Federal Agencies Announce Pause on MHPAEA Final Rule Enforcement

The Consolidated Appropriations Act, 2021 (CAA) required medical plans to conduct a comparative analysis of the non-quantitative treatment limitations (NQTLs) under the plan. For the first few years following the enactment of the CAA, these rules were in a proposed state; however, in late 2024 the Department of Labor (DOL),...

IRS Issues 2026 HSA and EBHRA Limits

The IRS issued Revenue Procedure 2025-19, to announce the 2026 inflation-adjusted amounts for health savings accounts (HSAs), High-Deductible Health Plans (HDHPs) under the Internal Revenue Code (Code) and the maximum amount employers may contribute for excepted benefit health reimbursement arrangements (EBHRAs).  The new HSA and HDHP limits will go into effect...

HHS Releases HIPAA Security Proposed Rules

In light of ongoing cybersecurity concerns related to HIPAA protected information and the Department of Labor’s guidance, which reiterated its focus on cybersecurity, the Department of Health and Human Services Office for Civil Rights (OCR) issued a notice of proposed rulemaking (NPRM) to the Security Rule under the Health Insurance...

RxDC Reporting Due June 1, 2025

The Centers for Medicare and Medicaid Services (CMS) has updated the Prescription Drug Data Collection (RxDC) resources. The updates include changes to the RxDC Reporting Instructions and new RxDC templates and data dictionary.  As a reminder, the RxDC reporting was established as part of the transparency rules under the Consolidated Appropriations Act 2021...

Court Dismisses ERISA Fiduciary Class Action Against Johnson & Johnson

On January 24, 2025, the U.S. District Court of New Jersey dismissed two fiduciary breach claims in Lewandowski v. Johnson & Johnson, et al. (“Lewandowski”). In Lewandowski, the plaintiffs alleged Johnson & Johnson (“J&J”) breached its fiduciary duties to plan participants and beneficiaries by mismanaging its prescription drug plans when...

Medicare Part D Creditable Coverage Disclosure Due to CMS by March 1, 2025, for Calendar Year Plans

The Medicare Modernization Act (MMA) established annual notification requirements for employer-sponsored group health plans with prescription drug coverage. Per the MMA, employers sponsoring these plans are required to disclose annually the creditable status of the plan to The Centers for Medicare and Medicaid Services (CMS). This disclosure is due to...

National Philanthropy Day Award 2024

National Philanthropy Day was an amazing event put on by Association of Fundraising Professionals, New Jersey Chapter! Celebrating truly inspiring people in the heart of our South Jersey community! Innovative Benefit Planning was incredibly grateful to be recognized and joined by our community partners at the National Philanthropy Day Awards...

ACA Reporting Amendments Apply to Upcoming Reporting

President Biden signed two bills, Employer Reporting Improvement Act and the Paperwork Burden Reduction Act, into law which provide helpful updates to the Affordable Care Act’s (ACA) reporting requirements under Internal Revenue Code (IRC) Sections 6055 or 6056. The amendments are in effect for the 2024 reporting, which is due...

Updates for High Deductible Health Plans

Telehealth Flexibility Sunsetting in 2025  As a result of the CARES Act in 2020, HDHPs were permitted to provide first dollar telehealth coverage without negatively impacting HSA eligibility. This relief initially sunset in 2023. The Consolidated Appropriations Act, 2023 provided a two-year extension of the relief, with will not expire...

Secure 2.0 Retroactive Amendment

As we approach the end of the year, it’s important for Plan Sponsors to be aware of the new tax planning opportunities available under the SECURE Act. Plan Sponsors are now able to make a new tax-favored contribution to their existing plan after the close of their current tax year....

Deadline Approaching: HIPAA Rules to Limit the Use and Disclosure of PHI Related to Reproductive Health Care

As a result of the overturning of Roe v. Wade, the Department of Health and Human Services (HHS) released final rules aimed at ensuring the privacy of protected health information (PHI) related to lawful reproductive health care. Under the new rule, HIPAA-covered entities will be required to obtain signed attestation...

Gag Clause Prohibition Compliance Attestation Due by December 31, 2024

Background   When the Consolidated Appropriations Act, 2021 (CAA) was enacted by Congress on December 27, 2020, the law included a provision preventing group health plans and health insurance carriers from entering into health plan services contracts (such as a third-party administrator or health care provider contracts) with gag clauses...

Delaware Paid Family and Medical Leave Opt-Out Deadline is Approaching

Overview of Delaware PFML:  Starting January 1, 2026, Delaware’s PFML program will provide paid leave benefits to employees who have been employed for at least one year and have worked at least 1,250 hours in the most recent 12 months for various qualifying events, including: Caring for a new child...

Catch Up Provisions

New Catch-Up Limits Under Secure Act 2.0 As a plan sponsor, it’s crucial to stay informed about legislative changes that impact retirement plans. The Secure Act 2.0, signed into law on December 29, 2022, introduces several significant updates aimed at enhancing retirement security for Americans. One of the key optional...

MLR Rebates Due to Plan Sponsors by September 30, 2024

MLR Rebates Due to Plan Sponsors by September 30, 2024 The Affordable Care Act (ACA) outlines the requirements private health insurance issuers must follow, including obligations related to premium spending. The ACA requires health insurers to spend at least 80% to 85%, depending on the size of the market, of...

IRS Releases ACA Affordability Threshold for 2025

IRS Releases ACA Affordability Threshold for 2025 The IRS released Rev. Proc. 2024-25, announcing an increase in the ACA Affordability Contribution Rate from 8.39% in 2024 to 9.02% for the 2025 plan year. After three years of decreases in the ACA affordability threshold, this increase may be seen as welcome...

RetireReady NJ Exemption Registration is Fast Approaching!

RetireReady NJ Exemption Registration is Fast Approaching The New Jersey Secure Choice Savings Program Act requires certain New Jersey employers to establish a retirement savings program through the RetireReady NJ program, if they do not already sponsor a retirement savings plan. Once the program is established by the employer, New...

Court Issues Nationwide Block on the FTC’s Non-Compete Ban

The Court for the Northern District of Texas (the Court) issued a decision blocking the Federal Trade Commission’s (FTC) ban on non-compete agreements, which was set to go into effect September 4, 2024. The ban would have invalidated non-compete clauses, which typically prohibited workers from their previous employer’s competitor or...

Innovative’s Mark Sulpizio to speak at Garden State SHRM Conference

Learn more about the Garden State Council – SHRM Conference here! Secure Act 2.0 changes directly impact Roth accounts, IRA, 401(k), 403(b), and many related tax breaks; however, for the purposes of this document, the focus will be on 401(k) and 403(b) plans. Plan sponsors need to review their plan...

Upcoming Changes for HDHP Plan Sponsors Under Medicare Part D

Employers who sponsor group health plans must act now regarding the status of their prescription drug coverage in advance of changes to Medicare Part D that go into effect for 2025. The Inflation Reduction Act of 2022 (IRA) made changes to Medicare Part D to enhance benefits and enrollee cost...

Retirement Plan Checklist For Plan Sponsors

End of Year Checklist for Plan Sponsors: Ensuring Compliance and Maximizing Benefits As we approach the 4th quarter of 2024, it’s crucial for plan sponsors to take a proactive approach in reviewing their retirement plans. This end-of-year checklist will help ensure compliance with regulatory requirements and optimize the benefits for...

IRS Releases Education Assistance FAQs

The IRS recently released a Fact Sheet to address frequently asked questions related to educational assistance programs offered under IRC Section 127. Programs offered under this section allow employees to receive a tax-exempt benefit while providing employers with a tax deduction. The IRS noted that this Fact Sheet should not...

Secure 2.0 Student Loan Matching

The SECURE Act 2.0 allows employers to match employee student loan payments with retirement plan contributions. This benefit aims to help employees burdened with student debt save for retirement. Plan sponsors can implement this benefit to improve recruiting and retention. However, employers must navigate several considerations and challenges to implement...

Innovative Launches Secure 2.0 Act Readiness Checklist!

Secure Act 2.0 changes directly impact Roth accounts, IRA, 401(k), 403(b), and many related tax breaks; however, for the purposes of this document, the focus will be on 401(k) and 403(b) plans. Plan sponsors need to review their plan design, demographic data and discrimination testing to determine how the many...

Innovative Benefit Planning: 35 Years of Putting People First

This past February Innovative Benefit Planning was proudly featured in SJ Magazine for celebrating 35 years in business. We are grateful to have been recognized for our efforts, however, the true pride comes from the things we do for others, and the impact we make. Take a look at the article...

Innovative’s 5th Annual Well-Being @ Work Summit Recap

On May 7th, 2024 Innovative Benefit Planning hosted their 5th Annual Well-Being @ Work Summit, an event dedicated to making workplaces healthier, at the National Constitution Center in Philadelphia, PA!  The morning started out on the right foot with breathwork and gentle stretching lead by Spencer Broad. Out on the...

Navigating Auto-Portability in Retirement Plans: Key Fiduciary and Liability Considerations Under SECURE Act 2.0

The introduction of auto-portability rules under SECURE Act 2.0 aims to simplify transferring small retirement accounts when employees change jobs, reducing cash-outs and enhancing retirement savings. However, plan sponsors must consider fiduciary and liability implications before adopting this feature. Fiduciary Responsibilities Plan sponsors are fiduciaries under the Employee Retirement Income...

PCORI Fee Due July 31, 2024

The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2023-70, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan years that end on or after October 1, 2023, and...

Secure 2.0 Auto-Portability

Auto-Portability Explained: Auto-portability is a feature designed to help plan participants consolidate their retirement accounts when they change jobs. Here’s how it works: Problem: When employees switch employers, they often leave behind small balances in their old 401(k) accounts. These “orphaned” accounts can lead to administrative burdens for plan sponsors and...

IRS Issues 2025 HSA and EBHRA Limits

The IRS issued Revenue Procedure 2024-25, to announce the 2025 inflation adjusted amounts for health savings accounts (HSAs), High Deductible Health Plans (HDHPs) under the Internal Revenue Code (Code) and the maximum amount employers may contribute for excepted benefit health reimbursement arrangements (EBHRAs). The new HSA and HDHP limits will go...

Secure 2.0 Involuntary Cash-Out Provision

In today’s complex benefits landscape, plan sponsors face the challenge of managing retirement plans efficiently while ensuring compliance and participant satisfaction. One effective solution is the practice of involuntary cash-outs, which involves automatically distributing the retirement accounts of former employees when balances fall below a specified threshold. Integrating this provision...

Johnson & Johnson Class Action Lawsuit

Johnson & Johnson Class Action Lawsuit In early February, a federal class action lawsuit was filed against Johnson & Johnson (JNJ) and its plan fiduciaries, alleging overpayment for prescription drugs within its prescription drug plan. The complaint alleges that under the Employee Retirement Income Security Act of 1974 (ERISA), JNJ’s...

SECURE 2.0: IRS Issues Guidance on De Minimis Financial Incentives and Employer Roth Contributions

The Secure Act 2.0 has been signed into law with the goal of promoting retirement security among Americans. The bill contains dozens of provisions that will impact various aspects of retirement plans. As a plan sponsor, it’s important to understand how the Secure Act 2.0 will impact your organization and...

Tax Planning Profit Sharing

Navigating the complexities of tax planning, employers are constantly on the lookout for strategies that not only maximize their financial health but also amplify the value they provide to their employees. Among these strategies, profit sharing emerges as a standout approach, marrying financial prudence with a commitment to employee welfare....

Civil Monetary Penalties Announced for 2024

Civil Monetary Penalties Announced for 2024 The Department of Labor (DOL) has announced the Civil Monetary Penalties for 2024. Federal agencies are required to review the penalty amounts annually to adjust for inflation, a requirement established in 2015 as part of the Federal Civil Penalties Inflation Adjustment Act Improvements Act....

Cyber-threat Reported by Change Healthcare and UnitedHealth Group

On February 21, 2024, Change Healthcare released information regarding a cybersecurity issue resulting in an enterprise-wide network interruption. Change Healthcare is part of the health services provider Optum, Inc., which is owned by UnitedHealth Group. By Thursday, February 22nd, both Change Healthcare and UnitedHealth acknowledged the issue and announced it...

Secure 2.0 Emergency Savings

The IRS recently issued guidance regarding various provisions of Secure Act 2.0, including the “Pension-linked Emergency Savings Account” (PLESA) provision. This provision aims to alleviate financial strain on employees facing hardships. Effective January 1st, 2024, non-highly compensated employees can contribute to an emergency savings account through payroll deferrals. Participants can...

RxDC Reporting due to CMS by June 1, 2024

The Centers for Medicare and Medicaid Services (CMS) has updated the Prescription Drug Data Collection (RxDC) resources. The updates include changes to the RxDC Reporting Instructions and new RxDC templates and data dictionary. As a reminder, the RxDC reporting was established as part of the transparency rules under the Consolidated...

New Employee Classification Rule

In January, the Department of Labor (DOL) Wage and Hour Division introduced a rule that changes the way workers are classified under the Fair Labor Standards Act (FLSA). This Final Rule, effective March 11, 2024, offers a more comprehensive test to determine a worker’s status, potentially making it more challenging...

Medicare Creditable Coverage Disclosure Due to CMS by March 1, 2024

The Medicare Modernization Act (MMA) established annual notification requirements for employer-sponsored group health plans with prescription drug coverage. Per the MMA, employers sponsoring these plans are required to disclose annually the creditable status of the plan to The Centers for Medicare and Medicaid Services (CMS). This disclosure is due to...

Guidance On Coverage For Contraceptives

The Affordable Care Act (ACA) Implementation FAQs Part 64, issued on January 22, 2024, provide guidance on preventive service coverage. Prepared by the Departments of Labor, Health and Human Services, and the Treasury, they aim to enhance understanding and compliance with the law and specify that non-grandfathered health plans must...

2024 ACA Reporting Code Reference Sheet

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IRS Issues Additional Guidance for SECURE 2.0 Act

In an effort to provide necessary clarity for employers and plan sponsors, the Internal Revenue Service (IRS) issued long-awaited guidance for various provisions under the SECURE 2.0 Act (SECURE 2.0). This guidance comes in Question-and-Answer format and addresses twelve of the 90+ provisions under SECURE 2.0. Specifically, provisions related to...

IRS Releases 401(k) Guidance For Long-Term Part-Time Employees Under the Secure 2.0 Act

On November 24, 2023, the IRS released long-awaited guidance around the updated 401(k) eligibility requirements pertaining to long-term part-time employees (LTPT) under the SECURE 2.0 Act of 2022 (SECURE 2.0). These proposed regulations, if finalized, would amend the rules previously applicable to 401(k) plans and provide additional clarification for some...

IRS Issues 2024 FSA and Commuter Limits

On November 9, 2023, the IRS released the long awaited 2024 maximum contribution limits for Flexible Spending Arrangements (FSA) and Commuter accounts. A bit later than usual, Revenue Procedure 2023-34 follows the IRS’s announcement of the 2024 401(k) annual contribution limits, which were released November 1st.   For taxable years...

PS Plan and Retroactive Amendment

Under the SECURE Act, employers can adopt a profit-sharing plan for the prior year, as long as the plan is established before the employer’s tax-filing deadline, including extensions. This means that an employer could potentially adopt a profit-sharing plan as late as October 15th of the following year. Effective on...

Departments Move Forward with Enforcement of Deferred Machine-Readable File Requirement

The Departments of Labor, Health and Human Services and Treasury (The Departments) have released updated FAQs around the requirement for plans and issuers to post machine-readable files on a public website. Per the Consolidated Appropriations Act, 2021 (CAA), plans and issuers were required to post, in three separate machine-readable files,...

Joint Agency Guidance on Gag Clause Prohibition for Health Plan Agreement

On February 23, 2023, the Department of Labor (DOL), the Department of Health and Human Services (HHS), and the Internal Revenue Service (IRS) (the “Agencies”) released FAQs addressing the implementation of certain transparency requirements under the Consolidated Appropriations Act of 2021 (CAA). These joint-issued FAQs address additional compliance guidance on...

Ways to Improve Retirement Planning

As a plan sponsor, enhancing retirement plan performance is vital for the benefit of both participants and the plan’s long-term success. Effective strategies to improve retirement plan performance include: Implementing automatic features, such as enrollment and deferral escalation Offering a diverse menu of investment options for participants of all investment...

IRS Delays Roth Catch-Up Contribution Requirement under SECURE 2.0 Act

In light of concerns expressed by plan sponsors and participants alike, the IRS released Notice 2023-62 (“Notice”) which provides a two-year extension on the requirement related to Roth catch-up contributions under SECURE 2.0 Act (“the Act”). Specifically, the Notice states, “The Department of Treasury and the IRS have been made...

EEOC Announces 2022 EEO-1 Component 1 Submission Deadline

The U.S. Equal Employment Opportunity Commission (EEOC) has announced that the 2022 EEO-1 Component 1 data collection deadline for employers to submit demographic data. For 2022, data collection will begin on October 31, 2023. Eligible employers have until December 5, 2023, to submit their EEO-1 reports. The EEO-1 Component 1...

IRS Releases ACA Affordability Threshold for 2024

The IRS released Rev. Proc. 2023-29on August 23, 2023, announcing a decrease in the ACA Affordability Contribution Rate from 9.12% in 2022 to 8.39% for the 2024 plan year. This is an even greater decrease from what was announced for the 2023 tax year, which was formerly the most significant...

Notice of Proposed Rulemaking Released for the Pregnant Workers Fairness Act

The U.S. Equal Employment Opportunity Commission (EEOC) has issued a Notice of Proposed Rulemaking around the implementation of the Pregnant Workers Fairness Act (PWFA). The proposed rule, released for inspection August 7, 2023, aims to provide some needed clarification for employees and employers as they navigate the requirements under PWFA....

Fee Transparency

Fee analysis and transparency are vital for successful retirement plans. Understanding fee impacts and conducting benchmarking helps plan sponsors make informed decisions and protect themselves as fiduciaries. Below, we explore various fee types, and offer guidance for effective fee management in retirement plans. Fee analysis affects plan performance directly. Transparent...

