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  • SPD, SBC, and Employer CHIP Notice Penalties Hiked

    The U.S. Department of Labor (DOL) has increased the penalties employers face for failing to furnish a Summary Plan Description (SPD), Summary of Benefits and Coverage (SBC), and Employer Children’s Health Insurance Program (CHIP) Notice as follows:

    • SPD: Failure to furnish an SPD to the DOL upon request may now result in a penalty of up to $156 per day (not to exceed $1,566 per request).
    • SBC: Failure to provide group health plan participants and beneficiaries with an SBC may now result in a penalty of up to $1,156 per participant or beneficiary.
    • Employer CHIP Notice: Failure to provide an Employer CHIP Notice to employees in states that offer group health plan premium assistance through a state Children’s Health Insurance Program may now result in a penalty of up to $117 per day per employee.

    Visit the Benefits Notices by Company Size section of your online HR library for information on how to comply with these notice requirements.

    To access your HR library, please visit www.HR360.com/login.

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  • A Great Honor!

     

    Team Nash Insurance has been recognized for their hard work and expertise in helping consumers enroll in and manage qualified health coverage through the Health Insurance Marketplace. 

    This nationwide recognition from the Centers for Medicare & Medicaid Services (CMS) as a member of the 2019 Marketplace Circle of Champions highlights our success in enrolling 20 or more consumers during this Open Enrollment Period. 

    “Consumers turn to agents and brokers for trusted advice and guidance in selecting plans, enrolling in coverage, and managing their health insurance policies throughout the year,” said Randy Pate, Director of Center for Consumer Information & Insurance Oversight (CCIIO) operation within CMS, which oversees the Marketplace. “We thank Team Nash Insurance for their hard work and exceptional service in helping Americans get coverage.”

    The Marketplace Circle of Champions program recognizes the hard work, expertise and service of Marketplace-registered agents and brokers. Agents and brokers who assist 20 or more consumers qualify for the Marketplace Circle of Champions. 

    Eligible consumers can enroll in Marketplace coverage during this year’s Open Enrollment Period, which runs November 1 – December 15, 2018. Consumers with questions about their coverage or who would like help enrolling, can contact us at https://www.nashinsurance.com/contact/

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  • Creditable Coverage Disclosures Due to CMS by March 1 for Calendar-Year Plans

    Employers that offer prescription drug coverage to Medicare-eligible individuals via a calendar-year plan generally must complete an online disclosure to the Centers for Medicare and Medicaid Services (CMS) by March 1.

    This disclosure must report whether the coverage offered is “creditable,” meaning it is expected to pay, on average, as much as the standard Medicare prescription drug coverage. Employers that offer creditable coverage via a non-calendar-year plan must also comply with the disclosure requirement within 60 days of the beginning of the plan year.

    Click here to complete an online disclosure. For more information on the disclosure requirement, click here

    To access your HR library, please visit www.HR360.com/login.

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  • OSHA Form 300A Electronic Submission Deadline is March 2

    Many Large and High-Risk Industry Employers Subject to the Requirement

    Employers are reminded that they may be required to electronically submit information from their 2018 OSHA Forms 300A to OSHA by March 2, 2019. By that date, the following establishments, if currently required to comply with OSHA’s recordkeeping requirements, must electronically submit this information through OSHA’s Injury Tracking Application (ITA):

    • Establishments with 250 or more employees in industries covered by OSHA’s recordkeeping requirements; and  
    • Establishments with 20-249 employees in certain high-risk industries

    Click here to access the ITA. 

    For more information, visit our Electronic Recordkeeping Requirementpage.

    To access your HR library, please visit www.HR360.com/login.

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  • ACA Remains in Effect After Court Rules Law Unconstitutional

    ACA Remains in Effect After Court Rules Law Unconstitutional

    A federal district court in Texas has ruled the entirety of the Affordable Care Act (ACA) unconstitutional. However, the decision is expected to be swiftly appealed. In the meantime, pending further legal developments, the ACA remains in effect.

    To access your HR Library, please visit www.HR360.com/login.

