Tips to help you get prepared to make a smart choice Open enrollment season is here and its time to wade into the murky and often confusing waters of insurance terms and accounts to find the right plan for you and your family. It can be a daunting task so we’ve put together some high-level tips that might help in … Read More
Childrens Health Insurance Program receives update
The Children’s Health Insurance Program (CHIP) was signed into law in 1997 to help provide health coverage to children in households that can’t afford private coverage and yet make too much money to qualify for Medicaid. Employers can use the CHIP initial model notice to notify employees of the availability of state premium assistance subsidies, which may help pay for … Read More
Things to consider before changing “Pay Day”
Most employees can tell you exactly when payday occurs since they count on regular paydays to maintain their finances. When an employer decides to switch when the payday will occur, it might result in some backlash from the employees who count on getting paid on the old schedule. The FLSA does not dictate payroll frequency or lag time between hours … Read More
IRS posts HSA limits for 2015
On April 23, 2014, the IRS announced the inflation-adjusted increases applicable to Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for 2015 in Revenue Procedure 2014-30. The limits effective for the calendar year 2015 are: The maximum annual HSA contribution for self-only HDHP coverage will increase from $3,300 to $3,350. The maximum annual HSA contribution for family HDHP coverage … Read More
Younger workforce leans towards not using employer health care
We came across this summary published by Kaiser Health News recently and figured it would be a great read for many weighing the impact of health care reform against the buy-in of the younger portion of today’s working economy. Despite the mandate that most Americans carry health insurance or pay a penalty, young workers employed by large companies signed up … Read More