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Benefits

Navigate the world of benefits, including medical insurance, retirement planning, and paid leave

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HSA Fast Facts: Waiting Periods for Rehired Employees

If an employer has terminated and then rehired an employee, certain circumstances may allow them to waive the waiting period for them upon their return.

HR Fast Facts: When Can I Start Using My Health Care FSA Funds?

You can start using your Health Care FSA on the first day of the plan and as soon as FSA funds are available.

HR Fast Facts: Code Series 2 for Form 1095-C, Line 16 Explained

Line 16 of IRS Form 1095-C lists a code that describes, for each month in the previous year, the kind of coverage that an employee enrolled in, and how the employer meets the employer shared responsibility "Safe Harbor" provisions of Section 4980H.

HR Fast Facts: What Happens to my LPFSA Funds When Employees Leave Company?

Once your employment ends, you won't be able to spend your LPFSA funds, but you do have 90 days to submit claims for LPFSA eligible expenses that you incurred while employed and during the current plan year.

HR Fast Facts: When to Provide Workers with their Last Paycheck

Federal law states that terminated workers must be paid within their regular pay period, but states have their own individual laws for furnishing workers with their last paycheck.

HR Fast Facts: How to Calculate Imputed Income for Life Insurance

Imputed income amounts for Basic and Voluntary Life plans are calculated using the volume of coverage on the plan (V) and an age-banded rate (r), which is determined by the IRS using the employee's age on the last day of the employee's tax year.

HR Fast Facts: Why Does an Employee have Deduction Adjustments?

Deduction adjustments are temporary increases (or decreases) in per-paycheck deductions to resolve differences between how much an employee has paid to date for their benefits and how much these benefits actually cost.

HR Fast Facts: Self-Insured Workers’ Compensation

A self-insured (also known as self-funded) workers compensation plan is one in which the employer assumes the financial risk for providing workers comp benefits to its employees.

HR Fast Facts: Filing the ERISA Form 5500

The Form 5500 series is a reporting and disclosure tool for the Department of Labor that satisfies annual reporting requirements for employee benefit plans.

HR Fast Facts: Benefits Available to Workers after Termination

After a worker is terminated, in most cases, the worker's benefits coverage will extend to the end of the month in which they were terminated. Some companies may have same-day or mid-month termination policies.

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