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
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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
Boost Your Mental Well-being During These Uncertain Times
While experiencing stress or anxiety over the health and economic fears brought on by COVID-19 is normal, if you don’t take steps to cope with these feelings, you can put yourself at risk for long-term health effects.
Summer heat can be more than uncomfortable—it can be a threat to your health, especially for older adults and children. Whatever your age, don’t let the summer heat get the best of you.
Socially Distance Yourself This Summer
You’ve probably heard the term “social distancing” a lot in the past few months. Keeping your distance from others has been crucial to slowing the spread of COVID-19. It will also be a key component in staying healthy as things continue to reopen.
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 Holiday Favorites
Grilled Sausages, Charred Corn Salad, Mini Stars Berry Pies
Get all the favorite Fourth of July recipes and Directions here
Monthly compliance updates, expertise and health and wellness tips - courtesy of JA BENEFITS.
