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Labor Day Run
Posted on: August 15, 2014Categories: News & EventsThis Labor Day grab a friend or family member and participate in the Labor Day Run 5 Miler. This is a 5 mile race that you run with a team of team people. You and your partner each run half the distance as a relay team, but you can also participate by yourself for even more of a challenge. The race will take place on Monday, September 1st at the Palmetto Grand Prix and Tour de Columbia and it starts at 7:30 in the morning. There will be multiple age groups, awards, and other door prizes. You can ...
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Reporting Requirements for Employers and Health Plans
Posted on: August 14, 2014Categories: HR & ComplianceThe Affordable Care Act (ACA) created a number of federal reporting requirements for employers and health plans. The additional reporting is intended to promote transparency with respect to health plan coverage and costs. It will also provide the government with information to administer other ACA mandates, such as the large employer shared responsibility penalty and the individual mandate. This Legislative Brief provides a summary of the following reporting provisions: ACA Reportin ...
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Deskercise- Exercises for the Workplace
Posted on: August 13, 2014Categories: LiveWell 24/7Desk jobs tend to have a negative effect on our health. Generally people with desk jobs experience weight gain, increased strain on their neck and back, loss of muscle tone and stress. However, just because you are stuck in an office doesn’t mean you can’t improve your fitness level and heart health in small ways. There are several different exercises designed for the office that you can do to combat the negative effects on your health. Here are a few you can try next time you are ...
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Limit on Health FSA Contribution
Posted on: August 12, 2014Categories: HR & ComplianceThe ACA imposes a $2,500 limit on salary reduction contributions to a health FSA offered under a cafeteria plan. This limit became effective for plan years beginning after Dec. 31, 2012. Thus, starting in 2013, a health FSAs must limit the annual amount of salary reduction contributions that each employee can make to $2,500 (or a lower limit selected by the employer). On Oct. 31, 2013, the Internal Revenue Service (IRS) announced that ...
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August 2014 Health Care Reform
Posted on: August 12, 2014Categories: HR & ComplianceIRS Increases Affordability Percentage Under Employer Mandate for 2015-Quick Facts Applicable large employers (ALEs) that do not offer affordable health coverage to their full-time employees may be subject to penalties, beginning in 2015. New IRS guidance increases the affordability percentage from 9.5 percent to 9.56 percent for 2015. ALEs should review whether their health plans comply with the increased percentage. Click here to read the full legislative brief! &nb ...
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Determining Individual Mandate Penalty Cap
Posted on: August 11, 2014Categories: HR & ComplianceMost indiviuals are required to have health insurance coverage for themselves and their family members. This rule took effect in 2014 under the Affordable Care Act (ACA) and is often referred to as the individual mandate. If an individual doesn't meet the mandate then there is a penalty. The penalty amount is capped at the annual national average bronze plan premium. The Internal Revenue Service (IRS) released a Revenue Procedure that provides these monthly national average premium for bronze le ...
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Silver Fox 5K Trail Run
Posted on: August 8, 2014Categories: News & EventsAre you looking for something to do this weekend? Try participating in the Silver Fox 5k Trail Run! This is an annual race that is held as a fundraiser for the Dutch Fork High School Cross Country teams. It will be held at 5065 Bush River Road in Columbia, South Carolina this Saturday, August 9th, 2014. The race is 5 kilometers long which is equivalent to about 3.1 miles. The course is mostly flat but has some roots and rocks. Also there is one steep hill at the beginning of the race. This is a ...
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Variable Hour Employees
Posted on: August 7, 2014Categories: HR & ComplianceBased on the facts and circumstances at the employee’s start date, the employer cannot determine whether the employee is reasonably expected to be employed on average at least 30 hours per week because the employee’s hours are variable or otherwise uncertain. Factors to consider in this determination include, for example: Whether the employee is replacing an employee who was a full-time employee or a variable hour employee; The extent to which hours of service of for employees in the sa ...
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Summer Health Concerns
Posted on: August 6, 2014Categories: LiveWell 24/7When the weather starts heating up during summer many health concerns start to increase as well. People like to get outdoors in the summer and participate in many types of activity, however there are some things to be aware of as you enjoy your summer. These are some of the most common health concerns seen during these months. 1. Be Aware of Stings- There is an abundance of bee stings, other stinging insects and mosquito bites during summer. While most people experience a stinging sensations, a ...
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Overview of the 90-day Waiting Period Limit
Posted on: August 5, 2014Categories: HR & ComplianceA waiting period is the period of time that must pass before coverage for an employee or dependent who is otherwise eligible to enroll in the plan becomes effective. An employee or dependent is otherwise eligible for coverage when he or she has met the plan’s substantive eligibility conditions. Under the ACA, group health plans and health insurance issuers offering group health insurance coverage may not apply a waiting period that exceeds 90 days. Thus, after an individual is determined to be ...
