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August 1, 2019
By Karen McLeese
Paid Medical and Family Leave Updates in California, Connecticut and Oregon
As mentioned in last month’s Benefit Beat, Governor Gavin Newsom signed a law on June 27, 2019 that extends the duration of California’s current Paid Family Leave Program. In Connecticut, employers will be required to provide paid family leave, funded by a payroll tax beginning January 1, 2021, with benefits beginning January 1, 2022. Plus, amendments have been made to Connecticut’s existing Family and Medical Leave Act to align with the new paid family leave law. Oregon now becomes the latest state requiring employers to provide paid family and medical leave. Under the new law, the paid leave program is funded by both employer and employee contributions with benefits scheduled to begin January 1, 2023.
EEO-1 Report Update: Component 2 Data Reporting Requirement
The Equal Employment Opportunity Commission has contracted with NORC at the University of Chicago to collect and process Component 2 data, as part of the EEO-1 reporting obligation. Component 2 data for both 2017 and 2018 must be submitted by September 30, 2019.
Updated Medicaid/CHIP Premium Assistance Notice
Individuals who are eligible for employer-sponsored group health coverage, but are unable to afford the premium, may be eligible to receive premium assistance from a state’s Medicaid agency or Children’s Health Insurance Program (CHIP). Thus, employers sponsoring health plans are obligated to annually provide a premium assistance notice to their workforce. This notification can be accomplished by using a model notice provided by the Department of Labor’s Employee Benefit Security Administration (EBSA). EBSA recently revised the model Medicaid/CHIP notice, and made current as of July 31, 2019.
Individual Health Insurance Mandated in California and Rhode Island
A handful of states are enacting laws requiring their residents to maintain individual health coverage, or pay a state tax penalty. California and Rhode Island now join the District of Columbia, Massachusetts, New Jersey and Vermont by enacting laws mirroring the concepts of the individual shared responsibility provisions of the Affordable Care Act.
Beware the Laws Impacting Wellness Programs
A recent class action lawsuit involving a wellness program bears monitoring. Under Yale’s Health Expectation Program, roughly 5,400 Yale union employees were required to participate in the program, or pay a $25 weekly fine via payroll deduction. The complaint alleges that the Program violates the Americans with Disabilities Act and the Genetic Information Nondiscrimination Act of 2008.
Preventive Care Services Expanded for HSA Participants
The IRS released new guidance relating to health savings accounts, specifically expanding the types of treatments and services for certain chronic conditions that constitute preventive care.
August 1, 2019
CBIZ & MHM Named to Construction Executive’s Top 50 Construction Accounting Firms
Construction Executive Magazine, a publication from Associated Builders and Contractors, recently named CBIZ and MHM to its list of the Top 50 Construction Accounting Firms in the nation.
July 31, 2019
4 Major Takeaways from the 2019 AICPA Not-for-Profit Conference
Several members of the CBIZ and MHM Not-for-Profit Practice attended the AICPA’s not-for-profit conference in Washington D.C. this summer. The annual conference covers hot topics in accounting, tax, and financial advisory, and other industry trends that practitioners and their clients should have on their radar.
July 30, 2019
Reduce Accounting Challenges with the VIE Accounting Alternative
For many private companies, the evaluation of the variable interest entity (VIE) guidance to their brother and sister entities has been a confusing and difficult process.
July 29, 2019
New GILTI Regulations Provide Relief for Taxpayers
On June 14, the U.S. Department of Treasury (Treasury) and the IRS released final regulations on Global Intangible Low Taxed Income (GILTI), a provision included in the 2017 tax reform law commonly known as the Tax Cuts and Jobs Act (TCJA).