DOL audits are on the rise: Are you in compliance? Employers who sponsor group health plans should be aware of the various reporting and disclosure requirements under the Employee Retirement Security Act (ERISA). ERISA, which was enacted in 1974, is not a new law, but employers are often unaware of the documents that they need […]
November 23, 2016 By MELANIE TROTTMAN WALL STREET JOURNAL WASHINGTON-A federal judge issued a nationwide injunction blocking a sweeping regulation set to qualify millions more Americans for overtime pay Dec. 1, delivering a blow to one of President Barack Obama’s signature workplace rules. The Labor Department completed the rule in May as part of the Obama administration’s goal to restore […]
November 20, 2016 In Notice 2016-70, IRS extends the 2017 deadline from January 31 to March 2 for employers and insurers to furnish individual statements on 2016 health coverage and full-time employee status (Forms 1095-B and 1095-C). The notice also extends 2015 good-faith penalty relief to 2016 for incorrect or incomplete reports due in 2017. In […]
The IRS has now released the draft 2016 instructions for both the “B” and “C” versions of Forms 1094 and 1095. The agency uses the forms to enforce provisions of the Affordable Care Act (ACA). It’s important for employers to stay apprised of changes to these critical documents. The B Forms These are filed by […]
The U.S. House of Representatives passed and sent to the Senate a bill that would delay the start of new federal overtime pay rules from December 1, 2016 to June 1, 2017. However, President Obama has indicated he will veto the bill if it hits his desk. The House bill was introduced shortly after officials from […]
In May, the Department of Health and Human Services (HHS) published a final rule implementing Section 1557 of the Affordable Care Act (ACA) which prohibits discrimination on the basis of race, color, national origin, sex, age, or disability in certain health programs or activities. The rule is effective for plan years beginning on or after […]
Are You Ready for the New Overtime Rules? The deadline for the Department of Labor’s (DOL’s) new final overtime rule is scheduled to be December 1, 2016. While CFOs at most large U.S. companies have been working overtime themselves to prepare for the changes, many small and midsize firms haven’t been as quick to react.Current […]
BASIC’s ACA Elevate is a stand-alone solution that generates 1094-C/1095-C forms and electronic filing to the IRS. ACA Elevate offers two different solutions to ensure every employer remains compliant with 2016’s 6055/6056 Reporting Requirements. BASIC’s compliance service was recently recognized as one of the top 15 producers by a leading Health Insurance Carrier. With proven success and […]
Anyone who has ever had to take time for bereavement will tell you that the traditional allotted amount of time for this is not enough. There are tons of other factors that need to be taken into account with the loss of any loved one. The State of Illinois has taken one step in the […]
The Department of Labor (DOL) has issued interim final rules that will increase civil penalties assessed to employers for willful violations of the minimum wage, overtime, and child labor provisions in the Fair Labor Standards Act (FLSA), and civil penalties in the Family Medical Leave Act (FMLA). There will also be increased penalties under other laws. […]
