New fed spending bill brings big changes to your 401(k)
The feds passed a $1.4 trillion spending bill in the last days of 2019, and it will drastically change the way you administer your company’s retirement plan.
Benefits
IRS releases 2020 fringe benefit limits – got ’em all?
Blink and you may have missed changes to some of the smaller fringe benefit limits.
IRS approves new meds, treatments for HDHPs
Good news for companies that offer a high-deductible health plan (HDHP) and a health savings account (HSA) … and their employees. More preventive treatments and meds for chronic conditions will now be covered before employees satisfy their deductible. That’s thanks to IRS Notice 2019-45. A few examples of what’s now in-bounds: Medications: insulin (diabetes), beta-blockers […]
Feds greenlight new employee health insurance option: ICHRAs
You’ve just been handed an alternative way to afford employee health insurance: Let them buy it themselves.
IRS releases 2020 health savings account limits
We haven’t even hit the halfway point in this year, but IRS already wants you to turn an eye to 2020, specifically when it comes to your company’s healthcare plan.
IRS expands program to self-correct 401(k) errors
Suspect you made a misstep in your 401(k) administration? There’s now a greater chance you can correct that on your own, without ever having to get the Taxman involved.
Another one! Feds update regular rate of pay rules too
Your payroll staffers are going to be busier than usual! The Department of Labor (DOL) just announced it’s updating the Fair Labor Standards Act regs that control the regular rate of pay.
Feds make two about-faces that impact your company’s compliance
Just when you’ve got the rules down, they pull the rug out from under you! In recent weeks the feds have made two surprise policy reversals. And if you don’t keep up, you’ll get caught short.
IRS offers new guidance on correcting HSA deduction errors
You know it’s a great one-two punch for containing healthcare costs: Pair a high deductible health plan (HDHP) with a health savings account (HSA). These days more and more employees are signing on, which means more contributions for your payroll team to handle.
