Employee Benefit Guidance & Compliance Solutions

Posts Tagged "Brandi Bowers"

January 2020 Newsletter

By on Jan 1, 2020 in Newsletters | 0 comments

Dear Valued Clients and Associates, Happy New Year and best wishes to you all for everything you strive for in 2020! While folks are wrapping up year end, preparing for tax deadlines and setting goals for the new year, my goal is to make your life easier. With that said, what better way to kick off the new year than with a reminder of some compliance updates for 2020! Read on for some changes to be aware of this year. Did you know PF Compass has held a 98% retention rate for over 20 years? If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your January 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     2020 – New Rules for Salaries and Wages By Maggie Johnson, HR Consultant As we start the new year, there are a number of changes in employment law affecting the payment of salaries and wages by New York and New Jersey employers. Here’s an overview of the new regulations. Read More Here     Upcoming Group Health Plan Compliance Dates Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. Listed below are upcoming important compliance deadlines for employer-sponsored group health plans, organized chronologically. For these requirements, the information provided herein shows the deadlines that apply to calendar year plans. For non-calendar year plans, these deadlines will need to be adjusted to reflect each plan’s specific plan year. January 2020 Employers that filed 250 or more IRS Forms W-2 for the prior calendar year must file Forms W-2 with the Social Security Administration and furnish Forms W-2 to employees by Jan. 31 of each year, unless an extension applies. February 2020 ALEs that sponsor fully or self-insured health plans are required to report information about the coverage to the IRS each year, using IRS Forms 1094-C and 1095-C. Employers that are not ALEs use IRS Forms 1094-B and 1095-B to meet these reporting obligations. The deadline for filing paper versions of the forms is Feb. 28, 2020. The deadline...

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December 2019 Newsletter

By on Dec 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, Happy Holidays!! This November and December have been a couple of the busiest, most exciting months of my career. With multiple new plans implemented for 2020 and so many wonderful opportunities to volunteer, meet new people and help so many organizations, I’ll be headed home to Maine for a couple days at Christmas with a heart full of gratitude. If you’d like to learn how we can help you reach your benefit and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your December 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! From all of us at PF Compass – We wish you a wonderful Holiday Season!     Getting Ready for Winter – Developing Your Inclement Weather Policy By Maggie Johnson, HR Consultant Winter will soon be here with all of the snowstorms, blizzards, and freezing weather that come with the season. Keeping a business running effectively during harsh weather can be challenging, but having an inclement weather policy can provide guidelines to employees about when they are expected to report to work and how they will be paid when stormy weather hits. Here are some things to consider when creating your inclement weather policy Read More Here     FSA Contribution and Other Benefits Limits Rise for 2020 The IRS announced an increase to flexible spending account (FSA) contribution limits for the 2020 plan year. Individuals can contribute $2,750 in 2020, up $50 from the previous year. Since this announcement came so late in the year, some employers may not use the updated figures in their benefits limits—as doing so would require an addendum. In fact, some employers have been known to use limits from the previous year because they cannot wait until this far into the enrollment season to release benefits materials. With that in mind, it wouldn’t be surprising if employers use the 2019 limits for their FSA plans in 2020. In addition to the FSA contribution limits, the IRS announced increases for transportation benefits and adoption services. Qualified transportation benefit limits (for parking or transit passes) increased to $270 for 2020. Maximum employer subsidies for qualified adoption expenses rose...

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Monthly Newsletter November 2019

