Monthly Newsletter August 2018
Dear Valued Clients and Associates, I hope you have been enjoying the warm Summer months and have had the opportunity to take a little bit of time to relax and recharge. Don’t have enough time to get everything done and take time to relax? Let us help – PF Compass offers our clients free benefits administration technology and HR tools to help increase compliance, minimize employer workload and improve your bottom line. Here is your August 2018 Newsletter with a combination of HR and Health related news. I hope you enjoy! Summary Annual Reports Due Sept. 30 Health plans with 100 or more plan participants at the beginning of a plan year are generally required to furnish a Summary Annual Report (SAR) to each health plan participant within 9 months after the end of a plan year. As a result, the deadline for most calendar year plans...
read moreMonthly Newsletter July 2018
Dear Valued Clients and Associates, We hope you have a relaxing and enjoyable 242nd Independence Day! It looks like it’s going to be a hot one so don’t forget to hydrate! July comes with some important deadlines your organization may be subject to – read below and let us know if you have any questions or need help navigating. Here is your July 2018 Newsletter with a combination of HR and Health related news. Enjoy! Form 5500 Filing Deadline for Many Health Plans is July 31 Group health plan administrators are reminded that Form 5500 must be filed with the U.S. Department of Labor (DOL) by the last day of the seventh month after the plan year ends. For calendar-year plans, that due date falls on July 31. Who must file form 5500? In general, all group health plans covered by the Employee Retirement Income Security Act...
read moreMonthly Newsletter June 2018
Dear Valued Clients and Associates, The weather is warming up and summer is just around the corner! Employers have been receiving various types of IRS Letter 227; We are helping clients decipher their Affordable Care Act notices. Here is your June 2018 Newsletter with a combination of HR and Health related news. Enjoy! 2019 HSA and HDHP Limits Released The Internal Revenue Service (IRS) has announced the 2019 inflation-adjusted amounts for Health Savings Accounts (HSAs) and high deductible health plans (HDHPs). 2019 HDHP Amounts For calendar year 2019, the annual limit on HSA contributions for an individual with self-only coverage under an HDHP will be $3,500, up from $3,450 for 2018. The annual limit on HSA contributions for an individual with family coverage under an HDHP will be $7,000, up from $6,900 for 2018. 2019 HDHP Ammounts For calendar year 2019, an HDHP will be defined as...
read moreMonthly Newsletter May 2018
Dear Valued Clients and Associates, I am excited to announce that I have joined PF Compass as a Licensed Benefits Consultant. With a track record of satisfied clients for over 35 years, I am thrilled to be part of this dynamic team. We provide the same services and expertise as larger broker agencies, but with higher attention to your satisfaction. To carry on the tradition of helping to keep you informed, here is your May 2018 Newsletter with a combination of HR and Health related news. FAQs on Paid Family and Medical Leave Tax Credit Internal Revenue Service has released FAQs on the Paid Family and Medical Leave Tax Credit, which certain employers can soon claim based on wages paid to employees on family and medical leave. The tax credit is effective for tax years 2018 and 2019. Among other questions, the FAQs answer: Which employers can...
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