News Briefs and Legislative Updates. Insight is your compliance partner.
There are countless rules and regulations governing employee benefit plans and company compliance, many of which are complex. Our resources will help you meet your compliance obligations and keep you up-to-date on laws and regulations that affect your company.
IRS Reduces HSA Limit for Family Coverage for 2018 – On March 5, 2018, the IRS released Revenue Procedure 2018-18 to announce changes to certain tax limits for 2018, including a reduced HSA contribution limit for individuals with family coverage under an HDHP. Employers with HDHPs should inform employees about the reduced HSA contribution limit for family HDHP coverage. Employees may need to change their HSA elections going forward to comply with the new limit.
House and Senate Pass Tax Reform Bill 12-20-17 – On December 20, 2017, the tax reform bill, called the Tax Cuts and Jobs Act, passed both the U.S. Senate and the U.S. House of Representatives. The bill is now expected to be signed into law by President Trump by the end of the day. This tax reform bill, drafted based on a tax reform plan that was developed in consultation with Trump administration, will make significant changes to the federal tax code. Specifically, the tax reform bill will have a substantial impact on businesses.
OSHA Delays Electronic Reporting – On November 24, 2017, OSHA issued a new final rule officially delaying the electronic reporting deadline to December 15, 2017. Affected establishments will need to submit their 2016 data reports through the Injury Tracking Application website by that time or face possible OSHA penalties.
New Rules for Disability Benefit Claims Take Effect in 2018 – On Dec. 16, 2016, the DOL released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits. ERISA plans that include disability benefits must comply with the new requirements effective for disability claims that are submitted on or after Jan. 1, 2018. However, the DOL has recently indicated that it may delay or amend the final rule. This Compliance Bulletin summarizes the final rule’s new requirements.
OSHA FAQs on Electronic Reporting – OSHA’s electronic reporting rule requires certain employers to electronically submit data from their work-related injury records to OSHA. The rule also solidifies employee anti-retaliation protections for reporting injuries & illnesses. This Compliance Overview presents OSHA’s answers to some of the frequently asked questions regarding the electronic reporting rule. The document has been updated to reflect OSHA’s intention to delay the first electronic reporting deadline.
News Brief – 143 Million People Potentially Affected in Equifax Data Breach – Equifax, one of the largest credit reporting agencies in the United States, was recently the victim of a massive cyber attack—an attack that may have compromised the personal information of 143 million people.
New SBC Template Required for 2018 Open Enrollment – The updated template and related materials for the summary of benefits and coverage (SBC) are required to be used for annual open enrollment periods beginning on or after 4/1/17. For calendar year plans, this means that the updated template must be used for the 2018 open enrollment period. This ACA Compliance Bulletin provides an overview of the new SBC template.
Be Prepared for an OSHA Inspection – The OSH Act requires employers to provide a safe work environment for their workers. OSHA enforces compliance with the OSH Act by conducting inspections, gathering evidence and imposing penalties on non-compliant employers. OSHA penalties may result in fines. This Compliance Overview provides a summary a summary of the OSHA inspection process as well as some tips and reminders that employers should be aware of during an inspection.
On-site Health Clinics Impact on HSA Eligibility – Employers may consider establishing on-site health clinics as a way to control health plan costs. Employers that offer high deductible health plans (HDHPs) that are compatible with health savings accounts (HSAs) should consider how an on-site clinic may impact employees’ HSA eligibility. This Compliance Overview discusses when an on-site health clinic may be disqualifying coverage for purposes of HSA eligibility.
Snapchat Snap Map Safety: Is it even safe? This article discusses some potentially overlooked concerns regarding the new Snapchat update, Snap Map. The latest feature enables users to view others’ locations, opening your company to unforeseen liabilities.
How the 2016 Election Could Affect Health Care – This article provides a brief overview of each candidate’s health care platform, so you can better understand how Clinton or Trump may affect the employee benefits landscape if elected into office.
2017 ACA Compliance Checklist – Several ACA requirements will be affected by changes that take effect in 2017, such as increased dollar limits or percentages. To prepare for 2017, employers should review upcoming requirements and develop a compliance strategy. This Legislative Brief provides an ACA compliance checklist for 2017.
Fact Sheet – Protecting Workers From Occupational Exposure to Zika Virus– Interim Guidance for Protecting Workers from Occupational Exposure to Zika Virus
How to Respond to Pokémon Go– Pokémon Go is a free-to-play game for iOS and Android devices, which has exploded in popularity among individuals of all ages since its debut. This article examines how employers can respond to Pokémon Go.
Social Media – Snapchat– Since its launch in 2011, Snapchat has surpassed Twitter in average daily users, which indicates that it is a viable way to reach your audience. Snapchat’s easy-to-use, highly interactive and engaging format makes it popular among individuals and businesses alike. Read on to learn more about how to get started.
HR Brief – February 2016 – This month’s HR Brief gives an overview of recent guidance issued on conducting internal Form I-9 audits and on advising employees on 401(k) loans. It also advises employers about the new filing deadlines for certain information returns beginning with the 2016 reporting year, including the Form W-2.
HR Insights-5 Important HR Issues to Monitor for 2016 – Employers have new challenges to contend with in 2016, resulting from Supreme Court
decisions, federal and state legislation, and actions by federal regulatory agencies. There is a
real cost for employers who fail to comply with new laws. Here are 5 important HR issues to monitor in 2016.