Tax Planning and Profit Sharing Plan
If you’re a business owner looking to save for retirement while also reducing your taxable income, adding a profit-sharing component to an employer retirement plan could be an attractive option. […]
President Biden Reveals Plan to End National COVID-19 Emergency
On January 30 President Biden issued a statement of policy to Congress in which he announced that the administration plans to end both the National Emergency related to COVID-19 originally […]
EEOC Updates Guidance Related to COVID-19 Workplace Testing
In recognition of the changing circumstances related to the COVID-19 pandemic, the EEOC has updated its guidance around conducting testing for on-site employees. Employers covered by the Americans with Disabilities […]
Biden Administration Enacts Speak Out Act
Ahead of the close of the 117th U.S. Congress, the House of Representatives, with a vote of 315 – 109, quietly passed the Speak Out Act (“The Act”). President Biden […]
Continuing Appropriations Act Extends HDHP Relief for Telehealth Services
President Biden last week signed the Continuing Appropriations Act, 2023 (CAA 23) to provide funding for the federal government through the current fiscal year. But employers also should know there […]
Feds Extend Prescription Drug Filing Deadline, Announce Relaxed Enforcement
The Departments of Labor, Health and Human Services, and the Treasury (collectively, the Departments) last week issued an FAQ that relieved filing entities from the December 27, 2022, deadline for […]
Innovative Named A Samaritan Gala Honoree
Innovative Benefit Planning is honored to be recognized as a “2023 Celebration of Life Gala Honoree” at this year’s Samaritan Gala. Each year, Samaritan honors an individual and/or company for […]
Secure Act 2.0
The Secure Act 2.0 is poised to be signed into law with the goal of promoting retirement security among Americans. The bill contains dozens of provisions that will impact various […]
Employers Prepare For Rx Reporting Deadline
Section 204 of the 2021 Consolidated Appropriations Act (CAA) outlined several requirements for group health plans and health insurers aimed at targeting rising prescription drug costs. In an effort to […]
Cafeteria Plans: Change in Status Events and Permissible Employee Election Changes
Cafeteria plans are governed by IRS Code Section 125 and allow employers to help employees pay for expenses such as health insurance with pre-tax dollars. Employees can choose between a […]
