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June 20, 2013

In accordance with the regulations of the Affordable Care Act (ACA)*, if you are an applicable employer you must provide each of your employees with a notice of the Health Insurance Marketplace coverage options as well as the employment-based health coverage offered through your company or organization.

The time to inform your employees is now.The Department of Labor website offers two versions of a model notice for employers regarding the new changes in health care coverage:

  • Model Notice for employers who offer a health plan to some or all employees
  • Model Notice for employers who do not offer a health plan

Both notices provide basic information about the Marketplace and employment-based health coverage, including whether an employee can save money on their health insurance premiums and if employer health coverage affects an employee's eligibility for Premium Savings through the Marketplace. Employees are also directed to www.HealthCare.gov if they need more information, or if they would like to shop the Marketplace.

*Note: Open enrollment for health insurance coverage through the Marketplace begins October 1, 2013. Section 1512 of the Affordable Care Act creates a new Fair Labor Standards Act (FLSA) section 18B requiring a notice to employees of coverage options available through the Marketplace.




June 18, 2013

In April we published a story highlighting our selection as a finalist in the Mid-South's Healthiest Employers Awards hosted by the Memphis Business Journal. We attended the awards breakfast hosted at the Hilton Memphis along with other finalists throughout the Greater Memphis Area.Occurring during our busiest time of the year, our selection was recognized, but not fully celebrated. This week, we honor CBIZ and its Great Health Program, our Memphis office and its efforts to provide healthy wellness solutions throughout the year and most importantly, our employees who work so hard to maintain a balanced lifestyle both at work and at home.

With the help of our corporate CBIZ team, we showed our appreciation for all who contributed to our final finish in the awards with a special breakfast treat. One of our favorite local catering companies, Panini Catering, hosted a tasty omelette and cappuccino bar for the entire Memphis office on Monday morning. As one employee tweets, "Fantastic way to start the day. No #caseoftheMondays here. @CBIZMemphis does it right once again!" [Follow us on Twitter @CBIZMemphis for real time tweets such as this one].




June 13, 2013

In April we published a story on the basics of ACA Health Insurance Exchanges, highlighting the responsibility of each state to either run their own exchange or hand it over to the federal government, as well as the role that these programs will play in the marketplace. Whether you are well versed in the details of the Affordable Care Act or are still finding the new law challenging to fully grasp, there are 10 things that all health insurance exchanges must do.

Health Insurance Exchanges (fully operational by January 1, 2014) must do the following:

1. Certify, recertify and decertify Qualified Health Plans (QHPs)

2. Assign a rating to each exchange plan using the Bronze, Silver, Gold & Platinum levels

3. Offer a toll-free hotline for consumers

4. Maintain a website to compare plans

5. Standardize the format in which their exchange plan options will be presented

6. Inform individuals of eligibility requirements for Medicaid, CHIP or any other state or local program

7. Enroll individuals if through the screening process the exchange determines they are eligible for one of those programs [Applications will start being accepted October 1, 2013]

8. Provide for a calculator to determine the actual cost of coverage to individuals after taking into account any premium credits and cost-sharing subsidies [139-400% of the federal poverty level]

9. Certify whether individuals are exempt from the individual mandate excise tax and transfer the list of such individuals to the Treasury Secretary

10. Provide the name of the employees who dropped the employer's coverage and received premium tax credits to the employer because his or her plan was unaffordable or did not provide the required minimum actuarial value

Before you determine how much the Affordable Care Act will cost you, have a discussion with someone who understands the details surrounding the reform. The Memphis office of CBIZ MHM has a specialized team of individuals trained in all facets of healthcare reform. Schedule a meeting with one of our experts by contacting Megan Murdock, 901.685.5575.




June 11, 2013

The PCI Security Standards Council (PCI SSC) responsible for developing and maintaining the payment card security standards has announced the start of the PCI Special Interest Group (SIG) proposal period for 2014 projects. During this time, beginning June 1st and running through July 25th, participating organizations can submit ideas and voice concerns to the Council through their website. Results in the past have shown this collaboration is key in addressing challenges and making significant changes in the PCI industry.

"The real value in Special Interest Groups is that they are driven by the community at large. The ideas come from those who are living and breathing payment card security every day, representing a variety of industries and job functions," said Bob Russo, General Manager of the PCI Security Standards Council, earlier this month in a release.

The PCI community will have the opportunity to vote in the SIG election in November, selecting up to three projects they would like the Council to pursue over the coming year. For the full PCI Security Standards Council press release click here.

Visit www.cbiz.com/pci for more information regarding CBIZ Security & Advisory Services, LLC and contact Karen Cassella (kcassella@cbiz.com), Executive Vice President, CBIZ SAS at (901) 685-5575 or email the CBIZ SAS team at pci@cbiz.com.




June 6, 2013

We are excited to announce the addition of J. Eustis Corrigan, Jr. to our tax services division as a Managing Director. Eustis has more than 25 years of comprehensive tax, accounting, and strategic business consulting experience. Eustis joins us with extensive experience advising publicly-traded and privately-held companies regarding complex tax and financial issues.

His major areas of expertise include federal and state corporate taxation, entity planning and structuring, mergers & acquisitions, and accounting methods. He has served clients in a variety of industries including financial services, energy, manufacturing, mortgage banking, telecommunications, distribution, transportation and real estate. Eustis' role within CBIZ will be in the coordination and delivery of high-quality services to corporate clients via a focused multi-disciplinary approach. He will serve in a client service role as well as a subject matter expert in certain areas ofcorporate taxation.

He has experience with detailed aspects of state and local tax compliance and planning matters. Eustis' client experience includes the following:

  • Developing and implementing proactive tax planning for corporations
  • Assisting companies with ASC 740 (formerly FAS 109) & ASC 740-10 (formerly FIN 48)
  • Tax accounting methods
  • Tax controversy
  • Executive compensation
  • Due diligence
  • Mergers & acquisitions

“Eustis’ extensive tax and industry experience will continue to add to the depth of tax and consulting services we already offer,” said Steve Dunavant, Senior Managing Director.  “His addition showcases our commitment to delivering superior tax and consulting services to the Greater Memphis market.”

Eustis is a graduate of Louisiana State University where he received his Bachelors of Science in Accounting. He also is a Certified Public Accountant, a past Editorial Advisory Board Member of the Journal of Accountancy, a tax section member of the American Institute of Certified Public Accountants (AICPA), and a member of both the Mississippi and the Louisiana Society of Certified Public Accountants. Outside of work Eustis enjoys cooking, reading, running, college sports, and spending time with his family.




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