The Department of Labor recently announced that the delay of its Final Rule regarding disability claims procedures is, in fact, final. This means that all employee welfare plans that provide benefits based on a determination of disability, including health plans, stand-alone disability benefits, 401(k), pension, and other retirement plans must have these new procedures, including new contract provisions, in place by April 1, 2018. I know what you are thinking....."How do I update my plans for this?" Well, that is the beauty of HR Cubed. Our platform automatically u...
On January 22nd, 2018, President Trump signed a stopgap funding bill that delayed the implementation of the ‘Cadillac Tax’. This new law has officially delayed the Cadillac Tax until 2022.
A provision of the Affordable Care Act (“ACA”), the so-called “Cadillac Tax” is a 40% excise tax to be imposed on high-cost employer-sponsored group health plans. The tax is expected to impact at least 1 in 4 employers. Self-insured employers are expected to pay the tax directly while insurance carriers will be responsible for the tax on fully insured plans.