This Article Includes: Final Wellness Regulations Providing Clarification; Increasing Permitted Rewards, Form 720 Revised to Accommodate the Payment of the PCORI Fee, Final SHOP Regulations Bring View of Future Exchanges into Focus, Questions and Answers for Employers
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Organizations across the U.S. are finding themselves dealing with a unique phenomenon that few had anticipated, let alone prepared for―how to deal with an aging workforce. The primary “culprit” in this is the “Baby Boomer Generation,” which includes those born from 1946 to 1964. The overall medical severity tends to be higher for older workers than younger workers across all diagnoses.
The Internal Revenue Service (IRS) released Notice 2013-71 which modifies the use-or-lose rule for health FSAs offered under a cafeteria plan. Pursuant to this guidance, beginning in 2013, employers are permitted, but are not required, to include a provision in their cafeteria plan that allows up to $500 of unused health FSA funds to be carried over to the following plan year.
Directions newsletter is a monthly publication of the Benefits & HR Consulting Division of Arthur J. Gallagher & Co. The June 2013 issue includes healthcare reform updates, benefit trends and surveys, upcoming webinar information and a variety of benefits and HR news including: Wellness in the Land of Confusion; 10 Essential Facts About the Affordable Care Act, Dental and Vision Benefits; and Strategies for Coping With a Wage and Hour Audit.
Reda and Schmidt write that investors and business media are vexed about rich executive pay plans, but golden parachute severance packages stir particular outrage. How can boards design severance plans to withstand public scrutiny? (The Corporate Board, 05/2013)
Reda, Schmidt and Glass note that the role of stock options in a long-term incentive (LTI) program has diminished over the last 10 years. While the authors see stock options continuing to play a role in a typical LTI program, they note that performance measures also continue to adapt to the business climate and individual company business objectives. (Journal of Compensation & Benefits, 05/2013)
Fire prevention and the safety in the workplace is critical to protecting co-workers and reducing potential financial losses for the company. Planning, documentation, continual identification of risk exposures and training are just some of the significant aspects to address in fire prevention.
(Spanish Version - A Minute for Safety: Fire Safety) Prevención de incendios y la seguridad en el lugar de trabajo es fundamental para la protección de los trabajadores y reducir las posibles pérdidas financieras de la empresa. Planificación, documentación, continuando la identificación de los riesgos y de la formación son sólo algunos aspectos importantes para abordar en la prevención de incendios.
This Article Includes: Regulators Issue Much Anticipated Guidance on the Notice of Exchanges (Marketplaces) to Employees, IRS Releases Proposed Regulations on Minimum Value and Affordability for Wellness Programs, HSAs and HRAs, Departments Release FAQs Offering SBC Guidance and Update Templates, Certificates of Creditable Coverage Are Going Away! -But Not Yet, New PPACA Implementation FAQs Offer Guidance on Range of Issues Including Clinical Trials, HHS Attempts to Simplify Individual and Family Applications for Marketplaces, CMS Sets Termination Dates in Anticipation of ERRP Wind Down, GBS Benefits Strategy and Benchmarking Survey Closes on May 17, Questions and Answers for Employers
Technical Bulletin-DOL Issues Guidance Adopting ‘State of Celebration’ Approach for Same-Sex Spouses
The Supreme Court of the United States ruled that section 3 of the Defense of Marriage Act (DOMA) is unconstitutional. They concluded that section 3 of DOMA “undermines both the public and private significance of state-sanctioned same-sex marriages” and found that “no legitimate purpose” overcomes Section 3’s “purpose and effect to disparage and to injure those whom the state, by its marriage laws, sought to protect.” The guide highlights this decision.