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IRS Announces Employer Health Insurance Affordability Threshold for 2020

If you’re a large employer, meaning one who employs more than 50 full time equivalents, then by now you are very familiar with the requirement to offer affordable health insurance to at least 95% of full time employees. Beginning in 2014, the IRS issued a mandate requiring all[…]

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Deadline October 15th: Employer Medicare Part D Notices

Each year, Medicare Part D requires employers to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Employers must provide the annual disclosure notice to Medicare-eligible individuals before[…]

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2020 Employer Health Premiums: 5 Things To Know

In 2019, the United States is projected to spend over $500 billion on prescription drugs, by some estimates—12 times more than the $40.3 billion spent in 1990*. A large portion of that will be paid for by employers via their group health insurance premiums. Both President Trump and[…]

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Arizona Employers Report High Demand for These 6 Skills

Working closely with employers every day I learn a lot about what’s working and what’s not, particularly when it comes to recruiting quality employees. If employer complaints are anything to go by, then it would appear the old saying “good help is hard to find” still holds true[…]

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Executive Order on Healthcare & Employer Costs: 3 Changes Coming

On June 27, 2019, President Donald Trump signed an executive order that makes a unique start toward cost control in healthcare. Because employers pay for 34% of all healthcare dispensed in America, they represent one of the largest, independent stakeholders in the fight to gain better control of[…]

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PCORI Fees Due July 31 – 9 Employer Questions Answered

This month employers reach the end of an era as they pay one of the last fees created by the Affordable Care Act (ACA). In 2012, through the Affordable Care Act (ACA), Congress created a nonprofit corporation known as the Patient-Centered Outcomes Research Institute (PCORI) to support clinical[…]

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IRS Form 5500 Due July 31 – 12 Employer Q&A

Each year employee benefit plan administrators are required to report on the financial condition, investments and operations of their employee benefit plans. Failure to file the return can result in a maximum penalty of $2,194 per day for each day late. The Department of Labor (DOL), Internal Revenue[…]

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401(k) & Taxation: 10 Things Employers Should Know

It used to be that setting up a 401K plan was a daunting task but in recent years plan sponsors have evolved and made plans a lot more user friendly. Recent research performed by Willis Towers Watson reported the following statistics: Around 40% of sponsors reduced the number[…]

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Paid Time Off: Arizona Employers Are Re-Thinking “Vacation”

Arizona’s warmer temperatures have arrived and with them comes vacation season. As employees begin putting in requests for time off employers may be interested to know that taking a sick day or requesting vacation is quickly becoming a thing of the past. In recent years, more employers are[…]

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$1.7 Trillion in Uncredited Wages – 8 Employer Questions Answered

Recently a large number of employers have received letters from the Social Security Administration (SSA) department titled “Employer Correction Requests”. These letters notify of discrepancies between the information SSA has on record relative to an individual’s name and/or social security number (SSN), and that which the employer has[…]

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