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Do you fear COBRA? If not, maybe you should?

Noncompliance with COBRA laws could result in astronomical penalties, legal fees, and other expenses.  Consider this: A maximum of $110 penalty per affected participant or beneficiary per day from the date the noncompliance started. Personal liability imposed on plan administrators.  It is not unheard of for COBRA violations to cost a company thousands

Avoid IRS Reporting Penalties

The 6055 and 6056 tax filing has many employers up in arms for the upcoming tax filing. The increased penalty amounts announced in July are alarming. A single 1095-C form violation could result in a penalty of $500 per form, with no cap if the employer shows intentional disregard —

Most Employers Unprepared for Health Care Law Reporting

The majority of employers have not yet implemented a strategy to comply with new reporting requirements under the Federal health care reform law that took effect earlier this year. According to a recent survey conducted by PricewaterhouseCoopers LLP and Equifax Inc. only 10% of 480 employers surveyed indicated that they already

$36,500 per employee, per year, nondeductible!

The IRS has threatened employers with ACA penalties of $100 per day, per employee, and non deductible or $36,500 per employee.  This makes those $2,000 and $3,000 penalties look diminutive. Employers who maintain a "non-integrated" employer payment plans would be subject to these penalties.   These would include HRAs, excluding retiree-only

Determining your Common Law Employees to Comply with the ACA

Compliance with the Affordable Care Act just got a little more demanding for employers – determining which of your employees are full-time and which are not is now a major portion of the final Affordable Care Act regulations published February 2014 in the Federal Register. In order to determine whether an

Current or Former Ullico Casualty Work Comp Policyholders

Your Mod is at Risk As you may already know, Ullico Casualty Insurance Co. has been placed in liquidation and the Department of Insurance for the State of Delaware is currently handling this liquidation. Unfortunately, claims and payroll information for the various businesses that Ullico insured is not being sent to the

Why employees need to be educated about Obamacare?

Benefit education has long been considered a key component of a successful employee benefit program. However, engaging employees and helping them recognize the value of their program is not easy. It takes ongoing efforts of HR managers with support from senior management. The Affordable Care Act creates another new wrinkle for