By: Jim Kinney, Integrated Benefits Practice Lead at Digital Benefit Advisors
Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors, and increase employee satisfaction—all with little impact on your budget. While employers may choose to offer numerous types of voluntary benefits that can deliver convenience and value for employees, many employees do not understand the advantages of these voluntary benefit options, or are unclear how they work. Educate your employees on the advantages of these voluntary benefits so that you both reap the rewards. Continue reading Educating Employees on Voluntary Benefits
The last time you watched TV, how many times did you see a commercial from a pharmaceutical company? Perhaps you’ve seen an advertisement for Humira, Harvoni , Tecfidera or one of the many other specialty medications. You know what I’m talking about – the commercials that seem to air so often that you are able to memorize the script, along with the laundry list of side effects, like your favorite song on the radio. What consumers rarely think about is the impact that these advertised specialty medications can have on a company’s budget and employee benefit plan offerings. And believe me – the effects are huge. Continue reading Could the “Patent Cliff” Result in a Company’s Inability to Overcome a Financial Mountain?
Spring is in the air and the days are getting longer! With the anticipation of longer days and warmer weather, it’s also exciting to see March’s month-long national health observances. What might your organization focus on in March?
- Athletic Training Month
- Brain Injury Awareness Month
- Child Life Month
- Colorectal Cancer Awareness Month
- Eye Donor Month
- Kidney Month
- Nutrition Month
- Professional Social Work Month
- Save Your Vision Month
- Workplace Eye Wellness Month
Continue reading March is National Nutrition Month
Q. Does an employer need to complete Form 1095-C for an employee who terminates employment mid-year causing a COBRA qualifying event?
A. Yes, Form 1095-C is required to be completed in the year that an employee terminates. When employment termination is the COBRA-qualifying event, COBRA is never reported as an offer of coverage – even if the former employee actually enrolls in COBRA coverage. Per the IRS’ final instructions, report as follows for the months that COBRA was offered:
- Line 14 – Always use Code 1H (no offer of coverage).
- Line 15 – Leave Line 15 blank. You do not report cost information.
- Line 16 – Always use Code 2A (employee not employed during the month).
- Part III – Employers with self-insured plans will complete this section for former employees and dependents that enroll in COBRA and will continue to report for as long as COBRA coverage is in force.
Continue reading COBRA FAQ’s for Employer Reporting