News - Essential StaffCARE

Do you need a Wrap document?

According to the Employee Retirement Income Security Act (ERISA) passed in 1974, employers offering health and welfare benefits (health, dental and/or vision plans, AD&D/Term/Disability Insurance, wellness programs, etc) are required to provide plan participants with a Summary Plan Description (SPD) that clearly outlines details about the plan, its administration, and its benefits and claims process. (Click here to learn more about SPD documents).

Important Reminder: PCORI Fees Due By July 31st, 2018

The Patient-Centered Outcomes Research Institute (PCORI) trust fund fee was established by the Affordable Care Act and is assessed for each plan year ending after September 30, 2012 and before October 1^st, 2019. The fee is applicable on sponsors of self-insured plans and is intended to help fund medical research.

Essential StaffCARE has prepared a helpful guide to understanding and calculating PCORI fees.

Please review the guide here.

Avoiding ACA Reporting Pitfalls: How to Stay in Compliance

Reporting of Offers of Health Insurance Coverage by Employers (Forms 1094/1095) is well under way. As such, employers are no doubt scrambling to complete the forms in a timely and accurate way in order to avoid costly IRS penalties.

To help get through the reporting season, the following are a few things to keep in mind as you proceed through the often daunting and confusing reporting process.