The CheckPoint HR Blog

Offering Student Loan Repayment Benefits

Posted by Denise Bauwens on Fri, Apr 29, 2016

A tweak to the tax code could allow employers to pay back employees’ student debt. Two bills making their way through Congress (H.R. 1713 and H.R. 4363) could give companies tax incentives for helping employees repay their student loans.

Currently, if employees receive money from their employers to pay off student debt, it is considered taxable income. The bills aim to expand the tax code, allowing up to $5,250 per year to be treated as nontaxable income.

The average college graduate has $30,000 in debt. Since many young people prioritize paying off debt over saving for retirement, this could be a benefit that employers can use to attract talent. Although the bills are not expected to be passed during an election year, supporters are cautiously optimistic. Read More

Topics: employee benefits, human resources, Business Trends, Insurance Trends, student loans

2016 HR and Benefit Trends: Compliance gains urgency and support

Posted by Jim Pugliese on Tue, Feb 23, 2016

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HR and benefits continue to lead the list of challenges facing employers in 2016. Benefit costs, compliance hurdles and technology decisions loom large for companies of all sizes, and the changing workforce will force managers to rethink long-held standards and processes. 

In our recent white paper, CheckPoint HR identified five trends that offer a glimpse of what’s coming, along with actions you can take now to stay ahead of the curve and thrive in 2016. 

This week, we'll take a look at the second trend we identified: Compliance Gains Urgency and Support. 

 

Read More

Topics: employee benefits, human resources, 2016 hr trends, 2016 business trends, Business Trends, Insurance Trends, 2016 Trends, 2016 employee benefit trends

How Technology Can Streamline your Onboarding Process

Posted by Denise Bauwens on Fri, Feb 5, 2016

Almost a third of new hires begin looking for another job within the first six months. Yet, new employees who attended a well-structured onboarding orientation program, are almost 70 percent more likely to remain at a company up to three years. So, why do less than 30 percent of companies say they have a highly successful onboarding process? The fact is that onboarding can be time and resource intensive. With so many legally-required forms and compliance-related tasks, HR managers may neglect the important steps of welcoming the employee and preparing them to succeed in their new position.

The good news is that today's technology can help  make the onboarding process easier and less tedious for HR managers so they can focus on job requirements, goal setting and other employee development tasks. 

Ideas for improving onboarding with technology include:

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Topics: employee benefits, human resources, employee onboarding, onboarding, onboarding technology, employee onboarding technology

2016 HR and Benefit Trends that Actually Matter

Posted by Jim Pugliese on Mon, Jan 11, 2016

HR and benefits continue to lead the list of challenges facing employers in 2016. Benefit costs, compliance hurdles and technology decisions loom large for companies of all sizes, and the changing workforce will force managers to rethink long-held standards and processes. 

In our recent white paper, CheckPoint HR identified five trends that offer a glimpse of what’s coming, along with actions you can take now to stay ahead of the curve and thrive in 2016. This week, we'll take a look at each trend, why we selected it for the white paper, and its implications for employers in the year ahead. 

Let's start with our first trend: Flexibility Rules the Workplace

Read More

Topics: employee benefits, human resources, 2016 hr trends, 2016 business trends, Business Trends, Insurance Trends, 2016 Trends, 2016 employee benefit trends

Legislative Update

Posted by Ralph Spagnuola on Tue, Dec 22, 2015

Last week, President Obama signed into law an omnibus spending appropriations bill, and contained in this were several significant changes to the “Cadillac Tax” section of the Affordable Care Act. 

Read More

Topics: PPACA, aca

Creating a well-structured onboarding process

Posted by Tim Padva on Mon, Nov 30, 2015

When new employees join your organization, you’ve got one chance to forge a strong first impression and position them for success. That means the content and delivery of your onboarding process can mean the difference between a failed hire and a long-term contributing employee. Onboarding presents a complex challenge because it requires busy HR departments to quickly address multiple goals and tasks.

