Benefits Alert 2013-03

Trish Neely, CFCI

For many employers, FBMC included, wellness programs are considered smart business. According to a Rand Corporation study of 600 businesses (50+ employees), Workplace Wellness is a $6 billion industry in the United States with 51% of mid-size to large companies offering some type of workplace wellness. (Sharon Begley, Bloomberg | May 29, 2013)

Benefits Alert 2013-02

Trish Neely, CFCI

The Department of Labor (DOL) released the model language we have been expecting for employers to notice employees about the Exchanges. This Alert focuses on the Model Notice for employers who offer a health plan to some or all employees: http://www.dol.gov/ebsa/pdf/FLSAwithplans.pdf.

Will it be Affordable? Provide Minimum value?
How do you avoid those Play or Pay Penalties?

Trish Neely, CFCI & Florrie Jones, CFCI

PPACA provides for two different Play or Pay penalties that may be assessed against a large employer beginning 1/1/2014. The first may generally be determined with a yes/no answer; the second is likely to be more challenging to determine and therefore to comply with; however to assist employers, the agencies have created two calculators and are soon to publish design-based safe harbors.

Keep our checklist handy to assure you are complying with 2013 requirements and proactively preparing for 2014.

Trish Neely, CFCI

Take a minute to review and answer the following questions. If you answer no or I don’t know, then the Department of Labor (DOL) has a new tool you should want to know more about.