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audit and assurance

Final Overtime Rule Announced by the DOL – Effective Jan. 1, 2020

By / Healthy Growth Blog /

By Audit & Assurance Breaking News Today – Tuesday, September 24, 2019 The Department of Labor announced the long-awaited final overtime rule making an estimated 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA). The final rule updates the earnings thresholds necessary to exempt executive, administrative, or professional employees from …

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Ep20: Mastering Employee Healthcare Plans

By / AGP Podcast: Sliced /

With regulations for providing healthcare plans to employees changing what seems like daily, we have two experts talking to us today about how business owners can wrap their heads around employee sponsored healthcare plans. Sue Peirce and Susan Burnoski join Chuck & Brittany today to tell us the requirements for offering healthcare to employees, how …

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Treasury Department Issues New Guidance for Health Plans

By / Healthy Growth Blog /

By Susan Burnoski, CPA | Principal, Audit & Assurance If your company offers a high-deductible health plan (HDHP), an HDHP with a health savings account (HAS), or is considering an HDHP, the Treasury Department just announced additional allowable preventive care benefits, effective January 1, 2020. This notice increases the services that can be covered as …

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Two New HRAs Available Jan. 1 for Employers

By / Healthy Growth Blog /

By Susan Burnoski, CPA | Principal, Audit & Assurance As of January 1, 2020, there are two new health reimbursement arrangement (HRA) alternatives for employers to consider. However, due to notice requirements, you need to begin the process now. Individual Coverage HRA (ICHRA) If the individual purchases ACA-compliant health coverage, an employer of any size …

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Don’t Fall Behind on Contribution Deposits

By / Healthy Growth Blog /

By Susan Burnoski, CPA | Director/Senior Manager, Audit & Assurance Employers that offer a defined contribution plan, either a 401(k) or a 403(b) plan, need to ensure employees’ payroll contributions are deposited into their retirement account in a timely manner. This task may seem minor, and in some cases obvious, in the range of a plan …

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Don’t Miss this Critical Component of 401(k) Plans

By / Healthy Growth Blog /

By Krista Steedly, MAcc The beginning of the new year marks an opportune time for plan sponsors to review their 401(k) plans. One area that should be reviewed is the plan’s forfeiture account. This is an often-forgotten aspect of plans, but it is imperative plan sponsors understand forfeitures and make sure they are handled in …

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Employers Still Required to Offer Health Insurance – Here’s What You Need to Know

By / Healthy Growth Blog /

by Susan Burnoski, CPA, Director of Audit & Assurance, Senior Manager While the Affordable Care Act (ACA) individual mandate for having health insurance will be eliminated in 2019, the employer mandate to offer health insurance to employees remains. Therefore, employers need to be aware of the reporting requirements to avoid the significant penalties for noncompliance. …

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