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Employer and Insurer IRS Reporting Forms
Posted on: August 4, 2014Categories: HR & ComplianceThe Internal Revenue Service (IRS) has released drafts of the forms for reporting health insurance coverage offered by applicable employers and for reporting minimum essential coverage of self-insured plans by insurers and employers. Employers are encouraged to report their coverage information in 2015 for the 2014 year although they aren’t required to do this until 2016 reporting for 2015. Employers and insurers of self-insured plans ...
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SC Tax Free Weekend- What is Covered?
Posted on: August 1, 2014Categories: News & EventsToday kicks off South Carolina’s 15 annual sales tax holiday, commonly known as Tax Free Weekend. During this three day period, shoppers will be able to save up to 8% on a wide range of items such as back to school supplies and most clothing. Shoppers in South Carolina typically save an estimated $3 million according to the Department of Revenue. Many stores will be having great deals and may even have extended their hours for the weekend. This is a great opportunity to purchase any items for ...
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Employer Responsibility: Offering Required Coverage
Posted on: July 31, 2014Categories: HR & ComplianceLarge employers that do not offer affordable health coverage that provides minimum value to their full time employees may be penalized if any full time employee receives a subsidy through an exchange. Applicable employers include those with 50 or more full time employees, including full time equivalent employees (FTEs). Sections of the healthcare reform law that detail employer penalty requirements are known as the “employer shared responsibility” provisions or the “pay or play” rules ...
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Workplace Wellness Programs
Posted on: July 30, 2014Categories: LiveWell 24/7Did you know approximately half of U.S. employers who have over 50 total employees sponsor a workplace wellness program? These programs are intended to promote and initiate health and fitness typically in the workplace and as a result improve employee health and decrease health related costs for employers. Wellness programs can effectively improve employee health and provide a good return on investment (ROI) as long as appropriate steps are taken to ensure the correct program is being put into ...
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Defining Essential Health Benefits
Posted on: July 29, 2014Categories: HR & Compliance[caption id="attachment_8828" align="alignnone" width="248"] "The Affordable Care Act provides that essential health benefits mus include items and services within at least the following 10 categories (listed above)."[/caption] The Affordable Care Act (ACA) directed the Department of Health and Human Services (HHS) to provide detail as to which items and services are considered essential health benefits (EHBs). In December of 2011, HHS released a new bulletin regarding this request however th ...
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Federal Courts Issue Inconsistent Rulings on Subsidies in States with Federal Exchanges
Posted on: July 28, 2014Categories: HR & ComplianceThe Affordable Care Act (ACA) created subsidies in order to help eligible individuals and families purchase insurance through an exchange by reducing their out-of-pocket premium. There are two federal health insurance subsidies available when accessing coverage through an exchange. First, there are premium tax credits which reduce out-of-pocket premiums costs for the tax payer. These are typically available to people with higher incomes. The other type of subsidy is cost-sharing reduction whic ...
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Columbia Area Events- Hot Summer’s Night 5K
Posted on: July 25, 2014Categories: LiveWell 24/7If you are looking for something to do in Columbia area next weekend then try participating in the Hot Summer’s Night 5K Road Race & Youth Fun Run! The event will take place next Saturday, August 2nd. This is great for the family or for individuals because there are different races to participate in. There is a 5K (3.1 miles) you can walk or run and there is a youth fun run which would be perfect for the kids! If you are interested in this event there is more information below. Name of ...
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Am I Required to File a Form 5500 or 5500-SF for my Employee Benefit Plan?
Posted on: July 24, 2014Categories: HR & ComplianceAdministrators of ERISA employee benefit plans are required to file an annual Form 5500 or 5500-SF, unless a reporting exemption applies. More specifically, if you are the administrator of a profit sharing plan, stock bonus plan, money purchase plan, 401(k) plan, defined benefit plan, certain 403(b) plans or a welfare benefit plan, generally you must file a Form 5500 or 5500-SF for the plan each year. Certain welfare benefit plans are exempt from all or part of the Form 5500 series reporting ...
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Preventive Care
Posted on: July 23, 2014Categories: LiveWell 24/7Did you know that 7 out of 10 Americans die every year from chronic diseases such as heart disease, diabetes and cancer? In fact, in the year 2010 seven out of the top 10 leading causes of death in American were chronic diseases. The top two, heart disease and cancer, accounted for almost half of all deaths alone. So it is pretty evident that chronic disease has become quite common around our lives. But did you know that it is also preventable? That’s right! Chronic disease can be prevented ...
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July 2014 Health Care Reform
Posted on: July 22, 2014Categories: HR & ComplianceBeginning in 2014, the Affordable Care Act (ACA) establishes the following three risk-spreading programs to provide payments to health insurance issuers that cover higher-risk populations and to more evenly spread the financial risk carried by issuers: a transitional reinsurance program, a temporary risk corridor program and a permanent risk adjustment program. The transitional reinsurance program is intended to help stabilize premiums for coverage in the individual market during the first thre ...
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