Read More

Topics: hr processes, onboarding

1094-C and 1095-C Reporting

Posted by Patrick Carragher on Wed, Oct 14, 2015

Do you have a plan for collecting the employee data required for filing IRS forms 1094-C and 1095-C?  

The ACA imposes significant and complex reporting responsibilities on employers starting with the 2015 calendar year. The new reporting requirements are similar to the current Form W-2 reporting in that an information return (Form 1095-B or 1095-C) will be prepared for each applicable employee, and these returns will be filed with the IRS using a single transmittal form (Form 1094-B or 1094-C). 

ACA Reporting Requirements

The ACA created new reporting requirements for employers about the health plan coverage they offer (or do not offer) to their employees. The requirements help the IRS administer several provisions under the ACA, including the Employer Shared Responsibility Penalty and the Individual Shared Responsibility Mandate.

Specifically, the IRS will use information reported by employers to determine:
  • Employees eligible for subsidies to purchase coverage through the Exchange (Marketplace)
  • Employees without Minimum Essential Coverage (MEC) that are subject to Individual Shared Responsibility Penalty
  • Large employers that fail to offer Minimum Essential Coverage (MEC) to full-time employees may be subject to penalties (See Appendix F: Penalties – Penalty “A”)
  • Large employers that fail to offer Minimum Value Affordable Coverage to full-time employees and may be subject to penalties. (See Appendix F: Penalties – Penalty “B”)
There are two types of ACA reporting:
  • Health insurance providers and sponsors of self-insured plans are required to report on the health coverage offered.
  • Employers categorized as an Applicable Large Employer (ALE), for employing at least 50 full-time employees including Full-Time Equivalents (FTEs) during the preceding calendar year, must report on terms and conditions of Health Coverage offered to all full-time employees.

Deadlines

The reporting requirement first applies for calendar year 2015 with reports due in early 2016:

  • 2015 Form 1095-C (employee statement): Due February 1, 2016
  • 2015 Form 1094-C (transmittal form with copies of Forms 1095-C): Due February 29, 2016 or March 31, 2016, if filing electronically. Employers must file electronically if more than 250 1095-C forms are being submitted.
The due dates are the same as the due dates for Form W-2 for the same calendar year. If the due date falls on a weekend or legal holiday, the employer may file by the next business day. Read More

Health Reform and the New York Small Group Market

Posted by Ralph Spagnuola on Thu, Jul 16, 2015

  The New Year is looming large for businesses with up to 100 employees. On January 1, 2016, the Affordable Care Act (ACA) definition of a small group will expand to include employers with up to 100 employees. If your organization fits in this category, you're about to become community rated, which means health insurers can no longer vary your premiums based on age, gender, health status or other factors. Taking medical underwriting out of the equation means you could see a 20% to 40% health insurance premium increase. You could also see a premium reduction. How your rates will be affected depends on how your group was previously underwritten.
Read More

Topics: PPACA, healthcare reform, community rating, new york

ACA 101: Reporting Requirements under Sections 6055 and 6056

Posted by Julianne Durante on Tue, Nov 25, 2014

The Affordable Care Act (ACA) established IRS reporting requirements under Code sections 6055 and 6056. Essentially, these rules require employers to provide information to the IRS about the health plan coverage they offer to employees.

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3 Times it Pays to have Integrated Benefits and Payroll Systems

Posted by Julianne Durante on Wed, Jun 25, 2014

Midway through 2014, integrated HR technology remains a trending topic for HR practitioners and organizations looking to streamline operations and save on administrative costs. Integration starts with payroll – the big data-keeper for your organization. Many HR Professionals are looking for payroll systems that are integrated with HRMS technology. But to get the most out of integration, some are getting ahead of the curve and looking for payroll systems that also integrate with benefits administration and enrollment software.

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Topics: employee benefits, HR Technology, HR Trend

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