Friday, 28 April 2023 00:03
5 Small Business Attraction and Retention Trends for 2023
Written by Kristen RussellEmployers of all sizes are currently facing attraction and retention challenges. These challenges will likely continue through 2023. Successful efforts to win over employees can require a time investment and carry high costs. Unfortunately, small businesses often don’t have excess resources to invest in attraction and retention efforts in today’s worker-friendly labor market; however, they have the agility to respond to the employment market with new strategies. Amid current labor obstacles, many smaller employers are focusing on what’s feasible in 2023.
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Best Practices
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Wednesday, 26 April 2023 23:37
What Happens If Your Employees Miss Open Enrollment?
Written by Kristen RussellIf your employees miss your open enrollment deadline, they could lose coverage and be unable to make benefits changes or enroll until the next enrollment period. One exception to this rule is if they experience a life-changing qualifying event that would trigger a special enrollment period (SEP). Events such as getting married or divorced, having children or losing eligibility for other health coverage can trigger special enrollment rights.
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Benefits 101
Investing in a health savings account (HSA) is a rapidly growing trend. An HSA is a tax-exempt savings account used to pay for qualified out-of-pocket medical expenses of an individual, their spouse and dependents.
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Benefits 101
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In December, the Consolidated Appropriations Act 2023 was released, passed by Congress and signed into law by President Biden. One section of that omnibus budget law is known as Telehealth Safe Harbor. This new safe harbor is identical to both the prior safe harbors, except that it marries both the plan year approach of the CARES Act with the calendar year approach of the CAA. Both calendar and non-calendar year plans will be able to take advantage of the relief.
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Healthcare Legislation
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Tuesday, 31 January 2023 00:35
IRS Permanently Extends Deadline For Furnishing ACA Reporting Forms To Employees
Written by Kristen RussellAn automatic 30-day extension to furnish the forms to employees. (Deadline will now be March 2, 2023, to furnish Forms 1095-C to individuals)
The deadline to file the Forms 1094-B or C and 1095-B or C with the IRS will remain February 28 for paper filings and March 31 if filed electronically.
Applicable Large Employers are still required to furnish Form 1095-C to their full-time employees. They must also complete Part III if the employee is enrolled in self-insured or level funded coverage.
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Healthcare Legislation
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