New FAQ On No Surprise Act

Recently, the Departments of Labor, Treasury, and Health and Human Services (the “Departments”) released new frequently asked questions (FAQs) on the No Surprises Act and the Transparency in Coverage final rules, giving employers more guidance and clarity around health plan out-of-network providers and fee disclosures. Under the Affordable Care Act...

Flu Season is Approaching

Flu Season is Approaching – Let Innovative Workplace Wellness arrange a flu shot clinic for your employees. Flu season is quickly approaching and the best way to protect yourself and your employees from the flu is to get a flu shot. Reducing the spread of respiratory illnesses, like the flu,...

MHPAEA Opt-Out Expires

The Centers for Medicare & Medicaid Services (CMS) has issued guidelines regarding changes to the Mental Health Parity and Addiction Equity Act (MHPAEA) for self-insured non-federal governmental health plans. The Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) requires group health plans and health insurance issuers to ensure...

IRS Issues Guidance Related to Taxability of Wellness Indemnity Plan Payments

The IRS issued its fourth Chief Counsel Advice 202323006 (the “CCA”) to address the tax treatment of payments made to employees through employer-funded fixed indemnity insurance policies. Specifically, the guidance speaks to how wellness indemnity payments should be treated in the event an employee has unreimbursed out-of-pocket medical expenses related...

DHS Terminates I-9 Form Remote Option Flexibility; Considerations for Remote Workers

For employers that remotely verified I-9 forms during the pandemic, the deadline for completing in-person verification is fast approaching. As background, the Department of Homeland Security (DHS) had provided additional flexibility due to COVID-19 to review I-9 documentation remotely and had previously announced that employers would have until July 31,...

Pregnant Workers Fairness Act Goes Into Effect

Part of the Consolidated Appropriations Act, 2022, effective June 27, 2023, the Pregnant Workers Fairness Act (PWFA) requires employers with 15 or more employees to provide reasonable accommodations for job applicants and employees with known limitations related to pregnancy, childbirth and related medical conditions. The PWFA covers only accommodations and does not...

Participant Retirement Readiness

Assessing the effectiveness of your retirement plan is vital for ensuring participants’ readiness for retirement. By measuring retirement readiness, evaluating your plan’s performance, and implementing key strategies, you can improve participants’ preparedness. In this blog, we will discuss the importance of measuring retirement readiness, provide insights into evaluating plan effectiveness,...

PCORI Fee Due July 31, 2023

The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2022-59, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan years that end on or after October 1, 2022, and...

IRS Issues 2024 HSA and EBHRA Limits

The IRS issued Revenue Procedure 2023-23, to announce the 2024 inflation adjusted amounts for health savings accounts (HSAs), High Deductible Health Plans (HDHPs) under the Internal Revenue Code (Code) and the maximum amount employers may contribute for excepted benefit health reimbursement arrangements (EBHRAs). Significant increases to the limits are a...

5 Reasons to Hire a Financial Advisor for Your Retirement Plan

When managing a retirement plan, plan sponsors are faced with decisions that can affect the entire organization such as plan design, investment line-up, and who the recordkeeper will be. Unfortunately, many plan sponsors are not experts in qualified retirement plans or the ERISA laws that govern them. Decision makers for...

Federal Appeals Court Issues Stay On ACA Judgement

The Fifth Circuit Court of Appeals has issued a stay on a lower court ruling striking down certain preventive care coverage mandates under the Affordable Care Act. On March 30, 2023, the U.S. District Court in the Northern District of Texas issued its final ruling invalidating provisions of the ACA’s...

Missing Participant and Uncashed Checks

As a plan sponsor of a company retirement plan, it is important to have a process for locating missing participants and notifying participants of uncashed checks. Failure to do so can result in penalties and fines from regulatory agencies, as well as potential litigation from participants. Missing participants are those...

Federal Judge in Texas Strikes Down Key ACA Provision Regarding Preventive Care Services

On March 30, 2023, the U.S. District Court in the Northern District of Texas (Court) issued a final ruling invalidating certain provisions of the Affordable Care Act’s (ACA) preventive care mandate. Although the ultimate outcome of this decision remains to be seen, the ruling has created some confusion for plan...

DOL Signals July 10 as End of COVID-19 Outbreak Period, Despite Early End to National Emergency

On Monday, April 10, 2023, President Biden signed Congress’s jointly-introduced H.J Res. 7 into law, ending the COVID-19 National Emergency immediately instead of on May 11, 2023, as previously announced. However, the Department of Labor (DOL) has unofficially signaled that its previous guidance issued on March 29, 2023, stands, including...

Temporary Workers’ Bill of Rights Signed into Law in New Jersey

In early February 2023, Governor Phil Murphy signed the Temporary Workers’ Bill of Rights (the Bill) which expands the rights and protections afforded to temporary workers. The Bill is applicable to temporary laborers in a “designated classification placement,” which is defined as an assignment of a temporary laborer by a...

Profit Sharing Plan and Retroactive Amendment

As a follow-up to last month’s blog on the benefits of retroactively establishing a profit-sharing plan, the Secure Act 2.0 also gives retirement plan sponsors the ability to retroactively amend their existing plans to increase plan benefits as long as the plan is amended prior to the filing of the...

President Biden Adopts the New Regulations Impacting Working Mothers

Congress recently passed, through the Consolidated Appropriations Act, 2023, the PUMP for Nursing Mothers Act (the Act) which makes several changes to the Break Time for Nursing Mothers law, enacted in 2010. Under the Break Time for Nursing Mothers law, employers nationwide were required to provide reasonable break time and...

Internal Revenue Service Releases 2024 ACA Penalty Amounts

The Internal Revenue Service (IRS) released Rev. Proc. 2023-17, which outlines the inflation adjustments for the employer shared responsibility payments (ESRP) under the Affordable Care Act (ACA). Under the ACA’s pay or play rules, applicable large employees (ALEs) must offer affordable minimum-value health coverage to their full-time employees or be...

Tax Planning and Profit Sharing Plan

If you’re a business owner looking to save for retirement while also reducing your taxable income, adding a profit-sharing component to an employer retirement plan could be an attractive option. Not only does it allow you to set aside a portion of your profits for your retirement, but a profit-sharing...

President Biden Reveals Plan to End National COVID-19 Emergency

On January 30 President Biden issued a statement of policy to Congress in which he announced that the administration plans to end both the National Emergency related to COVID-19 originally declared by President Trump in 2020 and the public health emergency (PHE) declared by the U.S. Department of Health and...

EEOC Updates Guidance Related to COVID-19 Workplace Testing

In recognition of the changing circumstances related to the COVID-19 pandemic, the EEOC has updated its guidance around conducting testing for on-site employees. Employers covered by the Americans with Disabilities Act must assess whether the current workplace circumstances within their organization justify COVID-19 testing, if they are continuing to test....

Biden Administration Enacts Speak Out Act

Ahead of the close of the 117th U.S. Congress, the House of Representatives, with a vote of 315 – 109, quietly passed the Speak Out Act (“The Act”). President Biden signed the bill a few weeks later. Under the new law, nondisclosure and non-disparagement clauses related to allegations of sexual...

Feds Extend Prescription Drug Filing Deadline, Announce Relaxed Enforcement

The Departments of Labor, Health and Human Services, and the Treasury (collectively, the Departments) last week issued an FAQ that relieved filing entities from the December 27, 2022, deadline for providing certain information. The Departments understood many plans and carriers faced significant operational challenges in complying with the reporting requirements,...

Continuing Appropriations Act Extends HDHP Relief for Telehealth Services

President Biden last week signed the Continuing Appropriations Act, 2023 (CAA 23) to provide funding for the federal government through the current fiscal year. But employers also should know there were some critical benefits-related provisions tucked into CAA 23. Though many of the benefits sections of CAA 23 related to...

Innovative Named A Samaritan Gala Honoree

Innovative Benefit Planning is honored to be recognized as a “2023 Celebration of Life Gala Honoree” at this year’s Samaritan Gala. Each year, Samaritan honors an individual and/or company for their continued passion, dedication, and love for Samaritan and the community. This year, Samaritan is recognizing Innovative for our commitment...

Secure Act 2.0

The Secure Act 2.0 is poised to be signed into law with the goal of promoting retirement security among Americans. The bill contains dozens of provisions that will impact various aspects of retirement plans. As a plan sponsor, it’s helpful to understand how the Secure Act 2.0 will impact your...

Employers Prepare For Rx Reporting Deadline

Section 204 of the 2021 Consolidated Appropriations Act (CAA) outlined several requirements for group health plans and health insurers aimed at targeting rising prescription drug costs. In an effort to bolster transparency, the CAA created new obligations for plans to report specific prescription drug data to The Centers for Medicare...

Cafeteria Plans: Change in Status Events and Permissible Employee Election Changes

Cafeteria plans are governed by IRS Code Section 125 and allow employers to help employees pay for expenses such as health insurance with pre-tax dollars. Employees can choose between a taxable benefit (such as cash) and two or more specified pre-tax qualified benefits (health insurance, for example). Employees can select...

Updated: Temporary Flexibilities for Remote Document Examination for Form 1-9 Extended

Temporary Flexibilities for Remote Document Examination for Form I-9 Extended Again In March 2020, the Department of Homeland Security (DHS) and U.S. Immigration and Customs Enforcement (ICE) instituted a temporary policy which allowed employers with a remote workforce to defer physical presence requirements associated with Form I-9 and Section 274A...

“Family Glitch” Final Rule Released

Published October 13, 2022, The Department of Treasury released finalized regulations that make the premium tax credit (PTC) for Marketplace health coverage available to more individuals starting in 2023. Under the Affordable Care Act (ACA) regulations, employer-based health insurance is deemed “affordable” if the employee’s contribution for self-only coverage does...

Substantial Medical Loss Ratio Rebates Expected in 2022

Per the Kaiser Family Foundation, an estimated 8.2 million Americans will be due rebates for 2022. Further the analysis states that health insurers are expected to pay a total of $1 billion to policyholders.  In light of this, plan sponsors should be prepared to handle any Medical Loss Ratio (MLR)...

Health Plan Disclosure Requirements for Prescription Drugs

Under the Affordable Care Act (ACA) transparency-in-coverage (TiC) rules and provisions of the Consolidated Appropriations Act, 2021 (CAA), group health plan sponsors must both disclose and report detailed information regarding a plan’s prescription drug coverage and costs. There is significant overlap under the two sets of disclosure rules, which has...

Departments Issue No Surprises Act FAQ and Clarify Independent Dispute Resolution Process

The U.S. Departments of Health and Human Services, Labor, and the Treasury (the “Departments”) recently released final rules regarding the No Surprises Act. The rules specifically address required independent dispute resolution (IDR) of certain claims and expenses and finalize prior interim final rules relating to information that group health plans...

Innovative Benefit Planning Receives Women’s Business Enterprise Owned Certification

Innovative Benefit Planning is proud to announce that The Women’s Business Enterprise National Council, has awarded Innovative Benefit Planning the national ‘Women’s Business Enterprise’ certification. “Empowering women in the workplace and acknowledging their contributions to everyday operations is not only important but extremely necessary,” said Terriann Procida, CEO. “Having a...

President Biden Signs Inflation Reduction Act Into Law

On August 16, 2022, President Biden signed the long-awaited Inflation Reduction Act which aims to reduce rising health care costs and greenhouse gas emissions, as well as raise taxes on corporations. The President’s signature comes after the House and Senate passed the bill last week along party lines following much...

Biden Administration’s Fiscal Year 2023 Budget Calls for Increased Enforcement for MHPAEA

The Biden Administration’s FY 2023 proposed budget requests increased funds to enforce the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). Specifically, the budget would allot $125 million to the states for MHPAEA enforcement. Additionally, President Biden requested an additional $275 million for the Department of Labor (DOL)...

FDA Issues Final Rule Enabling Access to Over-the-Counter Hearing Aids

Around 30 million adults in the U.S. deal with some form of hearing loss, but only an estimated 1 in 5 have addressed the issue with the use of a hearing assistance device. On August 16, 2022, the U.S. Food and Drug Administration (FDA) issued a final rule that would...

IRS Announces ACA Affordability Contribution Percentage for 2023

The IRS announced a decrease in the ACA Affordability Contribution Rate from 9.61 in 2022 to 9.12 percent for the 2023 plan year, the most significant decrease since the ACA’s commencement. Under the ACA, Applicable Large Employers (ALEs), employers with 50 or more full time and/or full-time equivalent employees, are...

June/July 2022 Compliance Recap

The summer has seen a flurry of compliance-related activity, most notably the landmark decision issued by the U.S. Supreme Court to overturn Roe v. Wade. As we move into the second half of the 2022 employee benefits compliance calendar, there are a number of important issues to note. SCOTUS OVERTURNS ROE...

HHS Issues Proposed Rules under ACA Section 1557 to Clarify Scope of Discrimination Protections

The U.S. Department of Health and Human Services (HHS) has announced a proposed rule (Proposed Rule) implementing Section 1557 of the Affordable Care Act (ACA) that prohibits discrimination on the basis of race, color, national origin, sex, age, and disability in certain health programs and activities. The Proposed Rule is...

Retirement Plan Solutions to Address the Tight Labor Market

Employers who face staffing challenges in the current worker-driven labor market are implementing innovative retirement plan solutions to help them recruit new candidates and retain experienced personnel. Over the past two years, organizations have lost millions of valued team members as the Great Resignation and the Great Retirement boosted turnover....

Transparency in Coverage: Machine Readable Files

July 1, 2022, marks the effective date for plans and issuers to begin posting two Machine-Readable Files (MRF) links to a public website so individuals can readily learn their in-network group health plan costs, as well as historical paid amounts for out-of-network services. Ahead of this deadline, plans and issuers...

Innovative Benefit Planning Named “Top Employee Benefits Consultant” Award

Innovative Benefit Planning is honored to be recognized by Mployer Advisor as a winner of their “Top Employee Benefits Consultants” Awards for 2022. The program evaluates brokers based on breadth and depth of experience across employer industries, sizes, insurance products, and employer reviews. Innovative was recognized as a broker that...

Supreme Court Issues Ruling in Dialysis Case

In a 7-2 decision, the U.S. Supreme Court has issued its opinion in Marietta Memorial Hospital Employee Health Benefit Plan v. DaVita Inc., ruling in favor of Marietta Memorial Hospital’s health plan. In the Court’s opinion, drafted by Justice Brett Kavanaugh, the Court held the plan did not violate a...

An Employer’s Guide to Workplace Protections for Abortion-Related Decisions

Employers likely have questions about abortion-related employment protections and healthcare benefits after Friday’s SCOTUS controversial decision that overturned Roe v. Wade. Given the ruling, people in states with strict abortion limitations may end up traveling to other states to receive abortion-related care. Can employees take job-protected leave to obtain such...

Innovative Launches Employee Lifecycle Tool Kit

Innovative is excited to launch our Employee Life Cycle Tool Kit! Today’s tight labor market and the broad range of flexible work/life options make it more important than ever to properly manage each step in the employee lifecycle. Addressing their emerging needs means employers must engage their teams at each...

7 Low-Cost Initiatives Employers Can Incorporate in Their D&I Programs Now

Countless studies show that employers who focus on diversity and inclusion policies and practices help increase employee engagement and boost overall happiness in the workplace, thus improving retention. Research shows that companies with diverse, inclusive teams generate 19% more revenue and perform 35% better than their industry average. While integrating...

May 2022 Compliance Recap

The month of May again brought relatively little major employee benefit compliance guidance from federal agencies. However, there was plenty of activity in the courts to provide useful insight into steps employer plan sponsors can take to safeguard against benefits litigation. DEPARTMENT OF LABOR PROVIDES MENTAL HEALTH CONDITION GUIDANCE UNDER...

What Health Plan Sponsors Need to Know about Publishing Machine-Readable Files

June 1, 2022 As of July 1, 2022, group health plans must clear one of the first major compliance hurdles required by the Affordable Care Act’s (ACA) Transparency in Coverage (TiC) Final Rules. By that date, plans and insurance carriers must have prepared and posted two machine-readable files (MRFs) to...

Temporary Flexibilities for Remote Document Examination for Form I-9 Extended

In March 2020, the Department of Homeland Security (DHS) and U.S. Immigration and Customs Enforcement (ICE) instituted a temporary policy which allowed employers with a remote workforce to defer physical presence requirements associated with Form I-9 and Section 274A of the Immigration and Nationality Act. Initially applicable only to employers...

April 2022 Compliance Recap

After several very quiet months this year, April saw renewed compliance activity. The IRS provided guidance on transportation fringe benefits unused due to COVID-19 workplace changes and announced inflation-adjusted amounts for HSAs and HRAs. The Centers for Medicare & Medicaid Services (CMS) announced Medicare Part D rates and the parameters...

Innovative’s 3rd Annual Well-Being @ Work Summit Recap

On May 12th, 2022 Innovative Benefit Planning hosted the 3rd Annual Well-Being @ Work Summit, an event dedicated to making workplaces healthier, at the Adventure Aquarium in Camden, NJ!  The morning started out on the right foot with complimentary biometric screenings and breakfast during registration, while attendees also had time...

2022 Patient-Centered Outcomes Research Institute (PCORI) Fee

The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2022-4, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan years that end on or after October 1, 2021,...

Innovative Gets Certified in Mental Health First Aid Training in the Workplace

Innovative Benefits Planning is pleased to announce that our Nurse Advocate, Erica Polaneczky, has become certified in Mental Health First Aid Training. This certification allows her to provide Mental Health First Aid in the workplace training for employers. Mental Health First Aid (MHFA) teaches employers how to identify, understand, and...

IRS Issues 2023 HSA and HRA Limits

The IRS issued Revenue Procedure 2022-24, to announce the 2023 inflation adjusted amounts for health savings accounts (HSAs) under Section 223 of the Internal Revenue Code (Code) and the maximum amount employers may contribute for excepted benefit health reimbursement arrangements (HRAs). Significant increases to the limits are a result of the...

Utilizing Pulse Surveys and Stay Interviews for Retention and Culture

Keeping your employees engaged in their work is an ongoing component in the employee life cycle. This directly leads to their retention and success in the organization. Retaining your employees and how that impacts overall culture are important to stay on top of. For many organizations, conducting exit interviews has...

