Compliance Update: Employer Reporting of Health Coverage

Under the Affordable Care Act (ACA), specific reporting requirements have been instated over the years that require employers to account for the kind of health coverage they provide their employees with. These reporting requirements are governed by two Sections of the Internal Revenue Code, 6055 and 6056, and each relates to specific health-related topics. These Sections, like others in the Code, are subject to constant changes and updates that must be complied with if employers are to report their health coverage options legally.

Read more

Don’t Let Mental Health Support Weaken Post-Pandemic

Mental health programs have been developing and growing in very positive, encouraging ways throughout the course of the COVID-19 pandemic. There has been a significant uptick in the amount of value both society and business have placed on mental health, and much progress has been made in securing better mental health benefits for employees across the board.

Read more

Employers Use Benefits and Perks to Counter Resignations

Employee resignations have been on the rise recently causing many employers to scramble to find ways to reduce their ever-growing turnover rates. The COVID-19 pandemic has spurred a significant increase in these resignations, especially among lower-level, low-wage employee groups. These individuals were faced with the unprecedented large-scale opportunity to leave their jobs and seek better-paying positions, leaving their former employers scrambling for help.

Read more

401(k) Contribution Limits for 2022

Everybody wants to enjoy a peaceful, worry-free retirement one day. But if you don’t plan for the future now, it may be much more difficult to do so later. 401(k) plans are a great tool individuals can use to save for retirement. It offers many great benefits, on top of being a solid savings fund, and many employees seek out jobs almost solely for benefits like a 401(k).

Read more

4 Reasons to Offer 401(k) at Your Small Business

Companies and employees both are always on the lookout for new benefits and savings options. For companies, they provide a way of overtaking their competition and attracting top talent. For employees, they provide necessary financial assistance in everything from insurance to savings.

Read more

Do Small Businesses Have to Offer Health Insurance?

Health insurance is a key benefit for employers to offer on the market today. It provides them with a security blanket in case of medical emergencies, and can greatly relieve the stress related to potentially high healthcare expenses. Because of these benefits and other legal reasons, most companies are required by law to offer health insurance, but do small businesses have to meet that same requirement?

Read more

Benefits of Workplace Counseling

Most people won’t admit to needing any kind of counseling services, but when they’re offered and used, a clear difference can be seen in the way your employees work and live. Workplace counseling services are an essential tool in your benefits package because it’s one of the few aids you can offer your employees whose benefits can be immediately apparent in the way your employees behave and interact with others at work.

Read more

HSA 2022 Contribution Limits

HSA contribution limits are subject to change every year and 2022 is no different. It pays to be aware of what amounts you are eligible for so you can make the most of your medical benefits. Increasing your medical coverage is not the only benefit that comes from contributing to your HSA, so let’s take a closer look at the contribution limits for 2022 and other factors that are affected by it.

Read more

Why Do Employers Match 401(k)?

When looking for a job, potential employees are very interested in what you can offer them when applying for positions at your company. Some of the obvious draws include higher salaries, convenient locations relative to their living situations, and medical benefits. However, there is another benefit that is highly prized in the job market that many businesses offer to pull the best talent: employer-matched 401(k) benefits.

Read more

Effective Employee Benefits Communication

Having a solid employee benefits plan in place is crucial to the success of your business, but the success of your employee benefits plan heavily relies on how effectively you communicate information about the program.

Read more