By on Nov 6, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, With January rates finally available from the carriers, benefit strategy meetings are in full swing between employers and their brokers. Offering multiple medical plans coupled with ancillary and voluntary benefits may give you the edge in attracting and retaining top talent. To accomplish this, a smart employer contribution strategy is critical for your bottom line and we can help you find the balance! We’d love to learn about what is important to you and your organization and help you reach your benefit goals. If you’re open to a chat, give me a call today 732-258-1032. Here is your November 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! All the best to your success, Brandi Bowers     Employers Are Scaling Back Their Dependence On High-Deductible Health Plans By: Michelle Andrews for khn.org Everything old is new again. As open enrollment gets underway for next year’s job-based health insurance coverage, some employees are seeing traditional plans offered alongside or instead of the plans with sky-high deductibles that may have been their only choice in the past. Some employers say that, in a tight labor market, offering a more generous plan with a deductible that’s less than four figures can be an attractive recruitment tool. Plus, a more traditional plan may appeal to workers who want more predictable out-of-pocket costs, even if the premium is a bit higher. Read More Here     Using Voluntary Benefits to Entice Millennial Talent Millennials consistently cite elements like work-life balance and benefits packages as huge factors when considering employers. Salary, it seems, comes secondary in many cases. You can capitalize on this market shift by offering more imaginative and comprehensive perks to reel in millennial talent. A good place to start is with voluntary benefits. Here are some voluntary benefits to consider: Pet insurance Student loan repayment Identity theft insurance Elder care On-site daycare Offering even a few voluntary perks can signal to millennials that you’re taking their wants seriously and get them through the door.     The Rut is on! Beware of Deer on the Roads Drivers are urged to use extra caution and watch for white-tailed deer as deer...

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Monthly Newsletter October 2019

By on Oct 10, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, I just wrapped up 2.5 days at the Garden State SHRM conference in Atlantic City. I visited with some great vendors and attended some interesting break out sessions. The highlight for me was the closing Keynote speech by Dr. Richard Pimentel… and to think I considered leaving early… I’m so glad I stayed! Dr. Pimentel was inspiring. He told his story and shared gems of wisdom on leadership, character, the power of having someone believe in you, response-ability and chasing your dreams… all with an incredible sense of humor that had the crowd in stitches. His words struck a chord and have provoked a lot of thought. Don’t change your dreams to fit your circumstances, change your circumstances to fit your dreams, he advised… and that is just what I did when I chose to join PF Compass. I wanted to have a bigger positive impact on organizations with a client support team in which I have complete faith. Mission accomplished. We’d love to learn about what is important to you and your organization and help you reach your benefit goals. If you’re open to a chat, give me a call today 732-258-1032. Here is your October 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! All the best to your success, Brandi Bowers     Planning for Open Enrollment By: Maggie Johnson, PF Compass in-house HR Consultant As we go into the fall, most companies will begin the process for Open Enrollment. Open Enrollment for many employers will be held in November and sometimes into December of 2019 for the 2020 plan year. To ensure your Open Enrollment goes smoothly, here are some suggested tips… To read more, visit our BLOG here     Deadline Approaching: Medicare Part D Notices Are Due Before Oct. 15 Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2019. What is this notice? This notice is...

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Monthly Newsletter September 2019

By on Sep 13, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, All things fall are on their way – the kids are back in school, pumpkin spice lovers have their coffee and beer back in season, temps are dropping and the leaves are starting to change to the beautiful orange, yellow and red that make autumn picturesque. Many folks are starting to shift gears in preparation for third quarter and year end activities. Vendor evaluations for new year transitions and upgrades are under way, or at least, they should be soon. This is a great time to take a look at the benefits you are offering your workforce – are you and your employees getting the best bang for the buck on your health insurance policies? And when was the last time you benchmarked your 401k? We can help – no strings attached. We’d love to come meet you, learn about what is important to you and your organization and help you reach your benefit goals. Give me a call today 732-258-1032. Here is your September 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! All the best to your success, Brandi Bowers     Romantic Relationships in the Workplace By: Maggie Johnson, PF Compass in-house HR Consultant When two people spend a lot of time together, a romantic relationship may develop between them. In a recent survey by Namely, 40 percent of the survey’s participants indicated that they’d had a romantic relationship with a co-worker, with five percent of them having had a romantic relationship with their boss or a direct report. A 2017 CareerBuilder study showed 41 percent of professionals have dated a co-worker with 30 percent of office romances resulting in marriage. While a blooming romance may be a happy thing, in the workplace, it can spell big trouble! For a couple working alongside each other, and who are engaged in a romantic relationship, here are just three issues that could spring from that situation… To read more, visit our BLOG here     2020 Open Enrollment is Almost Here To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan...

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