Please join Spring Partner and Head of our Health & Productivity Team, Karen English for an upcoming webinar that explores and analyzes the results of our 5th annual leave management survey which is co-sponsored by the Disability Management Employer Coalition (DMEC).
The results are in for the 5th annual survey of employer leave management practices and challenges. Hear from over 900 employers on how they manage all types of leaves. Spring has partnered with DMEC to understand employer challenges in managing all types of leaves, including Family and Medical Leave Act (FMLA), state family and medical leaves, military leave (USERRA), state military leave, jury duty, other state mandated leaves, municipal/county leaves, and other company specific leaves (e.g., bereavement, administrative, personal leaves).
You will also receive tips for best practices identified in the survey and as identified by industry experts in absence management.
The webinar costs $29.95 for non-DMEC members to attend, but if you sign up to receive our Spring Newsletter using the form below, we will give you a discount code that will enable you to attend for free!
It was recently announced that Spring Head of New Market Development and Senior Consultant, Peter Bandarenko, would be presenting at this year’s prestigious 4th Annual Captive Insurance Conference presented by the American Conference Institute.
This year’s conference will run from May 2-3, 2016 at the Carlton Hotel on Madison Avenue in New York City. The event regularly attracts the top echelon of the captive insurance industry and serves as a great educational session for all levels of industry experience. This is the second year in a row that Bandarenko will be a presenter.
The US Internal Revenue Service (IRS) recently announced their pension plan limits for 2016. All of the limits below are unchanged from 2015. These limits are reviewed and revised annually, so employers should note these pension limit changes for planning/forecasting purposes.
Annual compensation limit: $265,000
Maximum Defined Contribution / Profit Sharing contribution: $53,000
Maximum Simplified Employee Pension (SEP) contribution: $53,000
Maximum 401(k) contribution: $18,000
Catch-up contributions limit for age 50+: $6,000
Maximum Savings Incentive Match Plan (SIMPLE) contribution: $12,500
Maximum annual benefit of Defined Benefit plans: $210,000
Spring is a leader in pension planning and funding solutions with over 25 years of experience and eight patents for funding programs. Please contact us with any questions you may have about pensions.
With the growing threat of data breaches and hacking incidents on the rise, having identity theft protection is quickly becoming as important as home or auto coverage. Forward-thinking employers looking to attract and retain top talent have been adding identity theft protection to the benefit offerings, but to date, there has been no financial incentive to do so for the employer.
The U.S. Internal Revenue Service (IRS) recently announced in Announcement 2016-22, that identity theft protection could be offered to employees on a tax-free basis regardless of a prior data breach. In the past, the IRS has offered the tax-free perk to employers ONLY if a data breach has occurred. This latest move allows employers to move from being reactive to proactive and use identity theft coverage as an attractive perk.
Spring is a market leader in developing the most attractive and appropriate employee benefit packages for employers of all sizes. We offer an excellent Financial Protection Plus identity theft protection product for individuals and families, through a relationship with LifeLock; the leader in Identity theft protection for ID and credit fraud.
LifeLock provides a series of proactive services to protect your employees’ identity and provides a $1 million service guarantee.
For less than $10 per month, employees can purchase protection against identity theft, ID and credit fraud and more.
Services are available for individuals and families via online enrollment through secure, encrypted servers.
For more information on how you can get these critical services to offer to your employees, please contact our team today!
With the 2-year delay of the “Cadillac Tax” getting the lion’s share of the publicity surrounding the passage of last month’s omnibus spending bill in Congress, two additional important Affordable Care Act (ACA) taxes were also delayed with little fanfare.
The Health Insurance Tax (HIT) was suspended for one year to 2017. The HIT is a tax on health insurance carriers in the form of a per subscriber, fixed-dollar fee that insurers pay into based on their premiums written. While this tax doesn’t directly impact employers, it has been widely speculated that most insurers would pass most if not all of the cost of the HIT onto their customers in the form of rate hikes, benefit reductions and co-payment increases. The suspension of the HIT provides an estimated 2.5-3% savings on fully insured insurance premiums.
Also delayed for two years, is the implantation of the tax on medical device manufacturers. This is a 2.3% tax on revenue from medical device sales. This tax was poised to deal a significant blow to the medical device manufacturing industry as it dug into money otherwise spent on research and development and would likely result in steeper prices for life-saving medical devices.
It is important that employers know these taxes exist and that they have been delayed. While they may not impact most businesses directly, their cost will almost certainly be passed on to businesses and consumers in some fashion when implemented.
Recently, the Internal Revenue Service (IRS) announced the extension of a couple of the important Affordable Care Act (ACA) reporting dates.
The IRS announced that they are extending the deadline for employers distributing health coverage offers and coverage provided to employees to March 31, 2016. The IRS is also pushing back the deadline for employers to report offers and coverage provided to May 31, 2016 for paper filing and June 30, 2016 for electronic returns.
This most recent ACA delay/modification is certainly good news for employers struggling to keep up with the increasing demand on resources to comply with the new healthcare regulations.
Of course, if you have any questions or concerns about ACA reporting, compliance or implementation, you owe it to yourself to contact us. Spring’s compliance experts are consistently tracking and studying healthcare law to ensure our clients get the best and most up-to-date advice possible on this evolving topic.
Spring is proud to announce that managing partner, Karin Landry has been named by Captive Review to the publication’s “Power 50” list for 2015.
The Power 50 list is widely considered as a “who’s who” listing of the captive insurance industry. It includes influential consultants, regulators, industry pioneers and thought leaders. Within the list, the judges rank the top 50 most influential professionals for the concluding year and Landry was ranked #10 this year.
Landry and her counterparts on this year’s list will be featured in the February edition of Captive Review.
We couldn’t be more proud for Karin and our entire captive team of consultants and actuaries. Here’s looking to continued success as we head into 2016!