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Makenzie Chansamoeun, Benefits Manager

Penalties Sky Rocket for ACA Reporting Errors

The Affordable Care Act (ACA) just got more expensive for employers who fail to report accurate and timely information for the employer mandate of the ACA, and 2015 isn’t even over yet. Beginning in 2016 when “applicable large employers” (ALEs) have to report about the 2015 calendar year, employers could face up to a maximum calendar year penalty of $3,000,000,…

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Supreme Court Upholds Tax Subsidies for ACA

The Supreme Court [recently] announced that it had ruled in favor of the Obama administration in the case called King v. Burwell. The Supreme Court’s decision (by a 6-3 vote, with Chief Justice Roberts writing the opinion) confirms that tax credits used to subsidize the cost of health insurance coverage for low-income individuals who purchase coverage will be available through…

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2015 FSA and HSA Open Enrollment

The month of November is Open Enrollment for the Section 125 Flexible Spending Plan (FSA), and electing contributions to a Health Savings Account (HSA).  The effective date for the enrollment is January 1, 2015.  Open enrollment is the only time, barring qualified life events, when eligible, full-time employees can enroll in FSA benefits for the new calendar year.  Benefits include:…

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NBS Announces Enhancements to Flexible Benefit Systems

National Benefit Services (NBS) is excited to announce upcoming enhancements to its flexible benefit systems on September 1st of this year! Some of the new tools include: Mobile App for Participants View up-to-date balances Submit claims right from your smart phone Receive alerts concerning your benefit accounts New and easy to use NBS web portal as the Plan Sponsor Interact…

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What do I do with the rebate check for employee health insurance?

If you have already renewed your group health insurance plan in 2014, you may have received a premium *rebate check for employee premiums. If your company pays 100% for all employee and all dependent premiums, then the company can keep the rebate (although it must be used toward the benefit of those enrolled in the health plan). However, if employees…

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Featured Benefit: Life Insurance and EAP

Supplemental Life Insurance Life Insurance can help provide financial security for your loved ones in the case of your untimely death. Who depends on you and what hardships would they face if you were suddenly gone? These are often uncomfortable questions to answer, but with our Mutual of Omaha LIfe Insurance plan, you know you and your loved ones are covered…

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