill 1) Guidance: Frequently Asked Questions small.business@maryland.gov On February 11, 2018, the Maryland Healthy Working Families Act went into effect. Since being established only a month ago, the Office of Small Business Regulatory Assistance has End excerpt