37% of Employees Cite Stress for Leaving Their Job: Learn How You Can Prevent This

Employers who are already challenged to find and keep top talent amidst a tough job market may find that high levels of workplace stress are making it more difficult to assemble and sustain a solid workforce. Recruiting and Retention With stress levels higher than ever in the early 2020s, several...

Innovative is Featured in SJ Magazine for Creating a Culture of Giving Back

Innovative Benefit Planning LLC was proudly featured this month in SJ Magazine for our culture of “giving back” to our community. We are grateful to have been recognized for our efforts, however the true pride comes from the things we do for others, and the impact we make. Take a...

2021 EEO-1 Component 1 Data Collection Portal is Now Open

The U.S. Equal Employment Opportunity Commission (EEOC) has announced that the 2021 EEO-1 Component 1 data collection portal is now open. Eligible employers have until May 17, 2022, to submit data to the portal. The EEO-1 Component 1 report is a mandatory annual data collection that requires all private sector...

Are You Leveraging Population Health Management Correctly to Mitigate Claims Risk?

While all health plans face the possibility of higher claims, properly managing your employee’s risk pool and population health can help mitigate claims risk and reduce costs in your plan. Population health management identifies, evaluates, and manages the risks facing an organization and its plan participants. While employers cannot prevent...

Three Major Differences Between a Broker and Fiduciary Plan Sponsor

For plan sponsors, managing a 401(k) plan can be complex and time-consuming. Some plan sponsors hire outside advisors to help the plan stay compliant with the various IRS and ERISA regulations. When hiring outside advisors, many plan sponsors are unaware of the added benefits of hiring an investment fiduciary as...

9 Things to Consider About Your Advance Directive

It is no surprise that Stress Awareness Month and National Healthcare Decisions Day fall on the calendar simultaneously. If you are caring for a parent, spouse, or other family member, you want to honor their wishes, values, and goals. At the same time, you are no stranger to the stress...

Proposed Rule Would Fix the “Family Glitch”

Under the current Affordable Care Act (ACA) regulations, employer-based health insurance is deemed “affordable” if the employee’s contribution for self-only coverage does not exceed the affordability threshold in a given year (9.61% in 2022). Those who do not have access to affordable employer-based coverage may qualify for a premium tax...

House Passes Secure Act 2.0 Bill

In a 414-5 bipartisan vote, the House of Representatives has passed a bill that, if enacted, is said to improve the retirement savings system in the United States by expanding coverage and increasing retirement savings. The Securing a Strong Retirement Act, colloquially known as Secure Act 2.0 builds on the...

Temporary Flexibilities for Expired List B Identity Documents to End

In May 2020, the Department of Homeland Security (DHS) instituted a temporary policy which allowed employees to present expired List B identification documents for I-9 purposes. As a reminder, Form I-9 is used to verify the identity and employment authorization of individuals hired for employment in the United States. This...

Innovative Announces the 3rd Annual Well-Being @ Work Summit

Innovative is excited to announce the date for our 3rd annual Well-Being at Work Summit. Join us on Thursday, May 12th, from 9:00am-3:00pm, at Adventure Aquarium in Camden, New Jersey. This Year’s Theme: Unfortunately, due to things like the pandemic, isolation and burnout, employee mental illness is on the rise....

Government Funding Bill Extends CARES Act Relief for HDHPs

President Biden recently signed The Consolidated Appropriations Act, 2022 (CAA) into law. As part of the 2022 CAA, COVID-related telehealth coverage can be covered at no cost-share for High Deductible Health Plans (HDHPs) in a similar fashion to what was allowed under the CARES Act starting April 1, 2022 through...

The DOL’s Compliance Assistance Release No. 2022-01 401(k) Plan Investments in “Cryptocurrencies”

As plan advisors, we’ve had increasing questions from plan sponsors and committees about the availability and merits of Crypto backed investment options.   With their release last week, the DOL has made their position very clear: they will investigate plan fiduciaries who make these types of investments available, even through brokerage...

Tax Planning Opportunities Through Proper Retirement Plan Design

Many business owners, principals, and executives are not aware of the tremendous personal and corporate tax benefits that can be achieved through the proper retirement plan design. Most retirement plans are designed for administrative efficiency – not for tax planning purposes. As a result, most businesses are not aware of...

Four Steps to Create a Stable Renewal Environment

Large renewal rate increases frustrate employers and plan sponsors each year. They might experience significant, double-digit rate hikes one year; a smaller uptick the second; and another large increase the third year. Owners, CFOs, and HR executives would prefer stable, predictable trends so they can better budget for future costs....

The Connection of Healthy Hearts and Minds in the Workplace

American Heart Month, observed every February since 1963, raises awareness about the dangers of heart disease and promotes lifestyle changes that can help people improve their heart health. Despite this, heart disease remains the leading cause of death among Americans. However, the American Heart Association (AHA) is now expanding the...

January 2022 Compliance Recap

January brought breaking news that the U.S. Supreme Court (the Court) would stop OSHA from enforcing its employee COVID-19 test or vaccinate emergency temporary standard (ETS) for employers with 100 or more employees. Although the decision doesn’t end the OSHA ETS permanently, it means that the ETS is unlikely to...

Departments Clarify Required Coverage of At-Home OTC COVID-19 Tests

The Departments of Labor, Health and Human Services, and the Treasury (collectively, the Departments) recently issued updated FAQ guidance to explain how employer group health plans may comply with the requirement to cover with no cost-sharing or preauthorization at-home over-the-counter (OTC) COVID-19 tests provided with no prescription or health care...

Delivery Requirements for Summary Plan Description

It’s so important for employers to understand the requirements around annual notices and annual delivery of theirs SPDs and their SBCs. There is great potential for a penalty if an employee were to request that document and not receive it within 30 days; those penalties can be up to $100...

How to Reset & Reflect After Benefits Renewal Season

The hectic benefits renewal season is finally winding down for many employers, with open enrollment meetings and all the logistical challenges and decisions behind us for 2021.  We’re ready to relax and move on to new challenges during the new year. But wait a second: maybe we shouldn’t put renewal season...

Solutions for Recruiting in a Candidate-Driven Market

Employers recruiting top-quality talent face new challenges as they navigate the current candidate-driven market. During 2020, the pandemic gave us an employer-driven market, where high unemployment rates and reducing hiring meant more candidates competed for fewer openings. By mid-2021, the dynamic shifted to a candidate driven-market, as the economic recovery...

Government Distribution of Free at-home COVID-19 tests

Starting January 19th, 2022, Americans will be able to order a test online at COVIDTests.gov. To ensure broad access, the program will limit the number of tests sent to each residential address to four tests. Tests will usually ship within 7-12 days of ordering. To help distribute the message to...

Supreme Court Blocks OSHA Vaccine-or-Test Mandate But Allows Vaccine Mandate for Healthcare Workers to Proceed

Oral arguments on the OSHA vaccine-or-test mandate and vaccine mandate for healthcare workers were heard on January 7, 2022. As a result, the U.S. Supreme Court has issued two opinions with different outcomes on January 13th. Both opinions are discussed in greater detail below. OSHA Vaccine-or-Test Mandate In a 6-3...

How to Detect Employee Burnout and 15 Ways Employers Can Help Reduce It

Employee burnout continues to grow as the global pandemic enters its third year. In fact, experts say burnout is a primary cause for the Great Resignation, in which a record 39 million U.S. workers quit their jobs during the first 10 months of 2021. The root causes of employee burnout...

DOL Guidance On At-Home COVID-19 Tests

The Departments of Labor, Health and Human Services (HHS), and the Treasury (collectively, the Departments) issued Frequently Asked Questions (FAQs) Monday that generally require group health plans and insurers to cover the costs of at-home over-the-counter COVID-19 tests (OTC COVID-19 Tests) approved by the U.S. Food and Drug Administration (FDA)...

December 2021 Compliance Recap

December was a quiet month in the compliance world in terms of large announcements, but lots of little information trickled in over the month. OSHA’s vaccine-or-test mandate for large employers and vaccine mandate for health care organizations is headed for the Supreme Court, set to be heard on January 7,...

Vaccine Mandate for Healthcare Workers Reinstated as U.S. Supreme Court Prepares to Hear Oral Arguments on Vaccine Mandates

The Centers for Medicare and Medicaid Services (CMS) issued an emergency ruling in November 2021, which would require eligible staff at health care facilities participating in Medicare and Medicaid programs to be fully vaccinated against COVID-19. The mandate was quickly challenged in several states, resulting in a nationwide stay on...

Sixth Circuit Lifts Stay on OSHA COVID-19 Vaccine Mandate for Employers with 100+ Employees

The U.S. Court of Appeals for the Sixth Circuit has issued an opinion lifting the stay on the vaccine-or-test mandate for employers with 100 or more employees. The stay was imposed by the Fifth Circuit Court of Appeals in November as a result of the Emergency Temporary Standard (ETS) released...

End-of-Year Reminders for Companies with Retirement Plans

As 2021 draws to a close and everyone begins preparing for a new year, employers with qualified retirement plans should review several factors that could affect their plans before moving on to 2022. The fourth quarter presents a perfect opportunity for plan sponsors to take a snapshot of the year’s...

How to Reset and Reflect After Benefits Renewal Season

The hectic benefits renewal season is finally winding down for many employers, with open enrollment meetings and all the logistical challenges and decisions behind us for 2021.  We’re ready to relax, enjoy the holiday season, and move on to new challenges during the new year. But wait a second: maybe we...

End of Year Employee Benefits Compliance Checklist

From ACA reporting to new federal regulations, employers are faced with several obligations as they close out the year and begin to plan for 2022. To help comply with your obligations, we have complied a list of important items that apply to employer-sponsored group health plans to either review and/or...

November 2021 Compliance Recap

November saw quite a bit of activity in the compliance space. Although OSHA’s vaccine-or-test mandate for private employers was issued, it was immediately met with resistance in the form of lawsuits and a stay from the Sixth Circuit Court of Appeals. The mandates for federal contractors and health care workers...

Important Steps to Approach 2022 Strategic Workforce Planning

More employers are turning to workforce planning to provide the necessary information to better manage their talent pool to meet their organization’s strategic needs. The events of the past two years have encouraged more organizations to pay attention to workforce planning as they prepare for the opportunities and possible disruptions...

Promoting End of Year Workplace Wellness Engagement

As we near the end of the year, don’t let your wellness program slip through the cracks. With the holidays approaching, flu season here, and 2022 planning in full effect, now is the perfect time to evaluate your organization’s end of year wellness initiatives to keep your employees healthy and...

IRS Proposes Permanent Extension for Distributing ACA Reports

The IRS has issued proposed regulations, which, if finalized, would extend the annual furnishing deadlines for Internal Revenue Code (IRC) Sections 6055 and 6056 reporting under the Affordable Care Act (ACA) permanently. IRC Sections 6055 and 6056 outline reporting requirements for employers and providers to confirm whether individuals have acquired...

COVID-19 High Deductible Health Plan and IRC Section 125 Changes Expiring in 2022

Provisions in the CARES Act allowed HSA-qualified High Deductible Health Plan (HDHP) participants to receive telemedicine care on a first-dollar basis for plan years beginning on or before December 31, 2021. Additionally, the IRS issued guidance allowing HDHPs to cover the testing and treatment of COVID-19 prior to a participant...

How We Resolved One Client’s Self-Funding Worries Through Proprietary Confidence Projection

Client Industry: Technology Number of Employees: 240 Service Provided: Statistical risk analysis and probability projections. Challenges Our client had considered transitioning from fully insured to self-funding for several years. Although we projected the change would bring considerable savings, they remained concerned by the risk that the model might not perform...

Innovative Launches New Resource Page

All good things must come to an end and be replaced with something better! With that being said, Innovative Benefit Planning is thrilled to announce the launch of our new and improved resource page! After months of hard work and devotion to the client experience, we are bringing you a...

OSHA Suspends Emergency Temporary Standard (ETS) Vaccine Mandate

On November 17, 2021, OSHA suspended the execution and enforcement of its Emergency Temporary Standard (ETS) mandating employers with 100 or more employees to implement mandatory COVID-19 vaccination and testing policies. This suspension came after the Fifth Circuit Court of Appeals granted a motion to stay the mandate until further...

5 Ways Employers Can Address Mental Health in the Workplace

Mental health is top of mind everywhere these days as about 20% of adult Americans report symptoms of mental illness according to the Centers for Disease Control.  Workplace mental health concerns such as anxiety, stress, and depression had already been growing, and then the COVID-19 pandemic and remote work situations...

IRS Issues 2022 FSA and Commuter Limits

The IRS has announced the 2022 max contribution limits for FSA and Commuter accounts [Revenue Procedure 2021-45]. All FSA and Commuter plans (for the 2022 plan year) will be updated with the 2022 contribution limits. If you have any questions, please contact your account team or email us at icomply@ibpllc.com....

October 2021 Compliance Recap

October was a relatively quiet month in the compliance space. While we are still waiting for the U.S. government to release the guidance on broker compensation disclosures, here are the highlights of happenings in October. FAQs from the Departments on COVID-19 Vaccines and Employer-Sponsored Group Health Plans On October 4,...

OSHA Issues Emergency Temporary Standard regarding COVID-19 Vaccine Mandate

On November 5, 2021, the Occupational Health and Safety Administration (OSHA) released the emergency temporary standard (ETS) requiring businesses with at least 100 employees to mandate employee vaccinations or wear masks and be tested for COVID-19 weekly. Employers subject to the vaccine mandate must begin to create a written vaccination...

Innovative Investment Fiduciaries Receives CEFEX Certification for 3rd Consecutive Year

Over the years, we have worked hard to earn a trusted reputation, which is why we are honored to announce our certification renewal with CEFEX, the Centre for Fiduciary Excellence, LLC, for the third consecutive year. CEFEX is an independent global assessment and certification organization. Its mission is to promote...

IRS Decreases Federal Affordability Percentage to 9.61% for Plan Years Beginning in 2022

IRS Decreases Federal Affordability Percentage to 9.61% for Plan Years beginning in 2022 Per the Affordable Care Act (ACA), Applicable Large Employers (ALEs), employers with 50 or more full time and/or full-time equivalent employees, are required to offer affordable minimum value coverage to all full-time employees and their dependents. To...

Innovative Saves Company From a $440,000 Renewal Increase with 45 Days Till Renewal

Challenges A construction company with 100 employees was facing a 29 percent renewal increase for its employee benefits package. The additional cost, which was over $440,000, was much more than the company could absorb. Passing the costs on to the employees through less coverage and higher deductibles seemed like the...

Departments Issue Further Guidance Under No Surprises Act

On September 30, 2021, the Department of Health and Human Services, the Department of Labor, and the Department of the Treasury (collectively, the Departments), along with the Office of Personnel Management (OPM), released an interim final rule (IFR) under the No Surprises Act (Act) to help protect health care consumers...

Tamalyn Wandler Joins Innovative as Director of Compliance

Innovative Benefit Planning is pleased to announce that Tamalyn Cee Wandler, JD, has joined our team as Director of Compliance. In her new role, Tamalyn will assist clients with their compliance auditing and educating them on the various federal and state regulations, assess areas of weakness, determine potential liability, and...

Coordinate Your Flu Shot Clinic Today!

Flu season here and the best way to protect your employees from the flu is to encourage them to get a flu shot! There are always benefits from receiving the flu vaccination, however, due to the ongoing COVID-19 pandemic, this year is more important than ever for your employees to...

September 2021 Compliance Recap

September saw a lot of activity in the compliance space, especially coming from the federal government. Vaccine Mandate Guidance Still Pending Vaccine mandates were on everyone’s mind, especially after Delta Airlines announced its $200 monthly surcharge and weekly testing program for unvaccinated employees. The government joined the fray when President...

Employers COVID-19 Vaccine Resources & Kit

Sometimes it’s hard to keep up with all the latest recommendations and regulations. In an effort to ease the burden, we have compiled eight important resources that you can access when planning your COVID-19 vaccine practices. Access Here

Biden Announces New Vaccination Executive Order

President Joe Biden took aim at vaccine resistance in America, announcing policies requiring most federal employees to get COVID-19 vaccinations and pushing large employers (100+) to have their workers inoculated or tested weekly. The below article outlines more details on these items included in the orders: OSHA is directed to...

Innovative Launches New Groundbreaking Benefit Performance Assessment

Innovative Launches New Groundbreaking Benefit Performance Assessment Innovative has launched our new groundbreaking, proprietary Benefit Performance Assessment. This complimentary assessment shows employers how they can cut waste, take control of healthcare costs, and provide better service solutions. All within an hour of your time and without impacting the coverage offered...

Innovative Welcomes Polina Lipskaya as Underwriting Associate

Innovative Welcomes Polina Lipskaya as Underwriting Associate Please join us in welcoming Polina Lipskaya as our newest Underwriting Associate.  In this role, Polina will be a key member of the Client Service team.  She will directly support the Account Executives, Account Managers, and Consultants with quoting, reporting and the overall...

ARPA Subsidy Period Expiration Reminder and Updated Guidance

ARPA Subsidy Period Expiration Reminder and Updated Guidance Subsidy Period Expiration Notice ARPA requires subsidy expiration notices to be sent to Assistance Eligible Individuals (“AEIs”) prior to the expiration of the Subsidy Period. This Expiration Notice should be sent no more than 45 days and no less than 15 days...

Innovative Promotes John Romaska to Vice President of Consulting

Innovative Promotes John Romaska to Vice President of Consulting Innovative Benefit Planning is excited to announce John Romaska has been promoted to Vice President of Consulting. John previously served as our Director of Benefits Consulting, where his responsibilities included strengthening Innovative’s relationships with current clients and overall advancement of the...

Departments Defer Transparency and Disclosure Rule Enforcement, Provide FAQ Guidance

Departments Defer Transparency and Disclosure Rule Enforcement, Provide FAQ Guidance On August 20, 2021, the U.S. Departments of Health and Human Services, Labor, and Treasury (collectively, the Departments), issued FAQ guidance regarding provisions of the Affordable Care Act (ACA), the No Surprises Act (the Act) and the Consolidated Appropriations Act,...

