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IRS Announces Benefit Limitations for 17

IRS Announces Benefit Limitations for 17

Today, the Internal Revenue Service announced in Revenue Procedure 2016-55 the annual inflation adjustments for more than 40 tax provisions for 2017, including the tax rate schedules, and other tax changes. This Revenue Procedure provides details about these annual adjustments. There are several benefit limitations for 2017 included: * The annual dollar limit on employee contributions to employer-sponsored healthcare flexible spending...

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The Skinny on Minimum Essential Coverage Plans: Are They Right For You?

The Skinny on Minimum Essential Coverage Plans: Are They Right For You?

Minimum Essential Coverage (MEC) plans or “skinny plans” may not be new, but they’re making news. In fact, 16 percent of large employers intend to offer one in 2015. These limited protection coverage plans have both pros and cons. How do you know if a MEC plan could be an option for you? Minimum Essential Coverage (MEC) plans or “skinny plans” may not be new, but they’re making news. MEC plans generally cover preventive and...

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Small Businesses No Longer Allowed to Reimburse

Small Businesses No Longer Allowed to Reimburse

As a small to medium sized group benefits broker we see a lot of difference cost savings techniques in benefits packages.  This is specifically true in the under 50 employee market. Our account and sales team analyze hundreds of plans a year and have pinpointed that an employer who isn’t overly thrilled with the cost of employer-sponsored health coverage will drill down in unique approaches to say the “offer” health...

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Employer’s Paying for Individual Insurance

Employer’s Paying for Individual Insurance

Employers ditching their group policies and forcing employees to shop the state-based and federally facilitated exchanges, has been a big concern with the Obamacare rollout, especially in low-wage jobs where people are most likely to be eligible for subsidies. And, indeed, it has been happening. Some employers have even paid employees to shop for health insurance on their own. Prohibited The IRS prohibits employers from giving (or...

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New PPACA Manager added to Agency Management Tool

New PPACA Manager added to Agency Management Tool

ACAManager is a large-scale ACA compliance solution for brokers and their employer groups. The Omega Benefit Group is really excited to show you one way our agency is tackling Healthcare Reform and the logistics facing employers both large and small.  From time to time our team get’s the latest program to help our clients in various regulatory compliance. Unlike the competition, ACAManager unites comprehensive benefits administration...

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5 ACA issues employers should be following

5 ACA issues employers should be following

I came across this great article from Employee Benefit Advisor yesterday and thought it was a great share with our audience.  With the Affordable Care Act’s new reporting requirements fast approaching, employers and their benefit advisers need more than ever to keep abreast of what’s happening with the ever-changing health care reform law. Here are five ACA issues the national law firm Epstein Becker Green says employers need to be...

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