The FirstPerson Blog

Ideas & Insights

Benefits, Compliance

Affordable Care Act Reporting Requirements

August 23, 2016

It seems like employers just finished up year one of reporting to the IRS on Forms 1095-C and 1094-C, but it’s already time to look ahead to year two. While most reporting rules stayed the same, it is important to once again familiarize yourself with the basics on Affordable Care Act (ACA) reporting to ensure your organization is in compliance. This is especially important for organizations who may have grown to over 50 employees in the 2015 calendar year and are now required to report. Similarly, those organizations with between 50 and 100 employees were not subject to penalties for the 2015 plan year, but will be subject to penalties going forward. That means it’s even more important to stay on top of this.

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Human Resources, Compliance

New FLSA Overtime Rules: Emotional Impact

May 23, 2016

If you are like me, you have been bombarded with notifications that the new Fair Labor Standards Act (FLSA) regulations have been issued and employers must comply as of December 1, 2016. Whew! Let’s all take a deep breath and try to make this a little easier.

In addition to analyzing your employees' salaries and determining how all of this is going to affect your budget, what do you need to be doing in preparation of this deadline? Here is a summary of recommendations and considerations.

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Health Care Reform, Compliance

Compliance Update: The Cadillac Tax, PACE Act,and IRS Reporting

March 9, 2016

Benefits plan compliance is an ongoing process that should be paid attention to year round. Currently on our radar in 2016 is the Cadillac Tax, PACE Act, and IRS reporting. I sat down with fellow Managing Director Paul Ashley to discuss some of the recent changes and what we can expect down the road. Watch the video  of our discussion or read the transcript below.

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Human Resources, Compliance, Compensation

Other Business Impacts of the Proposed FLSA Changes

January 26, 2016

A few things you might not have thought about regarding proposed changes to the Fair Labor Standards Act

On June 30, 2015 the Department of Labor (DOL) released its proposed changes to the Fair Labor Standards Act (FLSA) overtime regulations. If enacted, it’s reported that "the proposed rule would more than double the salary level under which employees qualify for overtime pay when they work more than 40 hours in any given week; the current threshold of $455 per week/$23,660 annually would be adjusted to 2016 estimates of about $970 per week/$50,440 annually."

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Health Care Reform, Compliance

Form 1095-C: Communicating to Employees

January 20, 2016

Between Christmas and New Year’s, the IRS announced a delay for employers to issue Form 1095-C to employees. The deadline is now March 31, 2016; however, some employers have decided to stick with the original January 31, 2016 deadline and issue Form 1095-C along with W-2s.

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