No Surprise Billing: Interim Final Regulations Part 2

No Surprise Billing: Interim Final Regulations Part 2 On July 1, 2021, the U.S. Departments of Health and Human Services, Labor, and Treasury, along with the Office of Personnel Management (collectively, the Departments), issued an interim final rule (IFR) to explain provisions of the No Surprises Act (the Act) that...

Innovative Welcomes Adam Cardell as Executive Account Manager

Innovative Welcomes Adam Cardell as Executive Account Manager We are excited to announce the latest addition to the Innovative Benefit Planning team! Adam Cardell has joined Innovative as an Executive Account Manager.  As an Executive Account Manager, Adam will be responsible for strengthening Innovative’s relationships with current clients, as well...

Innovative Welcomes Carly Vettori to our Team as a Benefits Sales Consultant

Innovative Welcomes Carly Vettori to our Team as a Benefits Sales Consultant We are excited to announce the latest member of Innovative Benefit Planning! Please join us in welcoming Carly Vettori to our team as a Benefits Sales Consultant.  In this role, Carly will help us to understand the customer...

6 Tips for a Healthier Summer BBQ

6 Tips for a Healthier Summer BBQ Grilling is a fun way to prepare some of your favorite foods, especially during the summer. Try out a new recipe and follow these tips to make your summer cooking adventures healthy and flavorful this season! Add color. So many different fruits and...

Innovative Welcomes Nicoletta Torres as New Account Manager

Innovative Welcomes Nicoletta Torres as New Account Manager We are excited to announce the latest addition to the Innovative Benefit Planning team! Please join us in welcoming Nicoletta Torres as our newest Account Manager.  As an account manager, Nicoletta will be a valuable resource to Innovative’s leadership team, employees, and...

June 2021 Compliance Recap

June 2021 Compliance Recap June 2021 was not a busy month in the benefits industry, largely due to the summer vacation season and the Independence Day holiday. Importantly, however, the U.S. Supreme Court upheld the constitutionality of the Patient Protection and Affordable Care Act (ACA). Additionally, the IRS unveiled a...

The IRS Issues the Most Recent Update to Form 941

The IRS Issues the Most Recent Update to Form 941 On June 24, 2021, the Internal Revenue Service issued the most recent update to Form 941, the Employer’s Quarterly Federal Tax Return. The form has several new lines added to obtain credits for the COBRA subsidies offered under the American...

IRS Issues Draft Form 1095-C

IRS Issues Draft Form 1095-C The Internal Revenue Service (IRS) recently issued the 2021 Draft Form 1095-C, which is required to be filed with the IRS by applicable large employers (ALEs), to report the offer of health coverage to employees. New Codes An ALE that offers an individual coverage health...

EEOC Extends EEO-1 Deadline for 2019 and 2020 Data Submissions

EEOC Extends EEO-1 Deadline for 2019 and 2020 Data Submissions The New Deadline Gives Employers Another Month–Until August 23– To Complete Their Reports   Employers now have some extra time to submit equal employment opportunity (EEO-1) workforce data from 2019 and 2020, the U.S. Equal Employment Opportunity Commission (EEOC) announced on...

Andrew May Promoted to Senior Account Manager – Financial Services

Andrew May Promoted to Senior Account Manager – Financial Services Innovative Benefit Planning is pleased to announce the promotion of Andrew May to Senior Account Manager-Financial Services. Andrew has been a part of the Innovative financial service team for over two years, serving as a Financial Services Associate. During this...

No Surprise Billing: Interim Final Regulations Part 1

No Surprise Billing: Interim Final Regulations Part 1 On July 1, 2021, the U.S. Departments of Health and Human Services, Labor, and Treasury, along with the Office of Personnel Management (collectively, the Departments), issued an interim final rule (IFR) to explain provisions of the No Surprises Act (the Act) that...

Benefits of a CEFEX Certified Advisor

Benefits of a CEFEX Certified Advisor A CEFEX (Centre for Fiduciary Excellence) certified advisory firm adheres to a standard representing the best practices in their industry. They abide by a global fiduciary standard of excellence with specific criteria covering 21 best practices. In fact, the documented repeatable processes and the...

3 Reasons Every Employer Should Benchmark Their Health Plan

3 Reasons Every Employer Should Benchmark Their Health Plan As employers are competing for the race for talent and trying to bend the rising health care cost curve, benchmarking employee benefits is more important than ever. Here are three advantages to benchmarking health benefits: Bragging Rights: Employee benefits are a...

4 Ways to Leverage National Insurance Awareness Day to Increase Employee Awareness and Participation

June 28th is National Insurance Awareness Day! It was created as a day to review your insurance coverage and is also a great time to help your employees understand the benefits that are available to them. Focus today on empowering your employees to better understand, appreciate and participate in their...

EEOC Issues Updated COVID-19 Vaccination Assistance

EEOC Issues Updated COVID-19 Vaccination Assistance The Center for Disease Control (CDC) and the Equal Employment Opportunity Commission (EEOC) have issued this information related to vaccinations: Employers must be aware that certain individuals may opt to not be vaccinated, either for religious reasons or for medical reasons Under the Americans...

Supreme Court Effectively Upholds ACA in Texas v. United States Ruling

Supreme Court Effectively Upholds ACA in Texas v. United States Ruling On June 17, 2021, the U.S. Supreme Court upheld the constitutionality of the Patient Protection and Affordable Care Act (ACA) by a 7-to-2 vote. The Court heard oral arguments in the case, California v. Texas, on November 10, 2020,...

4 Ways Digital Open Enrollment Guides Improve Employee Engagement

4 Ways Digital Open Enrollment Guides Improve Employee Engagement Every year open enrollment season allows employees to start, stop, or change their existing health insurance plans. Often, however, open enrollment can be a source of confusion, leaving employees with a lack of understanding and underutilizing their plan. Digital open enrollment...

May 2021 Compliance Recap

May 2021 Compliance Recap May 2021 was a somewhat busy month in the benefits industry. The absence of a significant of amount of agency guidance during the summer months is to be expected. However, the IRS finally issued guidance on the temporary 100% COBRA subsidy mandated by the American Plan...

Upcoming Challenges with ACA in 2021

Upcoming Challenges with ACA in 2021 IRS Eliminates Transition Relief and Removes Threshold Expanding Eligibility In previous year, the IRS has provided relief of penalties to reporting entities that report incomplete or incorrect information as long as these entities can show they made a good-faith effort to comply with the...

IRS Draft Form 941 Reflects COBRA Subsidy Tax Credit

IRS Draft Form 941 Reflects COBRA Subsidy Tax Credit The IRS recently released a draft of the revised 2021 version of Form 941, Employer’s Quarterly Federal Tax Return, in order to, in part, reflect the tax credit in connection with the 100% COBRA subsidy under the American Rescue Plan Act...

Frequently Asked Questions About the Patient-Centered Outcomes/Comparative Effectiveness (PCORI Fee)

Q1: What plans does the PCORI fee apply to? A1: All plans that provide medical coverage to employees owe this fee. Medical coverage includes preferred provider (PPO) plans, health maintenance organization (HMO) plans, point-of-service (POS) plans, high deductible health plans (HDHPs), and health reimbursement arrangements (HRAs). The fee does not...

BCBSA Antitrust Settlement Classes Eligible for Proceeds

BCBSA Antitrust Settlement Classes Eligible for Proceeds November 5, 2021 is the deadline for filing a claim in connection with the Blue Cross Blue Shield Association (BCBSA) $2.67 billion settlement reached in October 2020. The class action lawsuit was filed more than eight years ago by subscribers seeking injunctive and...

2021 Patient-Centered Outcomes Research Institute (PCORI) Fee

2021 Patient-Centered Outcomes Research Institute (PCORI) Fee The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2020-84, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan...

Why Employers Should Benchmark Their Health Plan Before Renewal

Why Employers Should Benchmark Their Health Plan Before Renewal Benchmarking your health plan during renewal ensures that the benefits being offered continue to be a right fit for the company and employees based on data-driven decisions. On the other hand, a poorly planned renewal done in the dark can cause...

Frequently Asked Questions About the Patient Centered Outcomes/Comparative Effectiveness (PCORI) Fee

Q1: What plans does the PCORI fee apply to? A1: All plans that provide medical coverage to employees owe this fee. Medical coverage includes preferred provider (PPO) plans, health maintenance organization (HMO) plans, point-of-service (POS) plans, high deductible health plans (HDHPs), and health reimbursement arrangements (HRAs). The fee does not...

Discover How We Helped One Client Reduce Their Retirement Plan Fees by 30%

Discover How We Helped One Client Reduce Their Retirement Plan Fees by 30% When offering your plan directly with a qualified plan provider, many employers are not aware of what they might be missing. As a result, we often find that many Plan Sponsors are paying more and receiving less....

IRS Issues 2022 HSA and HRA Limits

IRS Issues 2022 HSA and HRA Limits The IRS issued Revenue Procedure 2021-25 on May 10, 2021, to announce the 2022 inflation adjusted amounts for health savings accounts (HSAs) under Section 223 of the Internal Revenue Code (Code) and the maximum amount that may be made newly available for excepted...

April 2021 Compliance Recap

April 2021 Compliance Recap April was a busy month in the benefits industry, largely due to the temporary 100% COBRA subsidy mandated by the American Plan Rescue Act of 2021 (the ARP). The Departments of Labor, Treasury and Health and Human Services (the Departments) jointly issued FAQs regarding the amendments...

5 Steps to Create a Financial Wellness Program

5 Steps to Create a Financial Wellness Program Many employers offer health wellness programs for their organization. However, financial wellness is equally as important. Studies show that 47% of employees are stressed about their finances, which can impact their productivity in the workplace. While starting a financial wellness program may...

5 Reasons Employers Should Carve Out Prescription Drug Benefits

5 Reasons Employers Should Carve Out Prescription Drug Benefits Prescription Drugs typically makes up 20% of an employer’s overall spend, and with the rise in specialty drugs, industry experts expect that number to encroach 50%. Employers have the ability to “carve-out” this coverage from their medical plan, resulting in significant...

Innovative Launches New Online Health Plan Benchmarking Tool

Innovative Launches New Online Health Plan Benchmarking Tool Benchmarking is more important than ever. Knowing how your health plan compare to your peers allows you to be competitive in recruiting and retaining the best employees, assist with making data-driven decisions during renewal planning, and see how your health plan costs...

Innovative Launches New Digital Employee Benefit Guide Technology

Innovative Launches New Digital Employee Benefit Guide Technology As technology continues to transform the workplace, HR professionals are seeking new and improved ways to deliver their health plan benefits, while gaining rich backend intelligence to improve the utilization of the plan. We have the solution! Innovative Benefit Planning is excited...

The DOL Issues ARPA COBRA Subsidy Forms

The DOL Issues ARPA COBRA Subsidy Forms On April 7, 2021, the Department of Labor (DOL) issued the much awaited COBRA Model Notices required under the American Rescue Plan Act of 2021 (ARPA), implementing the 100% COBRA Subsidy for eligible individuals. In order to assist plan sponsors with implementing the...

Environmental, Social and Governmental (ESG) Fund Best Practices for Plan Sponsors

Environmental, Social and Governmental (ESG) Fund Best Practices for Plan Sponsors Socially responsible investing has grown in popularity as investors become more aware of how organizations operate from an environmental, social and governance perspective. Environmental factors may include a company’s carbon output, overall resource consumption and impact to air and...

March 2021 Compliance Recap

March 2021 Compliance Recap The employee benefits guidance issued in March 2021 was largely focused on providing relief to individuals and businesses impacted by the continuing COVID-19 pandemic. Significantly, on March 11, 2021, the American Rescue Plan Act of 2021 (the Act) was enacted into law which, in part, mandates...

Innovative’s 2020 Consulting Highlights

Innovative’s 2020 Consulting Highlights 2020 was a challenging year for many, but here at Innovative, we were dedicated to delivering the best value and results for our clients. Not only were we successful in reducing costs for our clients, but we were able to provide them with a number of...

PPE as Section 213(d) Qualified Medical Expenses

PPE as Section 213(d) Qualified Medical Expenses The Internal Revenue Service (IRS) released Announcement 2021-7 providing that amounts paid for personal protective equipment (PPE) such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19, are qualified medical expenses under Internal Revenue Code...

American Rescue Plan Act Brings Several Health Plan Provisions

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (Act). The Act is a $1.9 trillion legislative package that includes pandemic relief for individuals and families. The Act contains several provisions including funding to the Centers for Disease Control and Prevention, stimulus checks, unemployment benefits,...

Is Level Funding a Good Fit for Your Employee Benefits Plan?

Is Level Funding a Good Fit for Your Employee Benefits Plan? Level funding is a great strategy for employers that are interested in self-funding, but like a plan that looks and feels like it is fully insured. Level funding acts just like a fully insured plan, except it provides the...

February 2021 Compliance Recap

February 2021 Compliance Recap February was a relatively busy month in the employee benefits world. The Department of Labor (DOL) issued EBSA Disaster Relief Notice 2021-01 regarding the end of the COVID-19 outbreak period. The Internal Revenue Service (IRS) issued Notice 2021-15 providing guidance on health flexible spending arrangements (FSAs),...

Final Rule on the Extension of Certain Timeframes For Employee Benefit Plans, Participants, and Beneficiaries Due to COVID-19

Final Rule on the Extension of Certain Timeframes For Employee Benefit Plans, Participants, and Beneficiaries Due to COVID-19 The DOL issued EBSA Disaster Relief Notice 2021-01 providing that the outbreak period relief noted below ends on the earlier of one year from the date an individual or plan was first...

Incorporating Wellness into Your Employee Benefits Strategy

Incorporating Wellness into Your Employee Benefits Strategy Wellness is a strategy that continues to gain in popularity as employers are looking for ways to help their employees become healthier, more engaged, and happier at work. Wellness is typically broken into three categories. The first category is educational wellness. With an...

Reference Based Pricing

Reference Based Pricing With healthcare costs skyrocketing at unsustainable levels, employers are considering nontraditional methods of funding their medical plans. One nontraditional method that employers are starting to consider is called reference based pricing, or RBR. This method has proven to reduce overall benefit spend 20 to 30%, when compared...

Innovative Launches Employee Management Training; PeopleForce 2030

Innovative Launches Employee Management Training; PeopleForce 2030 Innovative Benefit Planning, LLC is excited to launch PeopleForce 2030, a three-part employee training series consisting of facilitated and interactive 90-minute sessions that discuss leadership competencies including “Interpersonal Savvy”, “Dealing with Ambiguity”, and “Building Resilience”. Whether your employees are charged with leading and...

Innovative Launches COVID-19 Employee Monitoring and Advocacy Solution

Innovative Launches COVID-19 Employee Monitoring and Advocacy Solution Innovative Benefit Planning, LLC is here to help your organization bring your employees back to the workplace safely and securely. In order to so, we are proud to launch our COVID-19 Employee Health Tracker, which will provide employers a COVID-19 monitoring and...

What is Bundled Pricing?

What is Bundled Pricing? Many employers are frustrated with a lack of financial and quality transparency in the healthcare marketplace. As such, many employers have considered offering a bundled pricing solution to their employees. Bundled pricing is a unique solution that provides employees the opportunity to shop for a procedure...

January 2021 Compliance Recap

January 2021 Compliance Recap January was a busy month in the employee benefits world. President Biden issued a memorandum putting a regulatory freeze on new rules. President Biden also issued an executive order on strengthening Medicaid and the Patient Protection and Affordable Care Act (ACA). The Department of Labor (DOL)...

Understanding Captives and Consortiums

Understanding Captives and Consortiums As health insurance costs continue to rise, many small and mid-size employers have looked for ways to alternatively fund their plans and potentially save costs. Self-funding can be daunting and unmanageable for many small to mid-size employers, but there are many self-funding options to consider. Captives...

EEOC Releases Proposed Wellness Rules under ADA and GINA

EEOC Releases Proposed Wellness Rules Under ADA and GINA The EEOC recently released proposed language revising the wellness incentive rules under the ADA and GINA. This proposed language is a revision to the rules released in 2016. Below is a summary of the proposed changes and how they may impact...

2021 Minimum Wage Increases

2021 Minimum Wage Increases As of January 1, 2021, several US states increased their minimum wage rate. Please note, however, that some cities or municipalities may have a minimum wage rate even greater than their statewide rate. Below outlines effective wages for states where the rate will be changing. Alaska:...

December Compliance Recap

December was a busy month in the employee benefits world. President Trump signed the Consolidated Appropriations Act, 2021, which includes the No Surprises Act and other group health plan provisions. The Centers for Disease Control Advisory Committee on Immunization Practices (ACIP) issued two interim recommendations for COVID-19 vaccines. The Department...

2021 Plan Sponsor Considerations

The events of 2020 created many new considerations for plan sponsors as individuals were faced with uncertainty and sought safety both financially and personally. The CARES Act was passed to assist individuals and businesses impacted by the pandemic, and investors witnessed a volatile investment market causing many to adjust their...

Consolidated Appropriations Act, 2021: Temporary Health FSA and DCAP Relief

Consolidated Appropriations Act, 2021 Temporary Health FSA and DCAP Relief The Consolidated Appropriations Act, 2021 (Appropriations Act), enacted on December 27, 2020, contains temporary rules to provide relief for participants in health flexible spending arrangements (FSAs) and dependent care flexible spending arrangements (DCAPs) in light of the COVID-19 pandemic. The...

Mandatory Coverage of COVID-19 Vaccines under Group Health Plans

Mandatory Coverage of COVID-19 Vaccines Under Group Health Plans On December 11, 2020, the Food and Drug Administration (FDA) issued an Emergency Use Authorization for the Pfizer-BioNTech COVID-19 vaccine (Pfizer vaccine). The following day, December 12, 2020, the Centers for Disease Control Advisory Committee on Immunization Practices (ACIP) issued an...

Congress Passes New $1.4 Trillion Stimulus & COVID-19 Relief Bill and Awaits President’s Signature

Congress Passes New $1.4 Trillion Stimulus & COVID-19 Relief Bill and Awaits President’s Signature Details have emerged on the new $1.4 trillion omnibus spending bill which provides a $900 billion COVID-19 Stimulus package. The bill awaits President Trump’s signature and as of last night, he requested that Congress amend the...

