Entries by J Alex Olson

TOG Update: March 2017 Issue

Employers Must Use New Form I-9 U.S. Citizenship and Immigration Services (USCIS) has released a new version of Form I-9, Employment Eligibility Verification. As of January 22, 2017, employers must use the updated form. Background Federal law requires employers to hire only individuals who may legally work in the United States–either U.S. citizens or foreign citizens who have […]

TOG Update: November Issue

2017 HSA and Health FSA Contribution Limits Announced The Internal Revenue Service (IRS) has announced the inflation-adjusted contribution limits for health savings accounts (HSAs) and health flexible spending arrangements (health FSAs) for tax year 2017. 2017 Contribution Limits  The tax year 2017 contribution limits for HSAs and health FSAs are as follows: HSAs: The annual limitation on deductions for an individual […]

TOG Update: October Issue

Medicare Part D Disclosure to Individuals Due by October 14 In preparation for the Medicare fall open enrollment period, employers sponsoring group health plans that include prescription drug coverage are required to notify all Medicare-eligible individuals whether such coverage is “creditable” under the law. Creditable coverage means that the coverage is expected to pay, on average, as much as […]

TOG Update: September Issue

New Federal Minimum Wage and Employee Polygraph Workplace Posters Must Be Posted The U.S. Department of Labor (DOL) recently updated its Fair Labor Standards Act (FLSA) and Employee Polygraph Protection Act (EPPA) posters. The new versions are now available for download. New Posters Every employer of employees subject to the FLSA’s minimum wage provisions must post (and keep posted) a notice […]

TOG Update: August Issue

Penalties Increase for Employers Violating Certain Federal Labor Laws Employers that do not comply with certain requirements under a number of federal labor laws will face increased fines beginning with civil penalties assessed after August 1, 2016 (whose associated violations occurred after November 2, 2015). Key Penalty Increases Penalty increases announced by the U.S. Department of Labor that may […]

TOG Update: July Issue

PCORI Fees Due by August 1st for Employers Sponsoring HRAs and Other Self-Insured Plans As a reminder, fees to fund the Patient-Centered Outcomes Research Institute (PCORI) are due no later than August 1, 2016 from employers who sponsor certain self-insured health plans, including health reimbursement arrangements (HRAs) that are not treated as excepted benefits. Under Health Care Reform, PCORI […]

Having Fun at Abide

The Olson Group had a great time at the Abide Fundraiser this last week! We are very happy to be apart of such a great organization. Here are some photos that were taken at the event.  

TOG Update – June Issue

Changes to Federal Overtime Rules for ‘White Collar’ Workers A final rule, effective December 1, 2016, updates the regulations governing which executive, administrative, and professional employees (white collar workers) are entitled to the minimum wage and overtime pay protections of the federal Fair Labor Standards Act (FLSA). Current Rules The current federal regulations provide an exemption from both the […]

TOG Update – May Issue

2017 HSA Contribution Limits and Minimum Deductibles The IRS has released the 2017 inflation adjusted amounts for health savings accounts (HSAs). To be eligible to make HSA contributions, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements. High Deductible Health Plan Coverage An HDHP has a higher annual deductible than typical health […]

TOG Update – April Issue

New ACA Guidance on SBC Templates, Cost-Sharing Limits, and Extended Transition Relief for Existing Coverage Employers should take note of important new agency guidance affecting a number of Affordable Care Act (ACA) requirements over the next year. Implementation Date for Using New Proposed SBC Template  A new FAQ regarding the applicable date for using the new proposed […]