COMPLIANCE CHECK
what you need to know
Summary of Material Modifications – No Material Reductions
Under the Employee Retirement Income Security Act (ERISA), an SMM must be provided when there is a material change in the terms of the plan or any change in the information required to be in the summary plan description (SPD). Employers should communicate plan changes to participants as soon as possible to help avoid benefit disputes. When plan changes will take effect at the beginning of the upcoming plan year, employers may decide to include the SMMs in their open enrollment materials, if applicable.
Report and Pay PCORI Fees (self-insured plans only, including HRAs)
Employers with self-insured health plans must pay an annual fee to fund the Patient Centered Outcomes Research Institute (PCORI). Self-insured health plans that are subject to PCORI fees include self-funded medical plans, as well as HRAs that are offered in conjunction with fully insured group medical plans. HRAs that are offered with self-insured group medical plans are not subject to separate PCORI fees if both the HRA and the self-insured medical plan have the same plan sponsor and the same plan year. Employers use IRS Form 720 to report and pay PCORI fees each year. These PCORI fees are due each year by the July 31 of the year following the last day of the plan year. The fees apply to plan years ending on or after Oct. 1, 2012, and before Oct. 1, 2029 (updated from Oct. 1, 2019 by a December 2019 federal law).
STAYING HEALTHY IN THE WORKPLACE
Bringing the knowledge of our in-house experts right to you...
In 2018, employers across the country have continued to go above and beyond to focus on employee wellness. While you likely know that workplace wellness programs offer many benefits to organizations and individuals, such as reduced absenteeism and health insurance costs, the impact of these programs on an employee’s productivity may surprise you. Examples include more attention and devotion toward adequate sleep, mental health and concentrating on creating more personalized health experiences.
“Many organizations are including wellness programs as part of their overall benefits package,” said Sandi. “the average employee spends just as many waking hours at work than at home”, meaning wellness in the workplace is constantly in demand to break the monotony that often goes on within the four walls of a business.”
Live Well, Work Well
Health and Wellness Tips for your work and life
Grilling Safety Tips
As warmer weather hits, the smell of food on the grill fills the air. According to the National Fire Protection Association, nearly 9,000 home fires each year involve grills, so it’s important to brush up on barbecue safety.
How to Reduce Your Food Waste
According to the U.S. Environmental Protection Agency, the average American produces about 219 pounds of food waste each year.
HOW DO EMPLOYERS PREVENT THE SPREAD OF COVID-19 IN THE WORKPLACE?
Taking precautions against the coronavirus is critical to reducing the spread of the virus, especially since there is no known vaccine for a human-contracted coronavirus. Employers should protect against coronaviruses much like they protect against the flu.
Dish Featuring Chris Johnson
Pancakes, bacon, eggs and local, roasted coffee and East Port Marina
Pancakes, bacon, eggs and local, roasted coffee
Directions
“There’s no directions needed! Just round up the youngest cooks in your household, let them whip up the pancake batter, and together make some awesome Mickey Mouse pancakes!”
East Port Marina
Instead of going out to any particular restaurant, Chris prefers to take a 20-minute boat ride out to a small, family-owned marina (East Port Marina), where he and his family can pick out their favorite ice cream treat. Then, treats in hand, they love to take a slow cruise back home as the sun sets in the Tennessee hills.
Monthly compliance updates, expertise and health and wellness tips - courtesy of JA BENEFITS.