Blue Cross Blue Shield Association Tentative $2.67 Billion Antitrust Settlement

Blue Cross Blue Shield Association Tentative $2.67 Billion Antitrust Settlement  Blue Cross Blue Shield Association (BCBSA) has recently reached a tentative $2.67 billion settlement arising out of a class action lawsuit filed more than eight years ago by subscribers seeking injunctive and compensatory relief arising out of BCBSA’s alleged violation...

Healthy for the Holidays

Healthy for the Holidays Tis’ the Season for Temptations While the holidays are an exciting and eventful time of year, holiday festivities can often revolve around eating and drinking. Traditions involve baking cookies, high calorie drink making, and eating plentiful holiday meals.  We tend to get so busy around this...

November Compliance Recap

November Compliance Recap November was a relatively busy month in the employee benefits world. The U.S. Supreme Court (Supreme Court) heard oral arguments in the case of California v. Texas, which is the case challenging the constitutionality of the ACA. The Internal Revenue Service (IRS) released the updated Patient-Centered Outcomes...

Partially Self-Funded Plans with an HRA

Partially Self-Funded Plans with an HRA As health insurance costs continue to rise, more and more small and mid-size employers are looking for ways to take control of their healthcare costs. A health reimbursement account, or an HRA, is a way in which employers can step into self-funding and start...

Fostering Company Culture in a Remote Environment

Fostering Company Culture in a Remote Environment It has been a challenging year for all of us, to say the least. Many businesses were forced to make the move to a remote environment, while others have maintained in-person operations with serious restrictions on gatherings. While business as we know it...

Updated PCORI Fee Released

Updated PCORI Fee Released Employers that sponsor certain self-insured health plans are responsible for Patient-Centered Outcomes Research Institute (PCORI) fees. Under the Affordable Care Act, PCORI fees were originally scheduled to apply to policy or plan years ending on or after Oct. 1, 2012 and before Oct. 1, 2019. However, in Dec....

How to Host a Virtual Company Holiday Party

How to Host a Virtual Company Holiday Party This holiday season may be different for many organizations than it has in the past, but that doesn’t mean that the holidays need to be disregarded all together.  One thing is for certain, and that is that your team has worked diligently...

Free Child Education Resources

Free Child Education Resources As most children are learning virtually as a result of the COVID-19 pandemic, many parents are looking to compliment their education with additional resources.  Especially now, there are a great deal of free resources available for all subject matter.  Check out some of the most popular...

End of Year Wellness Initiatives to Drive Employee Well-Being

End of Year Wellness Initiatives to Drive Employee Well-Being As we near the end of the year, don’t let your wellness program slip through the cracks. With the holidays approaching, flu and germ season here, and 2021 planning in full effect, now is the perfect time to evaluate your organization’s...

Understanding Key Health Insurance Terms

Understanding Key Health Insurance Terms The language of health insurance can be confusing but understanding some key terms will help your employees comprehend the basics of your organization’s plan, allowing them to make smart decisions that will benefit their family. Rather than feeling confused, encourage them to review the following...

The CDC Redefines “Close Contact”

The CDC Redefines “Close Contact” As the number of reported cases of COVID-19 continues to rise, employers are increasingly confronted with questions and obligations regarding their workforce.  With that being said, employers should be aware that as of October 21st, the CDC revised the definition of “close contact” to include...

October Compliance Recap

October was a busy month in the employee benefits world. The Department of Health and Human Services (HHS) renewed the public health emergency due to COVID-19 which took effect on October 23, 2020. The Internal Revenue Service (IRS) issued Notice 2020-76 regarding deadline extensions and requirements for reporting of group...

Final Rules on Coverage Transparency

Final Rules on Coverage Transparency On October 29, 2020, the Internal Revenue Service (IRS), Department of Labor (DOL), and the Department of Health and Human Services (HHS) (collectively, Departments), released final rules on coverage transparency, in order to provide health coverage recipients with an estimate of their potential cost-sharing liability...

Better Sleep for Better Health

Better Sleep for Better Health As we approach the holiday season, it is important to remember to take some time to care for yourself. The holidays can be extremely busy, stressful, and even draining at times. Don’t forget to make yourself a priority. Self-care is about taking time for yourself,...

6 Self-Funding Strategies to Suit Your Needs

6 Self-Funding Strategies Self-funding is nothing new as it has been a common form of health plan financing since 1974. Self-funding provides great flexibility with plan designs and provides freedom from most state laws. In fact, over 60% of US employees are covered under a self-insured medical plan. Under self-funded...

NJ Employers Must Adhere to Latest Executive Orders Mandating Health and Safety Protocols for COVID-19

NJ Employers Must Adhere to Latest Executive Orders Mandating Health and Safety Protocols for COVID-19 On October 28, 2020, New Jersey Governor Phil Murphy signed Executive Order No. 192 (EO 192), which mandates that New Jersey employers abide by certain health and safety standards in an effort to protect employees...

IRS Announces 2021 Plan Limitations

IRS Announces 2021 Plan Limitations The IRS has recently announced the qualified plan limitations for 2021, which are determined based on annual increases in the cost of living index. Because there was only a modest increase in the index, most of the plan limits have not changed from 2020. For...

How Working With a Qualified Plan Advisor Can Improve Your Audit Experience

How Working With a Qualified Plan Advisor Can Improve Your Audit Experience Hiring a quality qualified plan advisor provides many advantages to employers that sponsor a retirement plan. Specifically, one of those advantages is improving your annual qualified plan audit. As each audit season begins, employers often dread having to...

2021 IRS Contribution Limits for FSA and Commuter Benefits

2021 IRS Contribution Limits for FSA and Commuter Benefits On Tuesday, the IRS released 2021 contribution limits for medical FSA and Commuter Benefits for 2021. There are no changes to flexible spending account (FSA) and commuter benefits contribution limits for 2021. The IRS did adjust the contribution limits for adoption...

CARES ACT & FFCRA Tax Credits for Eligible Employers

CARES ACT & FFCRA Tax Credits for Eligible Employers Eligible employers are entitled to receive a credit in the full amount of the required sick leave and family leave, plus related health plan expenses and the employer’s share of Medicare tax on the leave, for the period of April 1,...

3 ACA Reporting Errors and The Pandemic’s Impact

3 ACA Reporting Errors and The Pandemic’s Impact As we approach the end of 2020, we must consider how the various enrollment fluctuations due to the COVID-19 Pandemic will impact the ACA Employer Mandate and the already tedious 1095/1094 ACA Reporting. The IRS recently granted a March 2nd deadline extension...

September Compliance Recap

September Compliance Recap September was a relatively quiet month in the employee benefits world. President Trump issued an executive order on An America-First Healthcare Plan, noting the Administration’s actions on healthcare and planned actions going forward. A federal district court halted the repeal of certain provisions of the prior final...

Have You Received an MLR Rebate Check? What To Do Next?

Have You Received an MLR Rebate Check? What To Do Next? The Affordable Care Act requires health insurance carriers to spend at least 80-85 percent of premium dollars on medical care and healthcare quality improvement. If the carrier does not meet this medical loss ratio (MLR) obligation, it must give...

Dust Off That Old Policy: Why Now is a Good Time to Review Your Life Insurance Policies

Dust Off That Old Policy: Why Now is a Good Time to Review Your Life Insurance Policies As a result of the COVID-19 National Emergency, insurance companies have modified their underwriting requirements to help individuals secure additional life insurance protection. Through new “relaxed” underwriting guidelines, insurers are offering coverage without...

IRS Extends ACA Reporting Deadline for Furnishing Statements for 2020 from February 1 to March 2, 2021

IRS Extends ACA Reporting Deadline for Furnishing Statements for 2020 from February 1 to March 2, 2021 As the deadline for reporting of group health coverage offered in 2020 under the Patient Protection and Affordable Care Act (ACA) approaches, the Internal Revenue Services (IRS) has issued IRS Notice 2020-76 (Notice)...

How Employers Can Show Support on World Mental Health Awareness Day

How Employers Can Show Support on World Mental Health Awareness Day World Mental Health Day is recognized annually to promote education for global mental health, as well as create awareness and advocacy against social stigma.   This yearly observance has occurred since 1992 and carries with it a yearly theme.  It...

Participant Risk Assessment

Participant Risk Assessment As we work our way through a market recovery and closer to what could be a greater period of uncertainty around the upcoming election, now may be a good time for participants to review the equity risk associated with their retirement account and understand if their current...

New FAQs Address Questions Employers May Ask to Screen Employees for COVID-19 and ADA Requirements for Handling Employees’ Medical Information 

New FAQs Address Questions Employers May Ask to Screen Employees for COVID-19 and ADA Requirements for Handling Employees’ Medical Information  On Sept. 8, 2020, U.S. Equal Employment Opportunity Commission (EEOC) issued additional answers to frequently asked questions (FAQs) about how employers should comply with the Americans with Disabilities Act (ADA)...

August Compliance Recap

August 2020 Compliance Recap August was a relatively busy month in the employee benefits world. The Congressional Research Service (CRS) released an updated report on health savings accounts (HSAs) that summarizes the principal rules governing HSAs and changes made to HSAs as a result of the COVID-19 pandemic. The Department...

What Steps Can Plan Sponsors and Retirement Plan Committee Members Take to Protect Themselves?

What Steps Can Plan Sponsors and Retirement Plan Committee Members Take to Protect Themselves? When managing a qualified retirement plan, there are certain duties the plan sponsor and committee members have to the plan and participants as named fiduciaries. These duties create liability for the plan sponsor and committee members...

July Compliance Recap

July was a busy month in the employee benefits world. The U.S. Supreme Court (Supreme Court) upheld the religious exemption and moral exemption final rules to the Patient Protection and Affordable Care Act (ACA) contraceptive mandate. The Internal Revenue Service (IRS) released the indexed 2021 ACA affordability percentage. The President...

Return to Work Training Kit

Return to Work Training Kit Bring your employees back to work safely with our “Return to Work Training Kit.” Innovative has developed two training tools that you can use in conjunction with each other to educate your employees on what you are doing in response to COVID-19, understand what they...

Important Plan Considerations Regarding FSA Mid-Year Changes

Important Plan Considerations Regarding FSA Mid-Year Changes As you are aware, in order to provide additional relief to Americans during these challenging times, the IRS released Notice 2020-29 and 2020-33. These notices provided new relaxed rules for 2020 that affected Health Flexible Spending Accounts (FSAs). As a reminder if you...

Put Your Advisor to the Test

Put Your Advisor to the Test Ask these critical questions to test the knowledge of future plan advisors. A knowledgeable plan advisor is an important component in the successful operation of your qualified plan. However, selecting the right candidate requires more than simply reviewing typical Request for Proposal (RFP) responses....

Becoming Sun Sensible This Summer

Becoming Sun Sensible This Summer According to skincancerprevention.org, every year in the U.S. nearly 5 million people are treated for skin cancer.  Exposure to ultraviolet (UV) light is a major risk factor for most skin cancers, so sun safety is extremely important. Skin cancers start when UV rays damage the...

June Compliance Recap

June was a busy month in the employee benefits world. The Internal Revenue Service (IRS) released the updated patient-centered outcomes research institute (PCORI) fee amount and announced transition relief. The Department of Health and Human Services’ Office for Civil Rights (OCR) published a final rule regarding the Patient Protection and...

PCORI Fees are Extended an Additional 10 Years

PCORI Fees are Extended an Additional 10 Years As a reminder, employers that sponsor certain self-insured health plans are responsible for Patient-Centered Outcomes Research Institute (PCORI) fees.  Fees for plan years that ended in 2019 are due July 31, 2020. Under the Affordable Care Act, PCORI fees were originally scheduled to apply...

Judge Rules for HHS in Price Transparency Case

Judge Rules for HHS in Price Transparency Case A federal judge ruled against the American Hospital Association (AHA) on Tuesday in its lawsuit attempting to block an HHS rule pushing for price transparency. The judge ruled in favor of the department, which requires hospitals to reveal private, negotiated rates with insurers beginning...

DOL Launches Online Tool to Help Employees Determine FFCRA Eligibility

DOL Launches Online Tool to Help Employees Determine FFCRA Eligibility The U.S. Department of Labor launched an interactive online tool to help workers determine if they qualify for paid sick leave or extended family and medical leave to cover time away from work for reasons related to the coronavirus. The tool guides...

President Trump Signs Paycheck Protection Flexibility Act

President Trump Signs Paycheck Protection Flexibility Act The President authorized the Paycheck Protection Flexibility Act on June 5th after it was passed by the House on May 28th with only one dissenting vote and passed unanimously by the Senate on June 3rd.  This act changes provisions surrounding loan forgiveness through...

May Compliance Recap

May was a busy month in the employee benefits world. The Internal Revenue Service (IRS) issued IRS Notice 2020-29 that provides increased flexibility for making mid-year elections or changes under a Section 125 cafeteria plan during calendar year 2020 and provides increased flexibility to apply unused amounts in health flexible...

HSA Limits Released for 2021

IRS issued the 2021 cost-of-living adjustments for Health Savings Accounts and High Deductible Health Plans.     2020 2021 Self-Only Contribution Limit $3,550  $3,600 Family Contribution Limit $7,100  $7,200 HDHP – self-only coverage     Annual deductible not less than: Annual out-of-pocket expenses do not exceed:   $1,400   $1,400...

COVID-19 Impact on Retirement Plan Discrimination Testing

COVID-19 Impact on Retirement Plan Discrimination Testing As a result of COVID-19, many employers have made financial, operational, and employment-related changes. Plan sponsors need to consider how the following actions may impact the results of their 2020 retirement plan discrimination testing: Changing or Discontinuing the employer 401K match Retirement plan...

Paycheck Protection Program (PPP) Loan Forgiveness Application

Paycheck Protection Program (PPP) Loan Forgiveness Application On Friday, May 15th the SBA has released their forgiveness application with detailed instructions on how to complete the form.   While the release promised further guidance on loan forgiveness, Innovative has received a lot of questions surrounding the calculation of Full Time Equivalent (FTE)...

Further Guidance on Internal Revenue Service Notice 2020-29

Further Guidance on Internal Revenue Service Notice 2020-29 The Internal Revenue Service (IRS) issued IRS Notice 2020-29 (Notice) that provides increased flexibility for making mid-year elections or changes under a Section 125 cafeteria plan during calendar year 2020 related to employer-sponsored health coverage, health flexible spending arrangements (health FSAs), and...

April Compliance Recap

April was a busy month in the employee benefits world. The President signed the Paycheck Protection Program and Health Care Enhancement Act (PPPHCEA). The Department of Labor (DOL) and the Department of the Treasury (Treasury) released a final rule extending certain timeframes under the Employee Retirement Income Security Act (ERISA)...

IRS Releases Two New COVID-19 Notices

IRS Releases Two New COVID-19 Notices To provide additional relief to Americans during these challenging times, the IRS released Notice 2020-29 and 2020-33. These notices provided new relaxed rules for 2020 for making elections under Cafeteria plans, using amounts during a grace period or carryover period changes to the method...

Open Enrollment and Outcomes Based Health Screenings Options During COVID-19

Open Enrollment and Outcomes Based Health Screenings Options During COVID-19 Due to the COVID-19 outbreak, employers who were planning on offering on-site health screenings tied to payroll deductions are unfortunately being forced to consider other options.  Thankfully, the screening vendors have been flexible with delaying screening dates. As an employer,...

Final Rule on the Extension of Certain Timeframes for Employee Benefit Plans Due to COVID-19

On March 13, 2020, President Trump issued the Proclamation on Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID-19) Outbreak and by separate letter made a determination, under Section 501(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, that a national emergency exists nationwide beginning March...

Paycheck Protection Program and Health Care Enhancement Act

Paycheck Protection Program and Health Care Enhancement Act In response to the spread of the 2019 novel coronavirus (COVID-19), President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (PPPHCEA) into law on April 24, 2020. The PPPHCEA is phase 3.5 in Congress’ response to the COVID-19 pandemic...

4 Tips for a Volatile Market

The COVID-19 National Emergency has impacted nearly every part of our daily lives and the investment market is no exception. When account balances fluctuate, it is tempting to make quick investment decisions. Before you do, consider a few investing tips to guide your investments through volatile markets. Remain Calm Many...

Relaxed Life, Disability and Long-Term Care Insurance Underwriting

As a result of the COVID-19 National Emergency, insurance companies have adapted to help individuals easily secure protection and obtain insurance without a medical exam that requires a nurse to visit your home or office. This is a TEMPORARY change that will likely end when social distancing can stop. How...

Innovative Welcomes Lauren Urbanski as Executive Account Manager

Innovative Welcomes Lauren Urbanski as Executive Account Manager We are excited to announce our newest member of the Innovative team, Lauren Urbanski! Lauren joins Innovative as an employee benefits Executive Account Manager.  In this role, Lauren is responsible for strengthening and maintaining Innovative Benefit Planning’s relationships with its current clients...

March Compliance Recap

March was a busy month in the employee benefits world. The President signed the Families First Coronavirus Response Act (FFCRA) into law. The Department of Labor (DOL) issued a bulletin regarding enforcement of the FFCRA. The President also signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into...

Gov. Murphy Signs Executive Order Granting Grace Periods for Insurance Premium Payments

Gov. Murphy Signs Executive Order Granting Grace Periods for Insurance Premium Payments On April 9, 2020, New Jersey Governor Phil Murphy signed Executive Order No. 123, extending grace periods during which certain insurance companies, including health and dental insurers, life insurers, and property and casualty insurers, will not be able to...

Stress Management Tips

Stress Management Tips Maintaining your mental and emotional health is essential, and it’s more important than ever to take care of yourself and embrace activities that will help bring you a sense of calm and well-being. Here are some practical tips which will help: Sleep. Make sure you are getting...

COVID-19 Employer Considerations Regarding Employment Decisions and Plan Coverage Changes

Due to the recent national health crisis in our country, many employers are considering the best way to handle a temporary economic turndown to best position themselves for recovery once the pandemic ceases and businesses can begin to return to some sense of normalcy. In addition, many employers are also...

