What is a WRAP document and do I need one?

What is a “wrap document”? A wrap document is document that sets out information about an employer’s health and welfare plan, and which incorporates (or “wraps around”) other documents that provide more detailed information about the benefits offered (such as...

What Day Does My Social Security Check Arrive?

When will I get My Social Security Check? Social Security checks are deposited on the second, third, or fourth Wednesday of each month, depending on your day of birth. The Social Security check schedule works as follows: If you were born on the: 1st–10th of the month:...

ROI on Employee Benefits

When you own a business, you should be proud of the people you hire; you want to equip them to be successful. Each employee is an important asset to your company, and doing your part to protect and reward them should be a high priority for business owners. Part of the...

Medicare Advantage Trial Period

Getting ready to sign up for Medicare? Thinking about a Medicare Advantage plan but not sure that’s what you really want. What if something goes wrong? You need to know about the Medicare Advantage trial period, a test run for a Medicare Advantage plan. Trial Right...

ACA Employer Reporting

What is the Employer Mandate? The employer mandate, also known as the Employer Shared Responsibility provisions of the Affordable Care Act, aims to reduce the number of uninsured people in the U.S. by encouraging employer-sponsored health coverage. As part of the...

Use a Health Savings Account to Pay Medicare Premiums Tax-Free

Question: We have a sizable health savings account in my wife’s name. She will turn 65 and go on Medicare in August 2016. I am 71, and my monthly Medicare Part B premium is deducted from my Social Security payment. Can we use money from her HSA to pay our Part B...
Late Enrollment Penalty (LEP)

Late Enrollment Penalty (LEP)

If you’re enrolling into Medicare and you are questioning whether or not you need to enroll into a Medicare plan, you need to read this article to ensure you don’t put yourself in a position to pay a permanent Late Enrollment Penalty. What is the Late...

Vesting Schedules

When an employer sets up a defined contribution plan, such as a 401(k), 403(b), or another plan, you are able to contribute to the plan. Many times the employer may also choose to contribute an amount toward your account as well. Not all times will the employer...

Health Insurance Nondiscrimination Rules

Overview Group health plans and tax-favored accounts—including health savings accounts (HSAs), health flexible spending arrangements (health FSAs), and health reimbursement arrangements (HRAs)—are subject to numerous nondiscrimination provisions under federal law. The...

Employee Assistance Programs (EAPs)

Employee assistance programs (EAPs) are employer-sponsored programs that provide support services to employees experiencing health, family, financial, alcohol, drug, or stress issues. The structure and operation of each EAP will vary with the needs of each company,...