Employers received approximately $344 million in rebates in 2016 due to ACA’s MLR provision

In 2016, employers in the small group market received approximately $153 million in rebates, and employers in the large group market received $191 million in rebates due to the Patient Protection and Affordable Care Act’s (ACA) medical loss ratio (MLR) provision, according to a report from the Centers for Medicare and Medicaid Services (CMS). Consumers […]

PBGC final regs expand its missing participant program to DC, multiemployer DB, and other DB plans

The Pension Benefit Guaranty Corporation (PBGC) has issued final regulations that expand its existing missing participants program to cover terminated 401(k) and most other defined contribution (DC) plans, multiemployer defined benefit (DB) plans, and certain DB plans that are not currently covered by the program. The PBGC has revised the existing program to establish programs […]

Missouri issues 2018 withholding tables; will be reissued

Missouri has released the wage-bracket and percentage method withholding tables effective for wages paid on and after January 1, 2018. Missouri will be reissuing the tables in the near future due to the recently signed Tax Cuts and Jobs Act (P.L. 115-97). Missouri issued a statement with the tables advising to use these tables until […]

ERISA final rule on new disability benefits claims procedures will apply April 1

On January 5, the Department of Labor announced that April 1, 2018, will be the applicability date for employee benefit plans to comply with a final rule under ERISA that will provide new procedural protections for workers dealing with plan fiduciaries and insurance providers who have denied their disability benefits claims. On October 12, 2017, […]

Mississippi issues new withholding tables for 2018

Mississippi has issued new withholding tables for wages paid on and after January 1, 2018. All of the tables will be reproduced in the Payroll Management Guide in a future release at ¶7118 and ¶7119. Employers filing 25 or more returns are required to electronically submit those to the Department of Revenue (DOR) through Taxpayer […]

DOL proposed regulation would allow association health plans

The Department of Labor (DOL) has issued a proposed rule that would allow employers to join together as a single group to purchase insurance in the large group health insurance market. Employers could offer this employment-based health insurance via small business health plans, also known as association health plans (AHP). A principal objective of the […]

IRS issues 2018 percentage method withholding tables

The IRS has issued percentage method withholding tables for wages paid on and after January 1, 2018. The wage-bracket withholding tables will be released in the near future. The tables are to be implemented as soon as possible no later than February 15, 2018. All of the tables will be reproduced in the PAYROLL MANAGEMENT […]

Spencer’s Benefits NetNews – January 12, 2018

About this Newsletter The Spencer’s Benefits Reports is a summary of the week’s news items posted in the WHAT’S NEW pages of Spencer’s Benefits Reports Online. For questions regarding this email service, contact Customer Service at (800)449-9525. NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe Resources Online Store Customer […]

Employers say acquisition announcements likely to impact future health care strategies

Recent acquisition announcements in the health care industry, if approved, could not only change the way U.S. employers design their future health care strategies, but also the way individuals access health care in the future. This is according to a pulse survey from Aon. On December 14, Aon asked 450 HR leaders from large and […]

SSA issues revised maximum taxable wage base for 2018

The Social Security Administration (SSA) issued a revision of the maximum taxable wage base for 2018 based on updated wage data reported to the Agency. The new wage base amount is $128,400, down $300 from the original wage base amount of $128,700 announced in October 2017. The lower taxable maximum amount is due to corrected […]