CARES Act: Loans & Tax Credit Provisions

CARES Act: Loans & Tax Credit Provisions On March 27, 2020, Congress passed, and the President signed, an unprecedented 2 trillion-dollar stimulus and relief package into law, named the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. This act provides direct stimulus relief to corporations and individuals....

CARES Act: Impact on your Retirement Plans

CARES Act: Impact on your Retirement Plans The CARES Act is the stimulus package the government recently enacted to support the country and economy during and after the coronavirus pandemic. The 880-page Act has many programs and features that affect a wide range of the economy. The points below are...

CARES Act: Impact on Employee Benefits

CARES Act: Impact on Employee Benefits On March 27, 2020, Congress passed, and the President signed, an unprecedented 2 trillion-dollar stimulus and relief package into law, named the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. This act provides direct stimulus relief to corporations and individuals. While...

Telemedicine Wait Times

In light of the recent COVID-19 (coronavirus) outbreak. The CDC recommends leveraging telemedicine for your unique medical needs to help limit the spread of the virus by eliminating the risk of exposure to the ER, urgent care, and primary care offices. They are recommending members schedule their virtual visits rather...

Student Loan Relief Due to COVID-19

Overview On March 13, 2020, the U.S. Department of Education announced that it would waive interest charges, allow for suspended payments and provide assistance to borrowers of defaulted loans for 6 months. All information can be found at StudentAid.gov. Who Is Affected? All borrowers who have an outstanding federal student...

CARES Act Provisions

On March 27, 2020, Congress passed, and the President signed, an unprecedented 2 trillion dollar stimulus and relief package into law. The law’s nearly 900 pages provide relief for specific industries, including hospitals, airlines, and railroads, as well as cash payments to individuals of up to $1,200 per adult and...

DOL Issues Families First Coronavirus Response Act Model Notice

DOL Issues Families First Coronavirus Response Act Model Notice As required by the Families First Coronavirus Response Act, the Department of Labor has issued a model notice to be posted by employers. The notice is attached here, and should be posted or distributed to employees in its entirety. To assist...

Families First Coronavirus Response Act

On March 18, 2020, the President signed into law the Families First Coronavirus Response Act. While largely the same as the House bill passed on March 13, the final version of the legislation differs in several material respects from the original legislation, including permitting exemptions for employers with fewer than...

COVID-19: Leave Donation Program

Leave donation programs have been considered and implemented by employers for years to allow employees to donate accrued paid time (PTO), vacation or sick leave to a general pool. The time available in this pool serves to be used by fellow employees who have medical emergencies or who are affected...

COVID-19: Carrier Enhancements

COVID-19: Carrier Enhancements March 17th, 2020 Due to the outbreak of COVID-19 in the United States, the CEO’s of major US health insurance companies met at the White House on March 10, 2020 and agreed to waive costs for certain services such as the COVID-19 test, telemedicine services and prescription...

Families First Coronavirus Response Act

Families First Coronavirus Response Act On March 18, 2020, the President signed into law the Families First Coronavirus Response Act. While largely the same as the House bill passed on March 13, the final version of the legislation differs in several material respects from the original legislation, including permitting exemptions...

COVID-19: Tips and Prevention

COVID-19: Tips and Prevention Employees may have questions about what they can do to help manage the situation, and as an employer, you want to be proactive in communicating how to prevent the spread of the virus in the workplace. Innovative has created an easy to download infographic that can...

COVID-19: 7 Important Employer Considerations

COVID-19: 7 Important Employer Considerations As employers prepare for COVID-19 accommodations, Innovative has developed a checklist that offers specific considerations for employers in planning for emergencies like COVD-19. Examples include policies to review, communication strategies to consider and benefits that may be impacted. The Innovative team is here to support...

ACA Filings for Employers with NJ Resident Employees Due 3/31

ACA Filings for Employers with NJ Resident Employees Due 3/31 March 16th, 2020 As you may be aware, as of January 1, 2019 the State of New Jersey enacted a mandate requiring New Jersey residents to maintain Minimum Essential Health Coverage, mirroring the requirements of the federal Affordable Care Act. As...

COVID-19 Communicating With Employees

COVID-19 Communicating with Employees March 12th, 2020 As part of their efforts to prevent the spread of COVID-19 in the workplace, employers should implement an employee communication plan about the illness to employees. The CDC, WHO and OSHA have all created informational material on the virus and its symptoms, prevention...

Coronavirus And The Workplace

Coronavirus And The Workplace  March 12th, 2020 Dealing with Epidemics and Communicable or Infectious Diseases As the number of reported cases of the novel Coronavirus (COVID-19) continues to rise, employers are increasingly confronted with the possibility of an outbreak in the workplace. Employers are obligated to maintain a safe and...

February 2020 Compliance Recap

February was a busy month in the employee benefits world. The Centers for Medicare and Medicaid Services (CMS) released an updated Premium Assistance Under Medicaid and the Children’s Health Insurance Program (CHIP) model notice. CMS also issued frequently asked questions (FAQs) regarding its recently issued summary of benefits and coverage...

Terriann Procida Invited to Join Philadelphia Business Journal Leadership Trust

Terriann Procida, CEO, has been invited to join Philadelphia Business Journal Leadership Trust, ​an exclusive community for influential business leaders, executives and entrepreneurs in Greater Philadelphia. Terriann was chosen for membership by the Philadelphia Business Journal Leadership Trust Selection Committee due to her experience, leadership and influence in the local...

Proposed Mandatory Anti-Harassment Policy Development and Training Delivery in the State of New Jersey

Proposed Mandatory Anti-Harassment Policy Development and Training Delivery in the State of New Jersey March 4th 2020 On February 18, 2020 New Jersey Governor Phil Murphy presented a new bill to the State Legislature that would require all public and private employers in the state to develop anti-harassment policies and...

Eat Right, Bite By Bite

Eat Right, Bite By Bite March 3rd, 2020 The key to achieving optimal health cannot be found in any one food, drink or pill, but rather through your personal commitment to healthy lifestyle behaviors.  Focusing on maintaining and enjoying good nutrition and daily physical activity is the key to success....

Ways Employers Can Deal With Employee Student Loan Debt

Ways Employers Can Deal With Employee Student Loan Debt February 25th, 2020 Student debt has increased dramatically in recent years, creating a financial burden on employees’ ability to save for retirement. Many employers have begun implementing programs to help employees manage student loan debt. Millennials (and their families) are often...

4 Concepts to Construct Company Culture

4 Concepts to Construct Company Culture February 25th, 2020 When we think of employee retention, it often seems like we think of the same few strategies: employee benefits, PTO, food, etc. However, the company culture surrounding a team seems to matter just as much.  Your employees spend a considerable amount...

January 2020 Compliance Recap

January was a busy month in the employee benefits world. The U.S. Supreme Court (Supreme Court) denied expedited review of a court case challenging the constitutionality of the Patient Protection and Affordable Care Act (ACA). The Supreme Court also granted review of a nationwide preliminary injunction of the November 2018...

Heart Health Month: Show Yourself Some Love

February is heart health month and it’s a great time to raise awareness and learn what you can do to reduce your risk of heart disease. Because many cases of heart disease are controllable, you can take charge of your health by actively working to improve it by making some...

DOL Increases ERISA Penalties for 2020

January 29th, 2020 On January 15, 2020, consistent with its policy of annual adjustment, the DOL published its final rule adjusting ERISA’s civil monetary penalties for 2020. ERISA protects the interests of employee benefit plan participants and their beneficiaries.  The adjustments are non-discretionary (and therefore not subject to a notice...

How Managers Can Influence Workplace Well-Being

How Managers Can Influence Workplace Well-Being January 16th, 2020 When you think about your best manager, what are the first few things that come to mind?  Hopefully, you think about someone who is bold, communicates well, gives employees space to do great work and positions them to take care of themselves. When it comes to well-being, managers...

New Year, New You

Bring on the best you, this year! Wondering how you can stick to your goals this year?  The key to making a healthy change is to set yourself up for success.  Your changes this year may look like weight loss, stronger connections in your life, sleeping more, disconnecting from your...

December Compliance Recap

December was a busy month in the employee benefits world. The U.S. Court of Appeals for the Fifth Circuit held that the Patient Protection and Affordable Care Act’s (ACA’s) individual mandate is unconstitutional. The Internal Revenue Service (IRS) released final instructions and final 1094-B, 1095-B, 1094-C, and 1095-C forms for...

The NJ Commuter Benefit Law Coming March 2020

The NJ Commuter Benefit Law Coming March 2020 January 10th, 2020 The new year comes with many changes for employers, but it doesn’t just stop after January.  With the world constantly changing around us, so are the laws that we must follow.  As of March 1st, the New Jersey Commuter...

The 2020 Leap Year Impacting Payroll

The 2020 Leap Year Impacting Payroll January 9th, 2020 As always, the new year comes with a great deal of changes.  With 2020 being a leap year, some of these changes may even be overlooked.  A leap year typically occurs every four years, adding one extra day to the month...

Four Laws That Went into Effect 1/1/2020

There were several notable laws that effect employers beginning 1/1/2020. It is important for employers to understand how these laws effect your employees and business and any necessary next steps you need to take. As always, your Innovative team will help you understand how these changes will affect your plans...

4 New Year’s Resolutions for an HR Department to Consider

The start of January brings with it the start of a brand-new year, with endless opportunities to be and do better than years past. Often, we consider what goals we would like to set for ourselves personally rather than professionally. Why not set goals for both? Here are a few...

The ACA’s Cadillac, HIT and Medical Device Taxes Are Repealed; PCORI Fee Extended for 10 More Years

On December 20, 2019, the President signed a $1.4 trillion spending bill that will fund the federal government through September 30, 2020. The bill signed by the President specifically includes the repeal of three major taxes that fund the Affordable Care Act (ACA), including the “Cadillac” tax, the health insurance...

Myth Series #12: I can’t offer a student loan program in my retirement plan.

With student loan debt reaching astronomical numbers, employers are increasingly looking for ways to add student loan assistance programs to their benefits packages. While current student loan repayment programs can relieve financial stress, they do not offer tax benefits to employees. However, a recent IRS Private Letter Ruling allowing a...

Broker vs. Fiduciary: The differences you must know

For plan sponsors, running a 401(k) plan can be complex and time-consuming. Some plan sponsors hire outside advisors to help the plan stay compliant with IRS and ERISA laws. It is crucial to understand the difference between hiring a broker versus hiring a fiduciary. Each has a unique set of...

Adding Wellbeing to Round out your Employee Value Proposition 

When it comes to what companies are prioritizing, engagement and wellbeing are now at the top of the list.   Many organizations struggle with how to focus on what piece and how much to invest. One thing the research is clear on is that when you combine engagement with wellbeing, you...

Healthy for the Holidays

The holiday season brings family, friends, festivities and lots of food! The temptations are everywhere and with all the extra activities, your daily routine gets disrupted. How can you stay on track when splurging is so apparent? We can help! Here are a few tips to help keep you healthy...

November Compliance Recap

November was a busy month in the employee benefits world. The Internal Revenue Service (IRS) released draft 2019 instructions for Forms 1094-B, 1095-B, 1094-C, and 1095-C. The IRS also released health plan limits and various compensation, benefit, and contribution levels under qualified retirement plans for 2020. The Department of Health...

IRS Extends ACA Reporting Deadline for Furnishing Statements for 2019 from January 31 to March 2, 2020

In Notice 2019-63, the IRS extended the 2020 deadline for employers and insurers to furnish individual statements on 2019 health coverage and full-time employee status (Forms 1095-B and 1095-C) from January 31 to March 2. The notice also extends the good-faith penalty relief to 2019 for incorrect or incomplete reports due in 2020....

Innovative’s CEO, Terriann Procida, is Awarded “2019 Executive of the Year”

Innovative Benefit Planning is pleased to announce that Terriann Procida has been awarded by South Jersey Biz as one of their 2019 Executive of the Year Award winners! The award recognizes and awards 20 South Jersey professionals who have “paved the way for success.” “As you read through our 2019...

Required Minimum Distributions

As the calendar year draws to a close, older plan participants may have to consider taking a required minimum distribution (RMD) from their qualified retirement plan. A required minimum distribution is a withdrawal from a qualified retirement plan for participants who have reached the age of 70½. While many qualified...

Innovative Welcomes Nurse Advocate, Erica Polaneczky, MSN, APRN, ANP-C

We are excited to announce the latest member of the Innovative Benefits team! Please join us in welcoming Erica Polaneczky, MSN, APRN, ANP-C, as our Nurse Advocate.  As part of our Workplace Wellness team, Erica will help Innovative build, plan, coordinate, and deliver health promotion activities tailored specifically for each...

Avoiding and Correcting Common Mistakes on the I-9

Let’s talk about I-9s. You probably filled them out for each employee, filed them away and never thought about them again, right? This can be problematic as there are several common mistakes made on the I-9 form. An audit can be a very costly experience if your forms aren’t all...

Innovative Welcomes New Director of Wellness & Engagement

We are pleased to announce another new member has joined the Innovative team! Please help us welcome Patricia Pellicore, CWP, as Director of Wellness and Engagement.  As Director of Wellness and Engagement Patricia will manage, develop, grow, and promote the numerous positive features of Innovative’s wellness initiatives. One of her...

Innovative Myth Series #11-As a plan sponsor, I shouldn’t consider adding a 3(16) service to my plan.

An existing client had experienced problems with their 401(k) plan audit for several consecutive years due to internal operational issues. The client requested our help in determining whether they should spend the money for a 3(16) service to help improve efficiencies and eliminate some of the operational errors they were experiencing....

Innovative’s Well-being @ Work 2019 Summit Recap

As employers, what do we need to create workplaces that are connected, flourishing and well with both business and employee in mind? This year Innovative Benefits Planning hosted our inaugural well-being summit that was dedicated to making workplaces healthier.  The room was packed full of HR professionals, C-Suite decision-makers, health...

Innovative Welcomes Lisa as Director of Compliance

We are excited to announce the latest addition to the Innovative Benefit Planning team! Please join us in welcoming Lisa A. Hill as our Director of Compliance.  As Director of Compliance, Lisa will be a valuable resource to Innovative’s leadership team, employees, and clients in ensuring all compliance needs are...

Diabetes Awareness Month

November is National Diabetes Awareness month! According to the American Diabetes Association, nearly half of all American adults have diabetes or prediabetes, yet most do not fully understand the illness. Unaddressed diabetes can take a heavy toll medically, financially, and personally. Diabetes also increases the risk of developing other chronic...

Innovative Benefit Planning Earns Specialized Advisor Recognition

Our firm was founded on the principles of integrity, professionalism and exceptional client service. We are also deeply committed to continuous improvement. Our dedication to doing what is best for you, our clients, prompted us to engage CEFEX, the Centre for Fiduciary Excellence, LLC to audit our processes. In June...

2020 IRS Contribution Limits Released

On Wednesday, the IRS announced new contribution limits for medical FSA, Commuter Benefit, and HSA plans for 2020.  The FSA contribution will increase to $2,750, a $50 increase from current limits. The HSA contribution limit for individuals with a high deductible health plan (HDHP) will likewise be raised from $3,500...

October Compliance Recap

Compliance Recap-October 2019 October was a relatively quiet month in the employee benefits world. The U.S. District Court for the Northern District of Texas vacated portions of the current rule implementing Section 1557 that prohibit discrimination on the basis of gender identity and pregnancy termination. The U.S. Court of Appeals...

Innovative Myth Series #10: When Transferring Service Providers, There are no Pitfalls, Part 2 – Market Value Adjustments and Fixed Accounts

A new client engaged Innovative after they decided to transfer their current plan to a new service provider. After our initial investment review, we noticed there was an existing Stable Value Fund, which was subject to a market value adjustment (MVA). When an MVA is being applied, a complete fund...

Should you Consider a Safe Harbor Contribution Feature?

Does your organization’s retirement plan frequently refund money to highly compensated employees (HCE)? Do you want to provide a great incentive to your employees to save for retirement and perhaps allow them to retire earlier? Would the owners and highly compensated employees like to save more of their own money?...

Diversity Discussion: Terms to Know

The concept of diversity is often presented to employees only in the negative – employees are told not to discriminate, or not to harass. But diversity is much more than that – when embraced and fostered, it promotes creative, engaged, happy workplaces. Beginning the diversity discussion with your workforce can...

Ryan Kastner Receives Young Professionals Leadership Award

Congratulations to our Vice President, Consulting, Ryan Kastner, for being named to Burlington County Regional Chamber of Commerce’s (“BCRCC”) Young Professionals Leadership Class of 2019. The award honors professionals under the age of 40 who demonstrate outstanding leadership in the Burlington County Business Community. Winners are selected based on their...

Oral Health Awareness Month

Did you know that your oral health offers clues about your overall health — or that problems in your mouth can affect the rest of your body? Protect yourself by learning more about the connection between your oral health and overall health. What’s the connection between oral health and overall...

September 2019 Compliance Recap

September was a busy month in the employee benefits world. The U.S. Senate confirmed Eugene Scalia as the new Secretary of the Department of Labor (DOL). The Internal Revenue Service (IRS) published proposed rules regarding affordability safe harbors and Section 105(h) nondiscrimination rules as applied to individual coverage health reimbursement...

DOL Overtime Rule Change

On Sept 24th, the US Department of Labor (DOL) released a new rule, increasing the minimum salary level for exempt status to $35,568 per year for a full-time employee, effective January 1, 2020.     Read the full law, here: DOL Overtime Rule Change     The proposed rule creates the...

9 Employee Handbook Essentials

There are so many things that are essential to the employee handbook that it can be tough to know where to even start. We’ve got you covered. Below are 9 key components that every good employee handbook should include. 1. Introductory Statement This statement introduces the handbook, describes the purpose...

5 Reasons To Hire the Right Financial Advisor For Your Retirement Plan

As an organization offering a retirement plan to their employees, plan sponsors are faced with decisions that can affect the entire organization.  The plan design, investment line-up, and who the recordkeeper will be are typical for all plans. Beyond these standard decisions, there is the issue of knowing and understanding...

