Original post businessinsurance.com Health savings accounts are surging in popularity — and that can lead to some complications for older workers who enroll in Medicare. Health Savings Accounts (HSAs) are offered to workers enrolled in high-deductible health insurance plans. The accounts are used primarily to meet deductible...
Despite having an extra day, February 2016 remained relatively quiet in regard to compliance and employee benefit plans. The Department of Labor (DOL) issued the awaited proposed revisions to the Summary of Benefits and Coverage (SBC) template and its instructions. The 2016 poverty guidelines (also referred...
Original post benfitnews.com The American population is getting heavier. From the 1960s to the present, obesity has almost tripled. In fact, experts predict that if current trends continue unchanged, by 2030 more than half of the U.S. adult population will be obese, according to research published in the...
Original post ubabenefits.com A Summary of Benefits and Coverage (SBC) is four-page (double-sided) communication required by the federal government. It must contain specific information, in a specific order and with a minimum size type, about a group health benefit's coverage and limitations. In February 2016, the...
Original post benefitsnews.com Employers hoping to attract and retain employees need not look further than their vision benefit offerings. New research shows vision benefits have high engagement with employees, but some experts say employers need to work closer with advisers to build the benefit plan workers are...
Original post ubabenefits.com Do your employees often eat alone? If so, you may be missing an opportunity, according to an article on the Society For Human Resource Management's website titled, "Breaking Bread At Work Boosts Bottom Line, Study Claims." This goes beyond the simple question of whether...
Original post ubabenefits.com Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has their own account, at least for bookkeeping purposes. Under the tax rules, amounts may be...
Original post ubabenefits.com The newly enacted PACE Act offered significant relief to employers with 51 to 99 employees who, under the Patient Protection and Affordable Care Act (ACA), would otherwise have been subject to community rating.Community rating, which affects the small group and individual markets, is...
Original post entrepreneur.com No one likes to be lectured in the workplace. As a leader, you need to communicate with your employees to deliver strategic direction, reinforce corporate culture and rally the troops to achieve company goals and objectives. To be effective, you need to deliver these...
Original post ubabenefits.com An employer that offers minimum essential coverage to substantially all of its full-time employees may still owe penalties if the coverage it offers is inadequate because it is not "affordable" or it does not provide "minimum value." It also may owe penalties on...