Q.- An employee’s son is losing coverage under our health plan because he just got married. Do we issue him a COBRA notice?
The beginning of the year is a good time to ensure your HR compliance is in order. This includes making sure notices are posted appropriately, if required.
The IRS will begin enforcing the employer shared responsibility provisions of the Affordable Care Act later this year. The employer shared responsibility provisions require applicable large employers to offer affordable health coverage providing minimum value to their full-time employees or make a payment to the IRS if one of their full-time employees receives a tax credit for purchasing individual coverage through the health insurance Marketplace.
Q.- May we offer a carryover provision in our Dependent Care FSA like we do for our Health Care FSA?
Employers with certain federal construction, service and concession contracts must be prepared to pay an increased hourly minimum wage starting January 1, 2018. On this date, the minimum wage rate for employees performing work on covered contracts will increase from $10.20 per hour to $10.35 per hour. The minimum wage rate for tipped employees will increase from $6.80 per hour to $7.25 per hour.
The Affordable Care Act requires an applicable large employer to offer it’s full-time employees affordable health coverage that provides minimum value.
The Occupational Safety and Health Administration (OSHA), a sub-agency of the U.S. Department of Labor, was created in 1970 to assure safe and healthful working conditions by setting and enforcing standards and by providing training, outreach, education and assistance. OSHA generally regulates private sector employers.
Q.- We are a large employer with a fully-insured medical plan. We offer coverage to full-time and part-time employees. Do we send Form 1095-C to our part-time employees?
The IRS has issued revised versions of Forms 1095-B/C and 1094-B/C, along with instructions for completing the forms, for the 2017 tax year. The 1095 series of forms must be furnished to individuals by January 31, 2018. With no delay to the filing date anticipated and the IRS’ confirmation that e-filers will have to indicate compliance with the individual mandate on their tax returns, employers should prepare for the distribution requirements.