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On July 11, 2016, the Department of Labor (DOL) and Internal Revenue Service (IRS) announced a proposal to implement significant changes to the forms and regulations that govern annual employee benefit plan reporting on Form 5500. 
 
Most notably, the revisions would require companies of any size or funding arrangement to file a Form 5500 as well as add a new Schedule J (Group Health Plan Information) to the Form 5500. 
 
The proposed changes, which were published in the Federal Register on July 21, 2016, would considerably increase the annual reporting obligations for nearly all health and welfare plans. The revised reporting requirements, if adopted, would apply for plan years beginning on and after January 1, 2019.  
On June 1, 2016, Colorado Governor John Hickenlooper signed the Colorado Pregnant Workers Fairness Act.  This new provision provides clear standards that employers should follow when employing pregnant workers, as well as a new notice requirement.
 
Effective August 10, 2016, Colorado employers of all sizes will commit an unfair employment practice if they fail to provide reasonable accommodations for an employee, or an applicant for employment, for health conditions related to pregnancy or physical recovery from childbirth, absent an undue hardship.  
Sunday, 28 August 2016 17:37

Handling ACA Subsidy Notifications and Appeals

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By now many employers have received notices from CMS stating that they are subject to a penalty under the Employer Mandate (for groups over 50) created by the ACA.  If you are one of them, you may be wondering why you’re getting these and what your next steps are.
 
Remember that The Centers for Medicare and Medicaid Services (CMS) and the IRS are using your 1094 and 1095 forms submitted earlier this year to verify individual subsidy eligibility, and to enforce the Individual and Employer Mandates.  
Let’s face it, there’s much about the continued rising cost of health care that you don’t have much control over. You can’t change the medical needs of a premature baby on your health plan, or change the costly medical and prescription treatment needed for chronic conditions in your employee population. However, you may have access to data from your insurance carrier that may help you get a better grasp on items that might help you curb your overall healthcare costs.
Wednesday, 13 July 2016 14:32

Fall River Inspiration Scholars Announced

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We are so excited to share that we have chosen the winners of our annual Fall River Inspiration Scholarship. Each year, employees of Fall River clients, as well as their children/grandchildren, are eligible to apply. We had an outstanding pool of applicants this year (in both quantity and quality of applications) and have decided to increase the number of scholarships we gave. We are awarding two $1,000 scholarships as well as three $250 book stipends.
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