In The News
On May 10, the IRS announced 2019 Health Savings Account contribution limit increases within their release of Revenue Procedure 2018-30.
|Individual contribution limit||$3,450||$3,500|
|Family contribution limit||$6,900*||$7,000|
In 2019, the HSA contribution limit for an individual will increase by $50 to $3,500 and for a family by $100 to $7,000. As a reminder, the 2018 family contribution limit recently increased to $6,900 with the update released by the IRS* on April 26, 2018.
In addition, the 2019 High Deductible Health Plan deductible amounts and out-of-pocket expense limits were also announced. To be eligible to contribute to an HSA in 2019, one must be enrolled in a high deductible health plan that meets the following requirements:
|Minimum annual deductible||$1,350||$1,350|
|Maximum annual out-of-pocket||$6,6500||$6,7500|
|Minimum annual deductible||$2,700||$2,700|
|Maximum annual out-of-pocket||$13,300||$13,500|
Visit our Cafeteria Plan limits/threshold page HERE for more information.
In January 2018, the EEOC asked the court to reconsider the portion of the court’s order that required the EEOC to issue new proposed rules by August 31, 2018.
Under the ACA, applicable large employers are required to offer health benefits to their full-time employees and report on the health coverage they offer.
The Tax Cuts and Jobs Act includes a new federal tax credit for employers that provide paid family and medical leave to their employees.
The Tax Cuts and Jobs Act eliminates the business deduction for qualified mass transit and parking benefits starting in 2018.
The Best and Brightest Companies to Work For in the Nation® identifies and honors organizations that display a commitment to excellence in operations and employee enrichment that lead to increased productivity and financial performance. This competition scores potential winners based on regional data of company performance and a set standard across the nation. This national program celebrates those companies that are making business better, creating richer lives and building a stronger community as a whole. There are numerous regional celebrations throughout the country.
The Best and Brightest Companies to Work For® award has been recognizing companies for seven years. The 2017 winning companies were assessed by an independent research firm, which reviewed a number of key measures relative to other nationally recognized winners. They include Compensation, Benefits and Employee Solutions; Employee Enrichment, Engagement and Retention; Employee Education and Development; Recruitment, Selection and Orientation; Employee Achievement and Recognition; Communication and Shared Vision; Diversity and Inclusion; Work-Life Balance; Community Initiatives; Strategic Company Performance and the Best of the Best Small Business.
Of the 2,000 applicants, 437 were recognized as 2017 Best and Brightest Companies to Work For® in the Nation. HRPro is proud to be selected for this award for the second year in a row.
“We are proud to be selected for this award and honored to be included with other great national businesses” says Kristopher Powell, CEO and President of HRPro. “We are even more proud that we have achieved this honor for the second year in a row. This award validates what we already knew, that not only is our organization one of the best and brightest to work for, we also have a staff of some of the best and brightest in the nation and are excited to share this award with them”.
To see the complete 2017 List of the Best and Brightest Companies to Work For®, visit 101bestandbrightest.com.
Interim Final Rules were released and became effective on October 6, 2017, allowing a greater number of employers to opt out of providing contraception to employees at no cost through their employer-sponsored health plan.
November was a busy month in the employee benefits world.
This year, much of the United States had some form of major natural disaster—hurricanes, wildfires, floods, tornados—and millions of people were either directly affected, or had a family member or close friend who was affected. This life-changing disruption often meant that people couldn’t, or weren’t able to, go to work.
Social Security numbers (or SSNs) used to be tied just to your Social Security benefits. Now, that number is tied to just about everything used to identify you.
The phrase: “If I’m lying, I’m dying” should be changed to: “If I’m sitting, I’m dying” even though it doesn’t rhyme.
There are places where you expect things to be noisy, such as a rock concert, and places where you expect it to be quiet, like an office.
On the evening of October 12, 2017, President Trump announced that subsidies for low income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped.
The order directs various federal agencies to explore options relating to association health plans, short term limited-duration coverage, and health reimbursement arrangements, within the next 60 to 120 days.
Reporting is required by employers with 50 or more full-time (or full-time equivalent) employees, insurers, or sponsors of self-funded health plans, on health coverage that is offered.
Aristotle was right when he said, “Nature abhors a vacuum.” Companies and politicians like to say that they’re transparent, when in fact, they’re often the opposite. And, as in nature, in the absence of facts, people will often fill their minds with what is perceived.
Not too long ago, it was assumed that Social Security would pay for most people’s retirement needs. Now, we know better and most employees, regardless of their age, are aware that they need to save additional funds for their retirement.
Ah, coffee, is there any better beverage? Speaking as a lover of coffee, but not a coffee snob, I always look forward to that first morning cup.
Crain’s Detroit Business announced today that HRPro/BenePro, one of the area’s leading HR and benefit administration and consulting firms, has been named once again as one of the 2017 Cool Places to Work. This survey and award program was designed to identify, recognize and honor the best places of employment in Michigan, benefiting the state’s economy, its work force and businesses.
Organizations from across the state entered the two-part survey process to determine the Cool Places to Work in Michigan. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top organizations and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings. This is the fifth year Crain’shas recognized the state’s coolest workplaces and with 100 companies, it’s their biggest list yet.
“HRPro/BenePro is proud to be a company that empowers, supports and engages their employees. This award is especially important to us, because it is essentially awarded by the employees themselves. This award epitomizes what we already know, that we work hard and understand it is important to play hard too. We encourage a relaxed atmosphere, where there is always time for a laugh. We are proud to share this award with our amazing team and are honored to accept this award from Crain’s Detroit Business.” said HRPro/BenePro President and CEO, Kristopher Powell.
A look behind the culture:
HRPro/BenePro was founded with an essential mission; to help organizations take better care of their people. To achieve this, they treat themselves as their own client. They understand the importance of keeping their employees engaged and happy.
“Here at HRPro/BenePro we believe that great company culture is critical in delivering great customer care. We want our employees to take great care of our clients. We know for that to happen, we must take great care of our employees.” says Powell.
Among perks such as alternating summer Friday’s off, new hire welcome lunches, flexible hours, wellness reimbursement programs, telemedicine, Christmas bonuses, company “field trips” to the ice cream parlor, company outings such as Tiger games and picnics, the true value working at HRPro/BenePro is the feeling of family and camaraderie that is encouraged every day.
HRPro/BenePro is one of Michigan’s top HR and benefit advisory and administration firms, offering a Total People Solution for small to mid-sized companies. HRPro/BenePro strives to create a fun, collaborative culture that puts an emphasis on customer relationships and personalized service. Recently celebrating their 27-year anniversary, they are constantly working to stay ahead of latest trends and needs in the industry. Their mission is to work closely with organizations to understand and help them achieve their human capital goals. For more information visit the company’s website at hrbenepro.com.
For more information on the Cool Places to Work in Michigan program, visit www.crainsdetroit.com.