With the rally of legislative changes, new provisions and rules coming into effect, a lot is being said about the existence of brokers. But the fact is- with the rising complexities, employers are now in much more need of expert guidance on employee benefits administration and management. There lies a significant opportunity for brokers to help their employer clients manage benefits while complying  [...]
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It’s a real good news for the members of financial advice industry as well as individual investors! As the Department of Labor launched the new rule for financial advisors- “fiduciary rule”, bringing the interest of investors first by setting fiduciary standards for advisors. With the much anticipated rule, it is being said that arou [...]
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It’s National Employee Benefits Day on April 4th and as designated by the International Foundation of Employee Benefit Plans (IFEBP), this is a very good chance to educate employees about their benefits, re-evaluate the benefit offerings and celebrate everyone’s hard work throughout the year. It is a day when the dedication and contribution of various corporate benefits practitioners, administrators and professional advisors towards  [...]
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“After investing tens of billions of dollars, has ObamaCare succeeded in making the health care system more efficient and less expensive?”Obamacare is celebrating its 6th birthday, but with the newspaper articles, polls and countless stories from people across the country, the opinion seems to be ambiguous.
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ACA reporting is approaching and the mere thought of it is making employers’ hearts skip a beat. With the newly designated deadlines and reporting requirements put forth by the IRS, health coverage providers and applicable large employers are given a sign of relief to properly prepare themselves for the real deal. To ease the task, here are few aspects that you need to give priority to make this reporting season easy and seamless for your org [...]
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In the Notice 2016-22 issued on March 7, 2016, IRS has offered guidance and transition relief for employers to undertake the certification necessary in claiming the work opportunity tax credit (WOTC). This extension was provided to cover those eligible employees who started their employment between January 1, 2015 and May 31, 2016 and also include employees falling under the “long-ter [...]
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For most of the 2015, everyone was busy gathering more and more information about the first ever Affordable Care Act reporting requirements that apply to the employers as well as insurance carriers. A lot has been said and written about the reporting requirements though, here we put some light on one of the options available for reporting- electronic filing.
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EDI 834, referenced as the Obamacare’s most important number, has a vital role in the healthcare industry. Since it is the prescribed format by HIPAA 5010 for  benefits enrollment and maintenance document that is used to transmit information like healthcare subscriber’s personal information, status of enrollment and the plan or product identification details, it becomes more critical to carry out the data transactions more carefully and ac [...]
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“As business owners you probably know by now that the New Year brought with it a whole new set of IRS reporting requirements and you definitely don’t have enough time left for that law to come on the floor.”ACA has been always been a complex topic for both employers and employees. Where employees seek most of the information from their employer, it is the responsibility of the brokers to cater all employer queries, so that  [...]
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With the extensions of Work Opportunity Tax Credit through December 31, 2019, recipients like youths on their summer breaks, war veterans, food stamp recipients, etc. will now find it much easier to find employment. Under this law, employers are given a specific amount of tax credit to hire such individuals benefitting both the employees and employers, which subsequently help in boosting the nation’s economic growth and overall productivity.
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