Don’t Forget Your COBRA Participants During Open Enrollment Season

November 7, 2017

MCG recognizes open enrollment season can be a hectic time however, it is important for employers to remember their COBRA responsibilities as the new plan year approaches.  COBRA qualifiers still in their election period and current COBRA participants must be given the same open enrollment options as similarly situated active employees. If you have a third party handling your COBRA administration, they too must be informed of changes in plan offerings and rates. Here are a few tips to help your company stay on top…
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The IRS Releases Final 1094-C/1095-C Forms and Instructions for 2017 Tax Year

October 31, 2017

The IRS recently released the 1094-C/1095-C forms and instructions to be used for the 2017 Applicable Large Employer (ALE) reporting .  While there are only minimal changes to the forms this year, there are indications that the IRS will be more strict in its enforcement of the reporting requirements and the penalties associated with the employer mandate. In addition, the IRS recently announced that it will reject individual tax returns if the taxpayer fails to indicate the health coverage status for all individuals included on…
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Changes to the 2018 ACA Affordability Standard

July 15, 2017

Although the healthcare coverage debate rages on in our nation’s capital, the Affordable Care Act (ACA) is still the law of the land. It is important that employers remain vigilant in their ACA compliance efforts. In particular, the “affordability standard” is a component of ACA that has been frequently overlooked. Employers should be reassessing their employee contribution structure annually to ensure compliance and avoid costly penalties. In order to determine affordability, the IRS sets an “affordability percentage” annually. The affordability percentage is applied to the employee’s…
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Five common errors to avoid in benefits communication

June 26, 2017

As we ease into our summertime schedules, Open Enrollment is lurking around the corner (for those of you with calendar-year plans). Creating benefits communications that are engaging and helpful to employees is not difficult, but does take some planning and coordination. MCG can assist with the planning process as well as with communications strategy and creation. Whether you hire a consultant such as MCG or do your benefits communications in-house, we’d like to share a recent article by Willis Towers Watson that summarizes common errors…
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MCG’s Commitment to You

February 7, 2017

2017 brings much anticipated change for our nation and the laws that govern employee benefits. As always, the MCG team is committed to following legislative and regulatory developments as they occur, then developing a game plan and any modifications necessary to achieve your benefits goals. In 2017, we will continue to help you achieve your mission through our dedication to quality, integrity, and leadership in the areas of benefits cost control, compliance, and communications.  MCG is here for you.  


IRS Extends Deadline for Furnishing 1095 Forms to Employees

November 27, 2016

On Friday, November 18, 2016, the IRS announced that the due date for furnishing 1095-B and 1095-C Forms to individuals has been extended from January 31, 2017 to March 2, 2017.  While the IRS has recognized employers’ need for additional time to gather and review 2016 data in order to prepare the 2016 1095-B and 1095-C individual forms, the deadline for filing the 1094 and 1095 forms with the IRS was not extended and remains February 28, 2017 if filing by paper, or March 31,…
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IRS Announces 2017 Flexible Spending Arrangement (FSA) Contribution Limit

October 28, 2016

This week, the Internal Revenue Service (IRS) announced that the 2017 limit on employee pre-tax FSA contributions will rise to $2,600, up from $2,550 in 2016. Revenue Procedure 2016-55 provides the details of this and approximately fifty other tax related annual inflation adjustments. The dependent care FSA maximum which is set by statute and not subject to inflation-related adjustments, will remain at $5,000. When does the new limit take effect? The $2,600 contribution limit applies to plan years beginning on or after January 1, 2017. What…
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The IRS Releases Final 1094-C/1095-C Forms and Instructions for 2016 Tax Year

October 25, 2016

The IRS recently released the final regulations relating to the 2016 1094-C/1095-C forms and instructions.  As expected, there are several changes and thankfully, some much needed clarification on non-employee reporting. Now is the time for employers to review the updates, start gathering data, and make any necessary changes to their systems in preparation for the 2016 filings. Some of the highlights are: Qualifying Offer Transitional Relief is no longer available New 1095-C Codes for Conditional Offers of Spousal Coverage. Two new line 14 codes (1J…
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