30 Years and 30 Reasons to Choose Innovative

When it comes to benefits planning, there are a ton of choices out there. And, we believe we’re the most innovative company you’ll find. After 30 years, here are 30 good reasons our clients choose to work with us: We put people first We are an advocate for our clients...

Innovative Myth Series #9: When Transferring Service Providers, There Are No Pitfalls. Part 1-Protected Benefits

A new client engaged Innovative to transfer their current plan to a new service provider. During the course of our detailed review, we discovered that certain employees had annuity contracts with death benefits that exceeded the value of their plan investments. If the client executed the transfer, these participants would...

Flu Season: Myths vs. Facts

Flu season is quickly approaching. The Centers for Disease Control and Prevention (CDC) recommends that those aged 6 months and older receive the flu vaccine by the end of October. Getting a flu vaccine is the first and most important step in protecting against the flu. There are many misconceptions...

August 2019 Compliance Recap

August was a relatively quiet month in the employee benefits world. The Department of Labor (DOL) issued its updated Medicaid / CHIP Model Notice. The Centers for Medicare and Medicaid Services (CMS) revised its Medicare Secondary Payer User Guide and changed reporting requirements regarding prescription drug coverage beginning January 1,...

Innovative Celebrates 30 Year Anniversary

Before 2019 came to an end, Innovative Benefit Planning had to officially celebrate our 30 Year anniversary, and we certainly didn’t get here alone. On July 24th, our employees, partners and clients, came together to enjoy food trucks, music, and memories from over the years. The afternoon was filled with...

Innovative Benefit Planning Named “Best of Biz 2019”

Innovative Benefit Planning has been named by South Jersey Biz, as one of their 2019 Best of Biz recipients. The Best of Biz award recognizes 102 of region’s most esteemed service providers and we are proud to say that Innovative has been selected for their “Employee Benefits” category. According to...

Do’s and Don’ts When Creating an Employee Handbook

The employee handbook is an important communication resource for your employees that also limits your company’s legal liability. It can be tough to decide what does and does not belong in the employee handbook, but these tips can help you along the way.   Read the full article, here.

Vice President, Consulting, Dan Foley, Named to Rand Institute Advisory Board at Rutgers University–Camden

The Senator Walter Rand Institute for Public Affairs at Rutgers University–Camden, an institute for public policy issues impacting southern New Jersey, announced last week that Innovative’s Vice President, Consulting, Dan Foley, has been appointed to their advisory board. Dan is joined by two other regional leaders, Amy Obsorn, vice president...

Innovative Myth Series #8: Once I Sell a Company, I Don’t Have To Worry About It Impacting My Current Retirement Plan

See how Innovative helped our client from running afoul of the Affiliated Service group rules and saved the client from potential serious regulation issues. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.

Mind Your Health-Mental Health & Exercise

You have probably heard of the variety of benefits from weekly exercise…. But did you know that exercise can do wonders for both physical AND mental health? People who exercise regularly gain a sense of well-being, feel more energetic throughout the day, have a better quality of sleep, and have...

NJ Bans Salary History

On July 25th, 2019, New Jersey’s Acting Governor Sheila Oliver signed NJ Bill A1094 (“the Law”), which bans employers from asking applicants for their salary history. Read the full law here, NJ Bans Salary History, to learn: What is now illegal for an employer to do What the law allows...

July 2019 Compliance Recap

July was a busy month in the employee benefits world. The Internal Revenue Service (IRS) released a notice that expands the list of preventive care benefits a high deductible health plan can provide without a deductible or with a deductible below the annual minimum deductible. The IRS also released the...

Additional Preventive Care Benefits Permitted for High Deductible Plans

In Executive Order 13877, issued June 2019, the Treasury Department and the IRS were directed to consider ways to expand the use and flexibility of HSA’s and HDHP’s. In response to the Executive Order, the Treasury Department issued guidance on July 17, 2019, that lists newly identified preventive care items...

Cybersecurity: The Need for Both IT and HR

Businesses face a multitude of risks throughout their daily operations. One of the most complicated risks that organizations confront is cybersecurity risk. Cybersecurity is defined as the protection of internet-connected systems, including hardware, software and cyberattacks. When businesses hold sensitive data on the cloud or shared servers, you must address...

Pennsylvania Medical Marijuana Updates

Effective July 20, 2019, Pennsylvania will recognize anxiety and Tourette Syndrome as serious medical conditions in the medical marijuana program.   The Pennsylvania Department of Health stated that the decision came after a research-based recommendation by the state’s Medical Marijuana Advisory Board, followed by Health Secretary Rachel Levine ’s careful review of the...

Innovative Myth Series #7: The Only Benefit To A Retirement Plan is Retirement Savings

  See how Innovative helped this client add a pension plan to their existing 401(k) and profit-sharing plan offerings to tackle their recruiting and retention challenge. Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.  

HRA Final Rules

The Department of the Treasury (Treasury), Department of Labor (DOL), and Department of Health and Human Services (HHS) (collectively, the Departments) recently released their final rules regarding health reimbursement arrangements (HRAs) and other account-based group health plans. An HRA is a type of account-based group health plan funded solely by...

Four Tips for Managing Five Generations in One Workplace

As organizations become more age diverse, business leaders find themselves managing a multigenerational workforce. Five generations in the workplace can mean more opportunity for success or more challenges, depending on how an organization deals with the generational differences. Each generation has grown up in very specific times in history and...

EEOC Component 2 Data Update

On July 2, 2019, following initial notifications to employers of the upcoming Component 2 filing deadline, the EEOC updated the Component 2 website to include both Additional Information https://eeoccomp2.norc.org/info.html and Frequently Asked Questions (FAQs) sections. https://eeoccomp2.norc.org/faq.html Under the Additional Information section, employers can find a sample form, an instruction booklet,...

Do you Practice Sun Safety?

Summer is here! That means spending more time with the family, more outdoor activities, and most importantly more exposure to the sun and its harsh UV rays. Increased exposure to UV radiation increases the risk of skin cancer. Due to climate change, the stratospheric ozone is thinning allowing less protection...

Reference-Based Pricing: Employers Are Starting to Take Control of Costs

You may have heard of Reference-Based Pricing as the healthcare strategy gains momentum to control healthcare costs. But what is it and how does it work? Click below to learn what Reference-Based Pricing is and the pros and cons to consider. Innovative’s unique Reference-Based Pricing 6 step process first makes...

President Trump Signs an Executive Order to Improve Price and Quality Transparency in Healthcare

President Trump signed an executive order directing federal agencies to increase healthcare price and quality transparency. The order specifically directs the Departments of Labor, Treasury and Health and Human Services to issue guidance and propose regulations that would disclose negotiated rates, cost-of-care and de-identified federal healthcare data, and to expand...

NJ Now Has Greater Protections for Employees Who Are Cannabis Users

On July 2, 2019, New Jersey Governor Phil Murphy signed a bill into effect that overhauls the state’s existing medical cannabis program and law, the Compassionate Use of Medical Marijuana Act (CUMMA), and greatly expands patient access to medical marijuana. For employers who must address the issue of employees and...

June 2019 Compliance Recap

June was a relatively busy month in the employee benefits world. The Department of Labor (DOL), the Department of Health and Human Services (HHS), and the Department of Treasury published final rules that removed the prohibition against integrating a health reimbursement arrangement (HRA) with individual health insurance coverage and recognized certain...

Innovative Myth Series #6: Funding a Profit Sharing Plan for a Company with More Than 100 Employees Will Only Benefit My Employees

See how Innovative helped one client generate significant tax savings for their company. Download full case studyhere. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.                               Download full case...

HHS Proposes to Revise ACA Section 1557 Rule

On May 24, 2019, the Department of Health and Human Services’ Office for Civil Rights (OCR) released a proposed rule to revise its regulations under the Patient Protection and Affordable Care Act’s Section 1557. OCR also released a fact sheet and press release. The proposed rule would eliminate: Certain definitions,...

Andrew Gloninger Joins as Benefits Guardian

It gives us great pleasure in introducing our newest member, Andrew Gloninger, to the Innovative team! Andrew joins Innovative’s employee benefits department as a Benefits Guardian. This position is a key member of the client services team and will serve as a direct point of contact for our client’s employees....

Kyra Foster Joins as HR and Recruiting Coordinator

We are excited to welcome our newest member of the Innovative team. Please join us in welcoming Kyra Foster as HR and Recruiting Coordinator. In this position, Kyra is responsible for assisting with all internal and external HR related inquiries or requests, as well as providing support to the VP...

The Importance of a Roth Option in Retirement Plans

Roth contributions can provide significant benefits to retirement plans for both participants and plan sponsors alike. But what does Roth mean? Unlike pre-tax, Roth refers to post-tax dollars, meaning the money has already been taxed when it goes into a participant’s account. They are beneficial to participants because qualified Roth...

Self-Care for Caregivers

National Women’s Health Week was May 12-18 this year. Earlier this month, we focused on preventative health, by age, for women. But a large percentage of women fall into a different type of health risk category–being a caregiver for a friend or family member. Besides physical health, caregivers also need...

National Women’s Health Week

The 20th annual National Women’s Health Week kicked off this past Sunday on Mother’s Day, May 12, and is celebrated through May 18. Each year, this week serves as a reminder for women to make their health a priority and build positive health habits for life. What steps can you...

Migraine and Headache Awareness Month-How to Cope in the Workplace

Almost 40 million Americans live with migraine and headache disorders. Unfortunately, headaches are considered invisible diseases, due to its ability to cause people who live with it to feel isolated and alone. There is a lack of understanding from employers, the public and people with migraine themselves about the impact...

May 2019 Compliance Recap

May was a busy month in the employee benefits world. The Internal Revenue Service (IRS) released health savings account annual contribution limits and high deductible health plan minimum annual deductibles and annual out-of-pocket maximums for 2020. The Department of Labor (DOL) released questions and answers (Q&As) to clarify its enforcement...

June is Men’s Health Month

Men’s Health Month is celebrated across the country during the month of June with screenings, health fairs, media appearances, and other health education and outreach activities. The purpose of Men’s Health Month is to heighten the awareness of preventable health problems and encourage early detection and treatment of disease among...

Innovative Myth Series #5: Plans With No Financial Consultant Receive The Best Fees And Fiduciary Protection From Their Qualified Plan Provider

See how Innovative’s experience with reviewing “Retirement Plan Relationships” helped one client in negotiating lower administrative fees, increased services for the plan sponsor and streamlined administrative functions. Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.

HR Person of the Year Awards Dinner

Last week, Innovative attended the 19th Annual Delaware Valley HR Person of the Year Awards Dinner as a proud Silver Sponsor. Our very own Ryan Kastner was nominated as HR Consultant of the Year! A lovely time was had by all. It was truly a successful event, raising $9,290 to benefit...

EEOC Pay Data Collection

The Equal Employment Opportunity Commission (“EEOC”) announced that it will collect information from applicable employers on employee pay and hours-worked—known as Component 2 data—for 2017 and 2018 as part of the annual EEO-1 report and the data is due by September 30, 2019. The Department of Justice filed a Notice...

Compliance Alert: IRS Raises HSA/HDHP Limits for 2020

Compliance Alert: IRS Raises HSA/HDHP limits for 2020 The IRS has announced that effective January 1, 2020, an individual in a High Deductible Health Plan (“HDHP”) with self-only coverage has a new maximum allowable annual contribution into a Health Savings Account of $3,550 , increased from $3,500.  The maximum annual...

Colette Crosby Joins as Account Manager

As Innovative continues to grow, we are excited to announce another new member to the Innovative team. Please join us in welcoming Colette Crosby as Account Manager. Colette will be reporting to the Account Executives Elizabeth Ferroni and Shemelia McClain. As Account Manager, Colette will be responsible for supporting the...

Benefits to Offering a 401(k) plan

According to the recent Jobvite’s Recruiter Nation Survey, after Healthcare, 401(k)s are considered the most valuable benefit to recruit and retain employees. Providing retirement benefits to your employees, such as 401(k) plans, is an important step in recruiting, retaining and promoting employee wellness.   Recruitment and retention: Recent trends demonstrate...

Are Target Date Funds Right for Your Participants?

In recent years, plan sponsors have increased the inclusion of Target Date Retirement funds in their investment fund lineup. In fact, J.P. Morgan estimates that 88% of new retirement plan contributions are expected to flow into Target Date Funds by end of this year1.  Here are some of the reasons...

April 2019 Compliance Recap

April was a busy month in the employee benefits world. The Centers for Medicare & Medicare Services (CMS) issued its parameters for the defined standard Medicare Part D prescription drug benefit for 2020. In the court case challenging the Patient Protection and Affordable Care Act’s constitutionality, the court will hear...

Andrew May Earns Accredited Investment Fiduciary Designation

Innovative is proud to announce that Andrew May has been awarded the Accredited Investment Fiduciary designation from the Center for Fiduciary Studies, the standards-setting body for fi360. Andrew is a Financial Services Associate working in the retirement services department. He is responsible for servicing the firm’s qualified plan clients in...

A Nutrition Approach to Prostate Cancer Prevention

According to the American Cancer Society, one in six men will be diagnosed with prostate cancer in his lifetime. Prostate cancer is a disease in which some of the cells of the prostate gland grow and divide in an uncontrolled way. The resulting mass is called a malignant tumor, which...

New NJ Commuter Law

Governor Murphy signed a new law on March 1, 2019, read here: Commuter Law, requiring certain employers to provide pre-tax commuter fringe benefits to employees.  New Jersey employers with at least 20 employees in the state will need to begin offering those employees pre-tax transportation fringe benefits covering commuter highway vehicle...

March 2019 Compliance Recap

March was a busy month in the employee benefits world. The Department of Justice (DOJ) announced that it will not defend the Patient Protection and Affordable Care Act (ACA) in the court case challenging the ACA’s constitutionality. The Internal Revenue Service (IRS) updated two Q&As regarding ACA reporting for 2018....

Innovative Welcomes Eileen Green as Chief Operating Officer

Innovative is proud to announce that industry executive leader, Eileen Green, has joined Innovative as Chief Operating Officer. Reporting directly to our CEO, Terriann Procida, this key new position will be integral to ensuring that Innovative has the proper operational controls, administrative and reporting procedures to provide operational excellence across...

Innovative Myth Series #4 Employer Profit-Sharing Deductions Must Be Recognized in the Year the Contribution is Made

See how Innovative’s strategic planning and Profit-Sharing experience helped our client maximize tax benefits and fund significant plan contributions for their key employees. Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.

Innovative is Awarded the “Community Impact Award”

Innovative Benefit Planning is honored to announce we are the recipient of the “Community Impact Award”. Issued by the South Jersey Biz, Innovative is featured as one of the inaugural winners in their April 2019 publication. The award honors successful companies in South Jersey that, in addition to their business...

Innovative Celebrates National Pet Day at Burlington County Animal Shelter

To celebrate our 30-year anniversary and pay thanks to our amazing community and countless partners, Innovative has pledged to give back in 30 ways this year. We are dedicated to making our community a key part of our business in 2019. From local charities and non-profits to those in need...

Allergy Prevention Tips

Did you know that you can sign up for allergy alerts? You will get email notifications of allergy counts in your area. On days that the pollen count is high, avoid leaving windows to your home and car open. Pollen counts are the highest between the hours of 5am-10am. If...

Spring Has Sprung! But So Has Allergy Season

Spring has sprung! But so has allergy season According to the Asthma and Allergy Foundation of America, allergies are classified as a chronic disease. So, what are allergies? An allergic reaction occurs when the body’s immune system treats an allergen such as pollen, as a harmful substance. The immune system...

Innovative Welcomes Brooke Haramija as Marketing Coordinator

Brooke Haramija joins the Innovative team as Marketing Coordinator, reporting directly to Jamie Bratton, Director of Marketing & Communications. Brooke will be responsible for helping to create and implement marketing strategies for all Innovative’s products and services, by developing and implementing marketing and advertising campaigns. In addition, she will help...

Innovative Myth Series #3: Mergers and Acquisitions are Simple

Innovative’s merger and divestiture of plans consulting expertise enabled us to provide complete end -to-end service. See how we helped our client ease their administrative burden and reduce client fees by over 40%. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here. 

Innovative Welcomes Andrew May as Financial Services Associate

We are excited to announce our newest member of the Innovative team, Andrew May. Andrew joins the firm as a Financial Services Associate.  In this role, Andrew will work with the Retirement Consulting Division and be responsible for servicing the firm’s qualified plan clients.  His duties will also include participant...

February 2019 Compliance Recap

February was a quiet month in the employee benefits world. The Internal Revenue Service (IRS) released an information letter addressing when an employer may seek recoupment of contributions made to an employee’s HSA. A U.S. District Court held that the State of Maryland could not ask for a declaration that...

Action-Based Wellness-How it Can Reduce Claims Cost 10-25%

See how Innovative helped one client save significant claims dollars over a three year period by implementing a “results-based” wellness program. During the three year period, Innovative was able to help our client: Obtain 96% of employees to participate in Biometric Screenings Implement a proactive outreach incentive program 60% of employees to improve or remain low...

Recent Updates in New Jersey Law

A lot has been happening in New Jersey since the new year began, and there have been a few critical updates for New Jersey employers and employees. New Jersey Minimum Wage On January 17, 2019, Governor Phil Murphy and legislative leaders agreed on legislation that will incrementally increase New Jersey’s...

Innovative Welcomes Rbhya Pal as Actuarial Analyst

It gives us great pleasure in introducing our newest member, Rbhya Pal, to the Innovative team! Rbhya joins Innovative’s employee benefits department as an Actuarial Analyst, reporting to our Director of Benefits Consulting, John Romaska. Rbhya will be responsible for preparing client claims reports and analysis, marketing various funding arrangements...

Ryan Kastner Nominated for HR Consultant of the Year

Congrats to our very own Ryan Kastner on his nomination for this year’s HR Consultant of the Year! The Delaware Valley HR Person of the Year Award was developed in 2001 to celebrate the Human Resources industry and to recognize those in the HR profession who exemplify outstanding achievement within...

