The employer mandate final regulations were released on February 10th and there were some significant changes that employers need to be aware of right now. The remainder of 2014 is the planning year and the decisions you make now with your workforce will have a financial impact on your health plan next year. We are going to help clarify and define the rules surrounding the “pay or play” requirements whereby employers will pay penalties if they don’t offer coverage, or coverage that meets the minimum requirements in 2015.
This presentation will address the following key components to help employers prepare now:
1. Who is subject to the employer mandate in 2015?
Hint: This was changed from the previous requirements and is revised with the February 10th update. Employers over 100 full-time equivalent employees needs to pay particular attention.
2. How do you measure your variable hour employees to determine if they are required to be offered coverage to avoid penalties in 2015?
3. What are the varying testing and measurement options to follow this year under the special transition rules?
4. What implications are there for contingent workers, meaning temporary employees or independent contractors?
5. How do I avoid any litigation pitfalls inherent with PPACA implementation?
6. What is my checklist and next steps to ensure my company is compliant with the requirements?
Benefit plans are subject to a seemingly never-ending procession of compliance requirements, and even minor problems can lead to significant consequences for employers, fiduciaries, and participants. Fortunately, there are a number of ways you can deploy plan documents and summary plan descriptions to minimize the likelihood of problems, and when Murphy’s law inevitably rears its head, the IRS and DOL offer a number of correction programs that can be used to cure the most common benefit plan ailments. In this session, you will learn practical plan drafting techniques to help you avoid compliance problems along with the (relatively) painless ways that common problems can be corrected under IRS and DOL guidance.
While many organizations offer employee assistance programs, employees don’t often use these helpful resources. U.S. Bank’s Sandi Boller shares how her organization has successfully transformed employees’ EAP awareness, perception and utilization. During this webinar, Sandi will share the four strategies U.S. Bank uses to drive usage of their EAP, Ceridian LifeWorks. These strategies include engaging leaders, leveraging numerous communication channels (especially their intranet), promoting phone consultations, and focusing messages on convenience and tangible savings. Sandi will also provide examples of these strategies so that you can learn from U.S. Bank’s impressive results – a 185 percent increase in EAP utilization! At the conclusion of the webinar, you’ll have great ideas for tactics you can apply to improve your organization’s use and benefit from employee assistance programs.
* Please note that this webcast doesn't qualify for HRCI credits.
It’s what you do in 2014 that will determine the Affordable Care Act (ACA) penalties that your organization could face in 2015. In fact, you should already have the systems in place to manage the legislation, handle IRS reporting, and calculate “look-back” periods for each employee.
However, with variable-hour and part-time employees, tasks like determining eligibility and collecting information for IRS reports can be perplexing.
If you’re like most, this leaves you with concerns and questions around which hours actually count towards eligibility, how you’ll manage overlapping look-back periods, and the impact or potential risks you could face.
Join ACA experts Kristin Lewis of Equifax Workforce Solutions and Tom Dowling of Stinson Leonard Street for a complete playbook to calculating look-back periods, reporting to the IRS, and managing the legislation in accordance with ACA regulations.
Dependent Eligibility Verification Audits are an increasingly integral part of health care cost containment, ERISA compliance, and PPACA "Pay or Play" analysis. On average, 4-8% of Dependents enrolled in company benefits are NOT eligible. This costs employers 10's of thousands, 100's of thousands - even millions of dollars annually. Time and Money are the most common objections to conducting an audit, along with fear of adverse employee reaction. This webinar explores Best Practices, mistakes to avoid, and the substantial ROI achieved from a comprehensive dependent audit.
Participants will learn what fraud in a benefits plan looks like, how prevalent fraud really is, and what type of savings they can generate for their company with an audit.
The purpose of this webinar would be to provide you, prior to the arrival of our friends from Washington, with more than adequate proactive protection from the possibilities of an audit not being concluded in your favor.
The safeguards offered would practically insure that you (and your Company and your Company’s qualified retirement plan will survive….intact….any audit you may undergo.
We will review, in specific detail, where this information regarding your plan, ranging from your plan’s Investment policy Statement (IPS) to the prompt processing of participant deferrals and from your Form 5500 data to meeting notes from your Investment Committee should be retained (and in what format).
This proactive protection will be provided to you from three different perspectives from three different professionals who have experience (and who have experienced) what we are trying to help you prepare for, proactively.
This session will assist HR professionals navigate the world of mergers and acquisitions as they relate specifically to benefit plans and qualified retirement plans. This session will discuss timing issues, potential issues that can cause delays in closing, how to deal with those potential issues, and how to handle employee relations issues as they arise. For benefit plans, these issues may come from cafeteria plans and how FSA accounts should be/can be handled, COBRA responsibilities, and MEWA issues. For qualified retirement plans, there are notice and timing rules that must be followed as well as qualification issues that may be discovered during the due diligence process. This session is for every HR professional who handles the administration of their company benefit plans and qualified plans.
Rising medical and health insurance costs, Healthcare Reform’s intense focus on consumerism, and the diverse needs of a multi-generational workforce are creating a turbulent employee benefits environment. Voluntary products provide a safe haven, offering choice of expanded coverage options and meeting the unique needs of each employee at little or no cost to your organization. In this webinar, Corporate Synergies’ Voluntary Benefits Subject Matter Expert, Ciro J. Giué, will guide you through options that will help:
• control health and welfare benefit costs to your organization
• meet the unique insurance needs of your existing workforce
• help attract and retain quality job candidates
Employers, governmental entities and even employees, brokers and consultants are all still after 4 years trying to understand the impact of HealthCare Reform on employee benefits. Defined Contribution Health benefit plans are again, and have been many times since 1978, being explored as a viable option. Why there is demand, who should be covered, and how it works with PPACA will be explored. Private and Public Exchanges and Cooperatives will be explained and recommendations as to what employers and their brokers can do for the rest of 2014 and 2015 will be made.
This presentation is designed to address the latest Benefit which is called a Defined Contribution Health which can be funded with Employer contributions to a FSA, HRA, or even to a HSA. We will look at whether there are limits as to funding levels and its impact on discrimination testing. We will also look at Private and Public Exchanges versus the growth of Cooperatives in each State and new voluntary benefits like Telemedicine and how it could work with Partial or Full Self-Funding will be addressed.
Questions and Answers will be addressed at the end of the presentation.
The DOL has said that plan fiduciaries must review if their plan expenses are "reasonable". First one must understand where all the plan expenses lie. What is revenue sharing and how does it affect my duties as a fiduciary to a retirement plan? Many Plan Sponsors use revenue sharing to pay some if not all of the plan's administrative costs. The term revenue sharing refers to payments made by investments to a third party. In Field Assistance Bulletin 2003-03, the DOL indicated that allocating plan expenses is a fiduciary decision and requires fiduciaries to act prudently. There are several methods of paying for the plan's administrative services.