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Emplo
yers Must Soon Use Yet Another New I-9 Form
New Document Could Be Liability Trap For Unsuspecting Employers
On July 17,2017, Fisher Phillips Employment Law Firm reported that, "i
t might seem like just yesterday that employers were told that they needed to use a new version of the Form I-9, the document verifying the identity of new hires to ensure they are authorized to work in the United States. Yet just eight months after the release of the most recent version, the United States Citizenship and Immigration Services (USCIS) has today released an updated Form I-9. Employers will need to adapt to the change and use the new form by no later than September 18, 2017 or face the possibility of large fines."
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The 2018 health savings account (HSA) guidelines were recently released by the Internal Revenue Service (IRS). These guidelines outline the inflation-adjusted contribution, deductible, and out-of-pocket spending limits for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2018.
2018 HSA Overview:
- Minimum deductible:
- Compliant HSA plan examples:
- One plan for self-only and family with an embedded deductible, the minimum deductibles are: $2,700 individual and $2,700 family
- One plan for self-only and family with a non-embedded deductible, the minimum deductibles are: $1,350 individual and $2,700 family
- $1,350 for self-only coverage (versus $1,300 in 2017)
- $2,700 for family coverage (versus $2,600 in 2017)
- $2,700 for embedded individual deductible (versus $2,600 in 2017)
- Out-of-pocket maximum:
- $6,650 for self-only coverage (versus $6,550 in 2017)
- $13,300 for family coverage (versus $13,100 in 2017)
- $6,650 for embedded individual out-of-pocket maximum (versus $6,550 in 2017)
- Compliant HSA/ACA plan examples:
- One plan for self-only and families with an embedded out-of-pocket maximum, the maximum amounts are: $6,650 individual and $13,300 family
- One plan for self-only and family with a non-embedded deductible, the maximum amounts are: $6,650 individual and $7,350 family
- Watch for the intersection of the HSA and Affordable Care Act (ACA) rules. The 2018 ACA maximum is $7,350 for individual and $14,700 family (versus $7,150 individual and $14,300 family in 2017).
HSA contribution limits:
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- $3,450 for self-only coverage (versus $3,400 in 2017)
- $6,900 for family coverage (versus $6,750 in 2017)
- The annual "catch-up" contribution amount for individuals age 55 or older will remain $1,000.
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Mid-Year Handbook Review:
Now is a great time to do a review of your employee handbook and determine if any policies need to be updated or added.
Benefits Renewal:
I
s your benefits renewal period in the 4th quarter? Are you prepared for the anticipated rise in cost? Start planning now for the predicted increase. Our team would love to assist you in creating the best benefits package for your employees.
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