IRS Reaffirms ACA’s Employer Mandate

Matt PfeiffenbergerHealth Benefits, News

By David J. Ledermann, Esq., Barley Snyder While the long-term future of the Affordable Care Act may be in doubt, the law’s application to employers remains largely unaffected by recent political developments. Information letters recently released by the IRS Office of Chief Counsel, responding to inquiries about the status of the ACA’s employer shared responsibility requirements (the “employer mandate”), emphasize that these requirements remain effective. Therefore, an “applicable large employer” (an organization, or group of related organizations, that averaged at least 50 or more full-time equivalent employees in the prior year) could face penalties for failing to offer adequate health coverage to full-time employees and their non-spouse dependents. The IRS information letters indicate that no waivers under the employer mandate …

Private Owners, Firms Might Have to Invest More In Construction-Labor Education

Joshua EtemadiBonds, Construction

Ask commercial developers in a major market to name their biggest challenges, and the rising cost of construction will be at or near the top of the list. But while the complaints have grown louder in recent years, the underlying problem has been decades in the making, and the current administration’s policies only figure to make it worse. Read the full article >>>

Take Steps to Protect Against Violations of Federal Contracting Rules

Joshua EtemadiBonds, Construction

The U.S. government appropriated $120 billion for federal construction spending in 2017, covering a range of projects from the construction of a new Federal Bureau of Investigation headquarters to building agricultural research facilities, according to the Associated General Contractors of America. President Donald Trump’s 2018 budget proposal, even with its cuts to key federal spending programs and new funds for a U.S.–Mexico border wall, calls for roughly the same level of investment. Tell me more >>>

3 – Offering Life Insurance: Benefits to You and Your Employees

Mary LyonsInsurance, Voluntary Benefits

Part 3 of a 3 part series… Benefits to Employers Tax treatment – Premiums for life insurance offered by the employer are generally deductible as ordinary and necessary business expenses (unless the employer is the beneficiary of the policy). In addition, the cost of employer-provided group-term life insurance is excludable from the employees’ gross income (up to $50,000 of coverage). The plan must meet special nondiscrimination rules, however, or key employees may not be eligible to exclude the cost of their coverage from their gross income. Benefits for Employees Though life insurance is an important asset for future financial security, many employees don’t realize its importance. Teaching employees about the value of life insurance may increase loyalty to the company …

2 – Offering Life Insurance Benefits: Term and Permanent

Mary LyonsInsurance, Voluntary Benefits

Part 2 of a 3 part series… Types of life insurance Life insurance is one of the most common employer-provided benefits, and is divided into two categories: term and permanent. Term life insurance has a specified coverage period (term), but can usually be renewed or converted into a permanent policy at the end of a term. Premiums are generally affordable initially, but can increase substantially when renewed. Permanent life insurance is life-long coverage that generally also includes a cash value savings component. There are many types of permanent life insurance, including whole, universal and variable. This type of coverage has higher premiums, but offers more long-term value. Employer-sponsored coverage Employer-sponsored coverage can be offered in a variety of ways. Employers …

1 – Offering Life Insurance Benefits: The Basics

Mary LyonsInsurance, Voluntary Benefits

Part 1 of a 3-part series… Though life insurance is an important asset for future financial security, many employees don’t realize its importance. Teaching employees about the value of life insurance may increase loyalty to the company as they better appreciate this benefit. Factors to consider When deciding to offer life insurance as an employee benefit, there are a number of factors to consider: What type of coverage will you offer? Will you offer term insurance, permanent or both? Who will be covered (employees only, retirees, spouses, dependents)? Note: Only employees can be covered under a group-term policy. When is coverage effective? Will there be a waiting period? What amount of insurance will be available? How will that amount be …

Electronically Submit OSHA Injury Data August 1

Matt OlphinRisk Management

OSHA’s Injury Tracking Application will be available Aug. 1, allowing employers to electronically enter their required 2016 injury and illness data from Form 300A, the agency announced July 14. The Improved Track of Workplace Injuries and Illnesses final rule went into effect Jan. 1. The initial compliance deadline was July 1, but OSHA has proposed delaying that deadline until Dec. 1. For more information>>> If you have any questions, contact Matt Olphin, CSP, ARM, Vice President, Risk Control Services at 717.397.9600, ext. 1257.

Senate Votes to Move on to ACA Repeal and Replace Debate

Matt PfeiffenbergerHealth Benefits, Large Group Benefits (100+), News

This summary is provided by the Health Benefits Solutions team at Murray. Source: Joel Kopperud, Vice-President, Government Affairs Council of Insurance Agents and Brokers (CIAB) On Tuesday afternoon, July 25, the Senate voted 51-50 to open debate on ACA repeal-and-replace legislation! Vice President Pence cast the tie-breaking vote with Senators Susan Collins (R-ME) and Lisa Murkowski (R-AK) opposing the measure. This is a procedural vote that allows the Senate to now vote on a series of amendments which will ultimately determine what the replacement legislation will look like. There will most likely be a vote on 3 amendments: Senator Rand Paul’s (R-KY) amendment to fully repeal the ACA Senator Ted Cruz’s (R-TX) amendment to allow for “skinny” insurance plans Senators …

Creating a Safety Program

Matt OlphinRisk Management

Hello, and welcome to the Murray video blog. To create a safety incentive program that aligns with the Occupational Safety and Health Administration’s current views on incentives and mitigates risk, review the approaches OSHA discourages and the ones it and other organizations like the National Safety Council recommends. OSHA isn’t fond of programs that offer incentives to employees, departments, management, or locations for avoiding incidents over a specified period. Due to these program’s outcome-oriented nature, employees could avoid reporting accidents, and managers could pressure employees not to report, so they keep their bonuses. Instead, incentivize employees and management for identifying hazards. Also, offer rewards for participation and leadership in safety programs. The word is still out on whether new approaches to safety incentive …