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  • Team Nash Insurance Receives National Recognition

    [Salt Lake City, Utah] – Team Nash Insurance has been recognized for their hard work and expertise in helping consumers enroll in and manage qualified health coverage through the Health Insurance Marketplace.

    This nationwide recognition from the Centers for Medicare & Medicaid Services (CMS) as a member of the 2019 Marketplace Circle of Champions highlights Team Nash Insurance’s success in enrolling 20 or more consumers during this Open Enrollment Period.

    “Consumers turn to agents and brokers for trusted advice and guidance in selecting plans, enrolling in coverage, and managing their health insurance policies throughout the year,” said Randy Pate, Director of Center for Consumer Information & Insurance Oversight (CCIIO) operation within CMS, which oversees the Marketplace. “We thank [Agent/Broker Name]for their hard work and exceptional service in helping Americans get coverage.”

    The Marketplace Circle of Champions program recognizes the hard work, expertise and service of Marketplace-registered agents and brokers. Agents and brokers who assist 20 or more consumers qualify for the Marketplace Circle of Champions.

    Eligible consumers can enroll in Marketplace coverage during this year’s Open Enrollment Period, which runs November 1 – December 15, 2018. Consumers with questions about their coverage or who would like help enrolling, can contact Celia Nash  here: Link

     

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  • Retirement Plan Contribution Limits Increased for 2019

    401(k) Contribution Limit Increased to $19,000

    The IRS has announced that the amounts employees can contribute to 401(k)s and IRAs will increase in 2019. In particular:

    • The employee contribution limit for 401(k) plans will be $19,000, up from $18,500 in 2018. The catch-up contribution limit for employees aged 50 and over remains unchanged at $6,000.
    • The employee contribution limit for IRAs will be $6,000, up from $5,500 in 2018. The catch-up contribution limit for employees aged 50 and over remains unchanged at $1,000.
    • The employee contribution limit for SIMPLE IRAs and SIMPLE 401(k) plans will be $13,000, up from $12,500 in 2018. The catch-up contribution limit for employees aged 50 and over remains unchanged at $3,000.

    Click here for more information.

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  • Administration Proposes Allowing All Employers to Offer HRAs to Reimburse Individual Health Insurance Policy Premiums

    If Finalized, Proposal Would Become Effective for 2020 Plan Year

    A new proposed rule would permit all employers to offer health reimbursement arrangements (HRAs) to reimburse employees’ individual health insurance policy premiums if certain conditions are met. Currently, many employers are prohibited from offering such HRAs. If finalized, the proposal would be effective for plan years beginning on or after January 1, 2020.

    In general, the proposal would permit HRAs to reimburse premiums for individual health insurance policies only if:

    • All individuals covered by the HRA verified that they are, or will be, enrolled in individual health insurance coverage;
    • No class of employees is offered a choice between a traditional group health plan and the HRA;
    • The HRA is offered on the same terms to all employees within a class;
    • Participants can opt out of the HRA annually; and
    • Employers provide eligible participants with a written notice describing certain features of the HRA.

    Click here for more information on the proposal.

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  • Earnings Subject to Social Security Tax to Increase in 2019

    Taxable Earnings to Increase to $132,900

    The Social Security Administration has announced that, effective January 1, 2019, the maximum amount of earnings subject to the Social Security tax will increase to $132,900, up from $128,400 in 2018. As a reminder, both employers and employees pay a 6.2% Social Security tax on an employee’s earnings, up to the maximum amount of earnings subject to the tax each year.

    Click here for more information.

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  • Updated Consumer Report Notice Required Sept. 21

    Notice Available for Download

    Beginning September 21, 2018, an updated Summary of Consumer Rights notice must be provided when required under the federal Fair Credit Reporting Act (FCRA). As a reminder, the FCRA requires employers to provide an applicant or employee with this notice before rejecting a job application, terminating an employee, or taking any other adverse employment action based on information in a consumer report.

    Click here to view more information and download the updated notice.

    To access your HR library, please visit www.HR360.com/login

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