What is the Cadillac Tax?
The "Cadillac Tax" is a 40% excise tax on the value of high-cost employer-sponsored health plans, beginning in 2018.
Plans that spend more than $10,200 per employee or $27,500 per family will be subject to the tax.* Plans for retirees, employees in high-risk jobs or in areas with higher health costs will have a higher cost threshold. The tax only affects the amount of the plan that is over the threshold.
According to the Department of State (DOS), the purpose of a security clearance is “to determine that a person is able and willing to safeguard classified national security information, based on his or her loyalty, character, trustworthiness, and reliability.”
A security clearance gives a person access to a database of privileged information within their clearance level. There are three clearance levels, top secret being the highest, followed by Secret, and then Confidential.
Do you own several companies under the same parent company? If so, you may be considered an Applicable Large Employer (ALE) and could be subject to the Employer Mandate or "Play or Pay" rules.
The IRS defines three types of controlled groups - parent-subsidy, brother-sister, and combined group - as a single employer.
Employers subject to the Fair Labor and Standards Act (FLSA) are required to notify their employees regarding health coverage options available through state and federal exchanges.
To find out if you have to comply with FLSA, click here.
Employees must be notified of:
What are Wellness Programs?
Wellness programs are intended to help employers manage health care costs and support healthier workplaces by offering participation incentives such as premium discounts, cash rewards, gym memberships, or preventative health screenings.
Hanging out together outside of work is a great opportunity for employees to get to know each other better, blow off steam and help employees feel like they belong. Activities that teach coworkers to rely on and trust each other in pursuit of a common goal is an important part of building a better workplace and boosting employee morale.
The XcelHR team in Buhl, Idaho, participates in a softball league each year. Founders Laura Spencer, Marilee Mink, and Debbie Bothof formed the team in 2010, along with their own children and few nieces, nephews and friends sprinkled in.
IRS Increases ACA's Affordability Percentages for 2015
Employer Mandate Adjustment
On July 24th, the IRS released new regulations (Revenue Procedure 2014-37) indexing affordability percentages for 2015 under the employer mandate or "play or pay" rules.
Contrary to popular belief, multitasking does not actually increase the amount (or quality) of work you will get done in a period of time.
A study by Michigan State tested this theory by interrupting participants with pop-ups while they were trying to take a computer test. Participants had to enter a four-digit code each time a pop-up appeared and then return to the test. The longer interruption lasted 4.4 seconds, the other 2.8 seconds. Errors on the computer test doubled with the 2. 8 second interruption and quadrupled with the 4.4 second interruption.
Less than three seconds. That’s all it takes to derail your train of thought.
Flexible Spending Accounts (FSAs) allow employees to put away pre-tax dollars for future medical costs.
FSAs can be used to pay for out-of-pocket healthcare costs, such as prescription medications, insulin, over-the-counter medications with a prescription, and medical equipment. FSAs can also be used to pay copays and deductibles, but not insurance premiums. Healthcare.gov provides a list of other qualified medical and dental expenses.
Beginning in 2013, there is a $2,500 annual maximum for individual contributions to a flexible spending account. Employees must decide at the beginning of each plan year the amount they will contribute to their FSA.
According to the U.S. Citizenship and Immigration Services office, E-Verify is “an Internet-based system that compares information from an employee’s Form I-9, Employment Eligibility Verification, to data from U.S. Department of Homeland Security (DHS) and Social Security Administration (SSA) records to confirm employment eligibility.”
In layman’s terms, E-Verify is an electronic system that allows employers to check whether new employees are legally able to work in the United States. The system allows employers to check new hires identification documents against government databases.
What documents does E-Verify check?
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