HR Compliance / Legislation Updates

Don’t Sweat Summer Compliance: PCORI Fees due July 31
Source: Mineral
Read Time: 5 Minutes

Although summer is a hot time for HR compliance deadlines, there’s one that most employers don’t need to sweat about: Fees charged to group health plans under the Affordable Care Act (ACA) by the Patient-Centered Outcomes Research Institute (PCORI). PCORI was created to study clinical effectiveness and health outcomes. To finance the Institute’s work, PCORI fees are annually charged to group health plans; this year, PCORI fees are due July 31.

To help small and medium-sized business (SMB) leaders or brokers with SMB clients meet this annual HR compliance deadline—and of course, ace any PCORI-related questions on trivia night—Mineral created this precise PCORI FAQ.

WEBINAR:

Are You My Employee? The Importance of Proper Classification

Tuesday, August 8, 2023
2:00PM EST

Attend this month's webinar to learn how to identify the many classifications of employees and encourage uniformity and equity.

Gain insights into:

The legal differences between an employee and an independent contractor
The three categories to consider when classifying an independent contractor
Tax considerations for the classifications

Be able to answer these questions:

How do the classifications differ in terms of benefits offered?
What happens if my employee and I disagree on classification?
What are the risks of misclassifying employees?

In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nation's leading employment and benefit law firms, Fisher Phillips. Normally the cost of the 60 minute Webinar is $200, but we are pleased to offer it to you free of charge. Simply click the blue button below to register, and be sure to use the coupon code UBA410EW.

HR Compliance Heats Up: Form 5500 Filing Due July 31
Source: Mineral
Read Time: 5 Minutes

Summer is a time when HR compliance obligations heat up right along with outside temperatures, as the federal government requires certain plan report filings within seven months after the end of a plan year. For calendar-year plans, those federal deadlines fall right in the middle of summer. Specifically, it’s time for employers and benefit advisors to prepare Form 5500, an annual federal report required for most employee benefit plans. If your organization or client has calendar-year benefit plans, the 2022 Form 5500 is due July 31.

But I’m sure you already knew that.

What you may not have at the ready, though, are the answers to some of the frequently asked questions that Mineral’s HR Experts receive about Form 5500 for employer-sponsored health and welfare plans. Share them with your HR partners or clients to make this year’s filing deadline a (summer) breeze.

Learn More

Compliance Question of the Week

Q: What is the interactive process?

A: The interactive process is a term most often associated with the Americans with Disabilities Act (ADA), a federal law that requires organizations with 15 or more employees to provide reasonable accommodations to qualified applicants and employees who have a disability. The interactive process involves working with an applicant or employee to explore effective accommodations so they can perform the essential functions of the job and have equal access to the benefits and privileges of employment.

The interactive process should begin when you become aware of the need for a reasonable accommodation. An employee or applicant doesn’t need to use any specific word or phrase, or even mention the ADA. Because of this, it’s important that managers recognize when a request is being made or an accommodation would be appropriate.