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News:
In Health Care, all Individuals Are Active
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Congress has the
authority to make people take action to buy health coverage because
the health care market is different from most other markets,
according to a 3-member panel at the 6th U.S. Circuit Court of Appeals.
One judge on the
panel, James Graham, has agreed with the majority on procedural
matters but has concluded that the mandate
is unconstitutional.
Members of
Congress and others are trying to repeal or block all or part of this
legislative coverage.
FOR MORE INFO
PLEASE CLICK HERE
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IRS Announces Increase in Standard Mileage Rates
Effective July 1, 2011
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The Internal
Revenue Service has announced an increase in the standard mileage rates
for the final six months of 2011. Taxpayers may use the optional
standard rates to calculate the deductible costs of operating an
automobile for business, medical, or moving
expense purposes and for determining employee reimbursement.
Revised
Standard Mileage Rates
The rate
will increase to 55.5 cents a mile for all business miles
driven from July 1, 2011, through Dec. 31, 2011. This is an increase
of 4.5 cents from the 51 cent rate in effect for the first six months
of 2011.
The new
six-month rate for computing deductible medical or moving expenses
will also increase by 4.5 cents to 23.5 cents a mile, up from
19 cents for the first six months of 2011.
The rate for
providing services for charitable organizations is set by statute,
not the IRS, and remains at 14 cents a mile.
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Introducing
HealthFirst Benefits
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HealthFirst Benefits, based out of
Berwyn, Pa is a results based broker. We
concentrate on helping our clients to get control over the rising
cost of providing benefits for their employees. Market dynamics and
recent legislation have directly impacted rates. Health insurance
premiums are expected to increase. In order to offset the pressure on
rates, we implement proven, documented programs that will reduce the
expense of providing benefits. This is done by offering a full range
of options. These options are:
-
Fully Insured plans
-
Consortium and Captive plans
-
Self Insured plans
- Wellness and Advocate Programs
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HealthFirst clients are saving 10%
to 30% over their previous rates. These savings are significant.HealthFirst delivers innovative
programs that achieve the desired outcome without cost shifting or
decreasing benefits to the employee. The group programs include
medical, dental, disability, life products and retirement plans. For
further information and a no obligation consultation, contact Brian McElwee at 610-727-5214.
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News for employeeMAX clients
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We strive to provide our clients with pertinent
information on our Company, the Payroll Industry, and other Human
Resource information.
In particular, in this issue, we discuss the Health
Care Reform News, New Standard Mileage Rates, and our ongoing
feature article from our benefits partner, The Business Benefits
Group (BBG) Fairfax
VA.
On behalf of the entire
EMPLOYEEMAX team, I thank you for your business and we look forward
to providing you with superior payroll and HR services and exceeding
your expectations.
Sincerely,
Bob Curran, President
& CEO
Upcoming
Classes
Report
Writer 08/11/2011 11
AM ET
09/15/2011 11 AM
ET
HR
& Benefits Class
07/28/2011 11 AM ET
08/18/2011
11 AM ET
09/29/2011 11
AM ET
To
register or for more information, please contact Bobbie Smith at Bobbie.Smith@EmployeeMax.com
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Health
Care Reform Update: Application Process for Annual Limit Waivers to
Conclude September 22
Business
Benefits Group
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The Centers for Medicare and Medicaid Services
(CMS) has announced that, after September 22, 2011, no new
applications or requests for extensions of waivers from the
Affordable Care Act's annual limit restrictions will be
considered.
Background
The Affordable Care Act generally prohibits group
health plans and health insurance issuers offering group or
individual health insurance coverage from imposing lifetime or annual
limits on the dollar value of health benefits, but allows
"restricted annual limits" with respect to essential health
benefits for plan years (in the individual market, policy years)
beginning before January 1, 2014. No annual dollar limits on
essential health benefits are permitted with respect to plan or
policy years beginning on or after January 1, 2014 (except in the case
of grandfathered individual market policies).
Extension of Existing Waivers and New Applications
Accepted Through September 22nd
A group health plan or health insurance issuer that has received a
waiver of the restricted annual limit of $750,000 for a plan or
policy year beginning on or after September 23, 2010, but before
September 23, 2011, may elect to extend its existing waiver until
January 1, 2014 by following the procedures set forth in the new
guidance. Additionally, a group health plan or health insurance
issuer eligible to apply for a new waiver may apply for a waiver
approval that will be effective until January 1, 2014 by following
the procedures explained in the guidance.
The deadline for receipt of waiver extension forms and
new waiver applications is September 22, 2011. Elections for a waiver
extension or waiver applications received after September 22, 2011
will not be accepted. Plans or issuers that do not elect a waiver
extension or that do not receive a waiver approval will be required
to come into compliance with the annual limit restrictions.
Additional
Requirements Imposed for Waiver Recipients
Under the guidance:
- Health plans with
waivers are required to tell consumers that their health care
coverage is subject to an annual dollar limit lower than what is
allowed under the law.
- Insurers must include
the dollar amount of the annual limit along with a description
of the plan benefits to which the limit applies.
- Plans also must show
how the annual limit would affect a consumer who was
hospitalized to help people understand how far their coverage
will reach if they become seriously ill.
- Plans with waivers
must attest annually to their compliance with the consumer
disclosure requirement.
The
guidance provides the exact language waiver recipients must use and
the required font specifications. Written permission must be obtained
from the Center for Consumer Information & Insurance Oversight
(CCIIO) to use different language.
For
More Information
To read the newly published guidance in its entirety, please
Click
Here
BBG, offering a full line of services from
integrated HRIS to full business insurance products, is a proud
Payroll Partner with Employer Services Online. For
further information, please contact Anthony Stefanakis 703.385.7200
ext 101 or toll free at 877-785-7200 ext 101. You can also email Anthony at Anthony@bbgbroker.com.
Feel free to visit BBG's websites at www.bbgbroker.com
and www.bbghr.com.
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Ways You May Get
Nicked By Bank Fees
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New legislation
limits the amounts that banks can charge for certain types of fees, so
banks are adding new charges to make up for lost revenue.
While you
may not be able to avoid all new bank fees, being aware of fees for
your banking services may help you choose which products and services
to use.
One of the sneakiest new
bank fees is one that some institutions are planning to charge for
the use of mobile banking applications on your smartphone. It's
sneaky because some banks will work with wireless carriers to add the
fees to users' wireless charges rather than including them in your
bank statement.
New caps on
fees to process debit card transactions, which go into effect July
21, mean that banks will be making less money on each debit card
transaction. To make up the difference, some banks are considering
new debt card changes. These might include annual fees on debit
cards, eliminating debit card rewards, charging higher withdrawal
fees at ATMs for noncustomers, and capping the number or size of
transactions you can make on your debit card.
Thanks to new Federal
Reserve rules, if you opt in, banks will cover your transaction for a
flat fee each time you overdraw your checking account through the use
of a debit or ATM card. Those bank fees, which run between $25 and
$45 for major banks, can add up.
With all these changes
taking place, it is always advisable to check with your bank to
assure you will not be receiving new charges or, if a bank is adding
them, check what you can do to avoid them.
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We Appreciate Your Referrals
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Employer Services
Online would like to thank you for being a valued customer. We
appreciate your business and enjoy servicing your payroll and HR
needs. In addition to building relationships throughout our
business communities, referrals are the heart of
ESO. The biggest compliment we can receive is having
our existing clients refer us to others, so if you have enjoyed the EmployeeMAX experience and savings, we would
appreciate you telling others! Thank you again for your
continued commitment to Employer Services Online.
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