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Here are the rules that will sunset at the end of 2021: Allowing employees who had declined group healthinsurance for the 2021 plan year to sign up for coverage. The CAA created a number of new requirements that affect healthinsurance and coverage. That’s a change from the prior threshold of 250. 1, 2022.
March 31, 2025: Electronic filing deadline for 1095-C forms. Flexiblespendingaccounts (FSA) Flexiblespendingaccounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline.
This may involve collecting timesheets, time clock records, or electronic time tracking data. Benefits and Deductions: Collect information related to employee benefits and deductions, such as healthinsurance, retirement contributions, flexiblespendingaccounts, loan repayments, or garnishments.
It’s almost time for year-end small group open enrollment and you need to drive engagement so that your employees can make informed decisions about their healthinsurance options. You can also invite them to view any electronic material you may post online, like the aforementioned videos.
It’s been a wild year for healthinsurance reform. While the Affordable Care Act has a small direct effect on employer-sponsored healthinsurance, chances are your employees are feeling uncertain about their coverage, and they’ll be coming to you for answers. HealthInsurance Is King.
Flexiblespendingaccounts can help employees with health and dependent care expenses by allowing them to set aside pre-tax dollars for eligible expenses, thus reducing their tax burden on money spent for medical expenses, childcare, or other dependent care expenses. Providing additional healthinsurance plan options.
Employers can use the following two IRS webpages for more details: Employer Shared Responsibility Provisions Types of Employer Payments and How They Are Calculated Health Plans Must Submit Gag Clause Attestations by Dec. 31, 2023 On Feb. Disclosure to CMS Effective Dec. Effective Dec.
Benefits platforms also allow companies to centralize and automate the administration of employee benefits, such as healthinsurance, retirement plans, paid time off, and more. Flexibility in Benefits: An employee benefits platform can provide greater flexibility in the benefits employers can offer their employees.
It’s almost time for group healthinsurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. You may also invite them to view any electronic material you may post online, like the aforementioned videos.
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