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IRS Clarifies Status of Fixed-Indemnity Health Plans Claiming Big Tax Savings

McDermott Will & Emery Employee Benefits

A recent Internal Revenue Service (IRS) memorandum addresses the tax status of certain fixed-indemnity health plans that promise employers major payroll tax savings. The post IRS Clarifies Status of Fixed-Indemnity Health Plans Claiming Big Tax Savings appeared first on EMPLOYEE BENEFITS BLOG. Read the article.

Taxes 75
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Missed Payroll in the Wake of Bank Collapse: Implications, Strategies, and Minimizing Risk

Proskauer's Employee Benefits & Executive Compensa

In the wake of the recent news of bank failures, businesses—and their investors—are rightly concerned about the implications of a missed or delayed payroll. Obligation to Make Payroll Under federal and most state laws, employers have both timing-of-pay and frequency-of-pay obligations. For example, under Section 558.1

Banking 52
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Buyer Beware: The Newest Wave of Hospital/Fixed Indemnity Programs Promising Payroll Tax Savings

McDermott Will & Emery Employee Benefits

While varying in their design features and terminology, these programs all hold out […] The post Buyer Beware: The Newest Wave of Hospital/Fixed Indemnity Programs Promising Payroll Tax Savings appeared first on EMPLOYEE BENEFITS BLOG.

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The Top Payroll Companies in Massachusetts

Genesis HR Solutions

Looking into payroll companies in Massachusetts? But is a payroll company really all the help you need? Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. East Coast Payroll.

Payroll 52
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IRS Announces 2023 Limits for Health Savings Accounts, High-Deductible Health Plans and Excepted Benefit HRAs

McDermott Will & Emery Employee Benefits

Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2023.

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IRS Opines on the Tax Treatment of Employer-Funded, Insured, Fixed-Indemnity Wellness Policies

McDermott Will & Emery Employee Benefits

In light of recent Internal Revenue Service (IRS) guidance, employers should carefully examine any supplemental health plan, program or arrangement (which may or may not claim to leverage fixed indemnity insurance) that promises substantial payroll tax savings.

Taxes 98
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Top 10 Employee Perks Programs for 2024

HR Lineup

As we step into 2024, the landscape of employee benefits and perks is continuously evolving. These programs go beyond the traditional healthcare and retirement plans, incorporating elements that cater to employees’ holistic well-being.