Are you a Fiduciary?

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Under the U.S. legal system, a fiduciary duty is the legal term describing the relationship between two parties that obligates one to act solely in the interest of the other. The party designated as the fiduciary owes the legal duty to a principal, and strict care is taken to ensure no conflict of interest arises between the […]

Don’t Trust the Government to Be Up-To-Date

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A single government source may not give you the most correct answer. We trust the government to have all the correct information to not steer us in the wrong direction. A good rule of thumb is to check with multiple sources to see matching information. It is important to remember, things are not always up […]

Appealing Marketplace Decisions & IRS Letters

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Both the Health Insurance Marketplaces and the Internal Revenue Service (IRS) have begun sending letters to employers to enforce the Affordable Care Act’s employer shared responsibility provisions (also known as “pay or play”). Health Insurance Marketplace Letters Health Insurance Marketplaces must notify employers that one or more of their employees has been determined to be […]

Pre Tax Plans

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A cafeteria plan, also known as a section 125 plan, is a written plan that provides employees an opportunity to receive certain benefits on a pretax basis by allowing them to choose between receiving a taxable benefit (such as cash) or certain qualified benefits for which the law provides an exclusion from wages (such as […]

Creditable Coverage Notice- Due October

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Employers offering group health coverage that includes any prescription drug benefits must complete two notice and disclosure requirements each year: Provide a written notice to all Medicare-eligible plan participants before each October 15 explaining whether the plan’s prescription drug coverage is “creditable coverage” (i.e., the coverage is expected to pay on average as much as […]

The Family Medical Leave Act

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The Family and Medical Leave Act (“FMLA”) entitles employees to take time off from work for a total of up to 12-weeks due to family or medical emergencies, but only for specified reasons. Not every reason qualifies for FMLA protection while on time off (defined as an overnight stay in a hospital, hospice or residential […]

Do you offer your employees a 401k plan? Then this applies to you!

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Your payroll company is not a fiduciary for your 401k plan. You need to understand what you are responsible for. DOL audits are increasing every year. Be prepared. If you need help – let us know! Federal law protects plan participants by requiring all who provide retirement investment advice to abide by a “fiduciary” standard. […]

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)

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The Consolidated Omnibus Budget Reconciliation Act of 1985, commonly known as COBRA, is a federal law that requires employers of 20 or more employees with group health plans to offer employees, their spouses and dependents a temporary period of continued health care coverage if they lose coverage through the employer’s group health plan. Health Plans […]

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