National Nutrition Month

National Nutrition Month® is an annual campaign started by the Academy of Nutrition and Dietetics to raise awareness of the importance of making informed, healthful food choices to prevent and combat illness. Did you know that food is the most powerful medicine? Medicine comes with many positive and negative effects...

Innovative Attends NAHU Capitol Conference

February 24-27th, Vice President Consulting Ryan Kastner, Director of Marketing Jamie Bratton and Vice President of HR & General Counsel, Deirdre Groenen, Esq. attended the 2019 NAHU Capitol Conference in Washington, DC. During their time in Washington, the trio attended three days of informative sessions that detailed changing legislation that...

January 2019 Compliance Recap

January was a relatively quiet month in the employee benefits world. The Department of Labor (DOL) issued its annual adjustment of federal civil monetary penalties. The Centers for Medicare & Medicaid Services released a proposed rule for benefit payment and parameters for 2020. The Internal Revenue Service (IRS) released its...

Innovative Myth Series #2: All Highly Compensated Employees are Defined by Salary Alone

See how Innovative’s experience with qualified plans helped this client to be compliant with ADP testing. Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.    

Innovative Pledges 30 Givebacks for 30 Years

To celebrate our 30-year anniversary and pay thanks to our amazing community and countless partners, Innovative has pledged to give back in 30 ways this year. We are dedicated to making our community a key part of our business in 2019. From local charities and non-profits to those in need...

Gen Z is Coming. Is Your Workplace Ready?

While it may feel like businesses are still reeling from adapting to the working millennial, the next generation is already knocking on the HR door. The Society for Human Resource Management went straight to a 16-year old source to see what is on the workplace horizon. Here are a few trends...

Innovative Myth Series #1: I Can Rely on My Recordkeeper to Manage Terminated Employees

  See how Innovative’s experience with retirement plans helped this client find substantial savings by examining their 401(k) plan. Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.  

December Compliance Recap

December was a relatively quiet month in the employee benefits world. A U.S. District Court issued an order declaring that the Patient Protection and Affordable Care Act (ACA) is unconstitutional. The Equal Employment Opportunity Commission (EEOC) issued two final rules to remove certain wellness program incentives. The Department of Labor...

Workplace Wellness Tips to Fend off the Flu

It’s that time of year again, when we start to hear coughing, sniffling and sneezing around the office and everyone starts to panic because no one wants to get sick, especially with the flu! When is flu season? Flu season begins in October and ends as late as May, however...

10 FAQs Regarding The New Jersey Paid Sick Leave Act

1.) Earned sick leave may be used for: The treatment, care or diagnosis for employee or family member Employee or family member a victim of domestic or sexual violence (*has no 25 employees +  or 1,000 hours worked requirement like the NJ Safe Act). Workplace or school/daycare closed by a public...

Is Your Workplace Wellness Program Compliant?

In a recent settlement, the Department of Labor (DOL) imposed over $160,000 in fines and penalties on an employer for the noncompliant tobacco surcharge they imposed through their plan’s Wellness Program. A common Wellness Program design is to impose a premium surcharge to employees who use tobacco products. This surcharge...

New Year, Fresh Start

2019 is in full swing and it’s the time of year that we get to designate as a fresh start and new beginnings. It’s a tradition in which we resolve to change an undesired trait or behavior, to accomplish a personal goal or otherwise improve our health and life in...

Innovative Welcomes Shemelia McClain as Executive Account Manager

Innovative Benefit Planning is excited to welcome Shemelia McClain as our new employee benefit Executive Account Manager. Shemelia brings to Innovative more than 20 years of experience as an account manager and leader in the employee benefits industry.  In her new role as Executive Account Manager, Shemelia will be responsible...

The IRS Increases the PCORI Fee

The Internal Revenue Service announced that the Patient-Centered Outcomes Research Institute (PCORI) fee will rise to $2.45 (from $2.39) per covered life in plan years that fall between October 1, 2018, and September 30, 2019.  This increase will have an impact on 2019 plan year rates and is attributable to...

Tax Credit Check from Horizon

Attention Horizon customers! You may have received or will receive shortly, a check in the mail from Horizon regarding a tax credit refund check. Note, this is a legitimate check and you can use these funds however you see fit. Why are you receiving this check? In late 2017, the...

Retirement Match on Student Loan Debt- UPDATE

In October we reported on a Private Letter Ruling the IRS issued for an employer interested in offering a student loan repayment benefit through their 401(k) plan.  While the ruling only applied to the plan and plan sponsor who requested it, we suspected at the time that the ruling would...

November Compliance Recap

November was a busy month in the employee benefits world. The Internal Revenue Service (IRS) extended the due date for employers to furnish Forms 1095-C or 1095-B to individuals, extended “good faith compliance efforts” relief for 2018, and issued specifications for employer-provided substitute ACA forms. The Department of the Treasury...

Let’s Discuss Tax Relief from Your 199A Deduction

Earlier this week we discussed the Tax Cuts and Jobs Act of 2017 and the limits placed on the deductibility of State and Local taxes for 2018. Now let’s discuss your 199A deduction. For many owners of pass-through entities, _ the new 199A deduction will generate welcome tax relief in...

There May Be a Simple Solution to Decrease the 2018 Tax Burden Through a Customized Retirement Plan Design

The Tax Cuts and Jobs Act of 2017 have limited the deductibility of State and Local taxes for 2018.  As a result, many high earners may be subject to additional taxes this year.  However, there may be a simple solution to decrease the 2018 tax burden through a customized retirement...

Happier Holidays, the HR Way

Most people, according to a new survey featured in HR Dive, have the greatest sense of belonging in their own homes. That may not be surprising news, but what is interesting is that one-third of respondents felt the greatest sense of belonging in their workplace. A significant percentage, 40 percent, attribute...

ACA Extensions Announced

Yesterday afternoon, the IRS released Notice 2018-94, which announced an extension of the 2019 deadline for insurers and employers to furnish forms 1095-B and 1095-C to individuals. These forms, originally due January 31, 2019 are now due March 4, 2019. Although the furnishing deadline has been extended, the IRS has...

Innovative Welcomes Mercedes Gutierrez, MD as Director of Wellness and Population Health Services

We are excited to announce another new member to the Innovative team! Please join us in welcoming Mercedes Gutierrez, MD, as Director of Wellness and Population Health Services.  As Director of Wellness and Population Health Services, Mercedes will be responsible for managing, growing, and promoting the many positive aspects of...

Innovative Compliance- The New Jersey Equal Pay Act

As of July 1, 2018, the Diane B. Allen Equal Pay Act (“the Act”), which amends the New Jersey Law Against Discrimination (“LAD”), went into effect in New Jersey. The Act applies to all New Jersey public and private employers regardless of size, except federal employers. https://www.njleg.state.nj.us/2018/Bills/S0500/104_R2.PDF Pursuant to the...

New Tri-Agency Proposed Rule on Health Reimbursement Arrangements

The Department of the Treasury (Treasury), Department of Labor (DOL), and Department of Health and Human Services (HHS) (collectively, the Departments) released their proposed rule regarding health reimbursement arrangements (HRAs) and other account-based group health plans. The DOL also issued a news release and fact sheet on the proposed rule....

Important NJ Earned Sick Leave Update

In yesterday’s blog post, we discussed the New Jersey Earned Sick Leave Law, which went into effect this Monday, October 29th.  For more on the specifics of the law.  In addition to the employer obligations outlined in the previous post, all employers with employees working in New Jersey must post...

The Benefits of Seasonal Produce

You always hear about the importance of eating fruits and vegetables. Indeed, they are packed with vitamins, minerals, fiber, and other phytonutrients that are beneficial to our health! But did you know that eating seasonal produce is not only higher in nutrients, but also cheaper, better tasting, and more environmentally-friendly?!...

NJ Earned Sick Leave Law Goes into Effect

For New Jersey employers (or PA, NY or other employers who have employees who work in NJ), the NJ Earned Sick Leave Law went into effect Monday, October 29, 2018. Below is a link to a very comprehensive list of FAQs on the law, but here are some highlights: There...

Innovative Supports Oaks Integrated Care at the Moorestown Progressive Dinner

Friday, October 19th, Terriann Procida, Mark Sulpizio, Jamie Bratton, and Ryan Kastner represented Innovative at the Oak Integrated Care 14th Annual Moorestown Progressive Dinner. Each year, ten homes in Moorestown host a small group of guests for a delicious dinner prepared by a local chef. This year’s chefs came from...

Innovative Announces new VP of HR and General Counsel

Please join us in welcoming Deirdre Groenen, Esq. as VP of HR and General Counsel__. Reporting directly to our CEO, Terriann Procida, this new key member of the senior leadership team will provide guidance, conduct research, and serve as a resource for our employees and our clients.  This role is...

Innovative Shows Support of Samaritan Healthcare and Hospice at Memorial Paver Reveal

This Tuesday, Innovative Principal, Mark Sulpizio, attended an Open House at the Samaritan Center at Voorhees where Samaritan Healthcare and Hospice revealed the first of their memorial pavers. The memorial pavers are a beautiful way to memorialize loved ones and border the walkways of the gardens at Samaritan’s new Voorhees...

Innovative Welcomes Jamie Bratton as Director of Development & Communications

Jamie Bratton joins Innovative’s marketing department as Director of Development & Communications. Reporting to our CEO, Terriann Procida, this position is responsible for establishing and implementing strategic and tactical communication plans across every Innovative business unit, designed to capitalize on market opportunities, generate demand of Innovative’s services and help to...

Student Loan Considerations for Plan Sponsors-Part Two

As a follow up to our first article on student loan debt, its impact on employers and the recent IRS Private Letter Ruling (PLR) regarding student loan repayments, we’ve attached a summary of items to consider when contemplating this type of arrangement.  As this ruling has just been released, we...

Innovative’s Ryan Kastner Appointed Local United Way Campaign Cabinet Chair & Voted to Become County Board Member

Innovative Benefit Planning is pleased to announce that Vice President, Consulting, Ryan Kastner has been appointed as United Way of Greater Philadelphia and Southern New Jersey’s Campaign Cabinet chair for 2018-2019. As Campaign Cabinet Chair, Ryan’s role will assist in facilitating the United Way’s mission by working with CEOs and...

Innovative CEO, Terriann Procida, Receives Mid-Atlantic Women’s Leadership Award

Last night at the Downtown Club in Philadelphia, PA, Innovative Benefit Planning’s CEO, Terriann Procida, was one of 50 women to be recognized by CEO Report as one of their 2018 Mid-Atlantic Women’s Leadership Award winners. The Women’s Leadership Awards program honors CEOs and Executives who are moving their companies...

A Hard Habit to Break

Smoking is an addiction and as most smokers know, quitting isn’t easy. Quitting smoking is a journey, not a single event. You might hit some bumps in the road during your journey to quit smoking. Having a plan to meet these challenges is an important part of quitting for good....

Ryan Kastner Promoted to Vice President, Consulting

Innovative Benefit Planning is pleased to announce the promotion of Ryan Kastner to Vice President, Consulting. Ryan has been with Innovative for almost 6 years as Employee Benefits Consultant and like his prior role, Ryan will continue to consult with clients on their benefit and retirement plans and identify key...

Are Your Retirement Plan Committee Members Aware of Their Fiduciary Obligations?

Do your retirement plan committee members have a thorough understanding of their fiduciary obligations? In a recent court case involving the retirement plans offered at New York University, the court found that certain committee members were not fully aware of their obligations as Fiduciaries.  At Innovative Benefit Planning, we assist...

The Benefits of Positive Thinking

Many people do not know that positive thinking has a lot of health benefits. If you keep your mind in good shape, you’ll have an optimistic view of life and that affects your health and wellbeing in an extremely positive way. On the same note, thinking negatively can have an...

Dan Foley Promoted to Vice President, Consulting

Innovative Benefit Planning is proud to announce that Dan Foley has recently been promoted to Vice President, Consulting. Like his prior role as Employee Benefits Consultant, Dan will continue to consult with clients on their benefit and retirement plans and identify business development opportunities. As part of the leadership team,...

Wellness Team Earn Their Certified Corporate Wellness Specialist® Designation

Congrats to our Worksite Wellness Coordinator, Erica Brown and our Project Manager, Kim Fisher on earning their Certified Corporate Wellness Specialist® designation.  The Certified Corporate Wellness Specialist® is the foremost designation available in the corporate wellness and well-being field. The CCWS course comprises of concise and comprehensive techniques in how...

Terriann Procida is Awarded “2018 Women’s Leadership Award”

Innovative Benefit Planning is pleased to announce that Terriann Procida has been awarded by CEO Report as one of their 2018 Mid-Atlantic Women’s Leadership Award winners! The award recognizes and awards CEOs who are growing and “moving their companies forward.” “This year’s Mid-Atlantic Women’s Leadership Awards winners have made outstanding...

Vincent Madle, Innovative Summer Intern, Officially Joins Innovative Team

Please join us on congratulating our summer intern, Vincent Madle, as he finished his last day as intern on August 28th! Vincent is entering his last year at Temple University in their Risk Management & Insurance Program. During his time here, he has been an immense resource to our team,...

Innovative’s Executive Account Manager, Elizabeth Ferroni, attends Annual Employee Benefits Symposium

Our Executive Account Manager, Elizabeth Ferroni, just came back today from attending the Annual ISCEBS Employee Benefits Symposium in Boston, MA. Now in its 37th year, the symposium brings together thousands of benefit professionals to learn, discuss and hear from industry experts and leaders. Elizabeth is excited to be back...

NJ Consumer Protection Act goes into effect on August 29, 2018

On August 29th, 2018, the “Out-of-network Consumer Protection, Transparency, Cost Containment and Accountability Act” will go into effect.  All fully-insured health plans must follow the New Jersey state mandate, while self-funded health plans can decide to opt-in.  Innovative Benefit Planning has prepared a brief on what employers should know about...

June Compliance Recap

June was a relatively quiet month in the employee benefits world. The U.S. Department of Labor issued final regulations regarding association health plans. The U.S. Department of Justice filed a response in ongoing litigation regarding the constitutionality of the Patient Protection and Affordable Care Act. The Centers for Medicare and...

Elizabeth Ferroni Promoted to Executive Account Manager

Innovative is proud to announce that Elizabeth Ferroni has been promoted from Account Manager to Executive Account Manager. Elizabeth has been an invaluable resource to the Innovative team and to our clients and is well deserving of this new title. As an Executive Account Manager, Elizabeth will maintain the ability...

Trump Administration Suspends Billions in Risk Adjustment Payments to Insurers

Background The implementation of the Affordable Care Act brought uncertainty to many insurers.  To guard against adverse selection, and the threat of insurer insolvencies, the federal government enacted safety measures to stabilize the individual markets.  The “3 R’s of Health Insurance” sought to balance the risk pool by eliminating uncertainty...

Innovative Welcomes Vincent Madle

We are excited to welcome our summer intern, Vincent Madle, to the Innovative team! Vincent is a rising senior at the Temple Fox School of Business and is currently pursuing a BBA in Risk Management & Insurance with a concentration in Employee Benefits. Throughout the summer, Vincent will be assisting...

Innovative Welcomes Patrick Scher

Please join us in welcoming Innovative’s new Benefits Consultant, Patrick Scher. Patrick graduated from Penn State University in 2017 with a B.S. in Corporate Innovation and Entrepreneurship. While in school, Patrick was a summer intern with Arthur J. Gallagher & Co. in Radnor, PA. Prior to joining the Innovative team,...

Innovative Speaks at Leading Age NJ Annual Meeting & Expo

Last Wednesday, the Innovative team had the pleasure exhibiting and presenting at the Leading Age New Jersey Annual Meeting & Expo at Harrah’s Casino in Atlantic City, NJ. Innovative representatives, Dan Foley and Ryan Kastner, presented  **Bucking the Trend: _Health Plan Cost Containment Strategies_**  to an audience of aging services providers....

Innovative Wellness Client’s Huge Loss is a Big Win

Congratulations to the Penndel Mental Health Center employees who participated in Innovative Workplace Wellness’ “Three Keys Challenge” coordinated by our Wellness Coordinator, Erica Brown. The “Three Keys Challenge” is a proprietary three-month team weight loss program that encourages participants to focus on three key factors that contribute to long-term weight...

Compliance Alert! – NJ Gov. Phil Murphy Signs Two New Healthcare Acts into Law

This past week, New Jersey Governor, Phil Murphy, signed two bills into law that will impact New Jersey residents. Employers who offer benefits in New Jersey and surrounding states should be mindful of these changes as they will affect employees who reside and/or receive medical treatment in New Jersey. Out-of-network...

Horizon BCBSNJ Changes Coverage for Brand Name Oral-Combined Contraceptives

Starting June 15, 2018 , Horizon Blue Cross Blue Shield of New Jersey will be making changes to the way brand name oral-combined contraceptives are covered. Previously covered with a $0 copay, brand name oral-combined contraceptives will now be subject to co-payment or coinsurance that corresponds with the member’s pharmacy...

Innovative Welcomes Ann Lipiros

This week, Innovative welcomes our newest team member, Ann Lipiros. Ann graduated with a bachelor’s degree in Marketing from St. John’s University in New York. She has experience as a retail Assistant Manager and a Benefits Account Manager. Ann will be supporting our Account team as a Benefit Guardian, serving...

Innovative Sits Comfortably with Strive

Innovative Benefit Planning has partnered with Strive Physical Therapy to combat the ill effects of a sedentary lifestyle. On Friday, May 18th Jason Melnyk from Strive met with Innovative Benefit Planning employees to educate the team on all of the intricacies of desk ergonomics during their “DeskFit” lecture. The “DeskFit” session...

IRS Releases 2019 Calendar Year HSA Contribution Limits and HDHP Deductible Minimums and Out-of-Pocket Maximums

The IRS has released the maximum contribution limits for Health Savings Accounts (HSAs) and High Deductible Health Plan (HDHP) minimum deductibles and out-of-pocket maximums for the 2019 Calendar Year.  For your convenience, we’ve provided a summary below. You can reference the official document here.   Health Savings Account contribution limit for...

New Jersey Paid Sick Leave Act Signed into Law

New Jersey has now become the tenth state to enact a statewide mandatory paid-sick-leave law. The New Jersey Paid Sick Leave Act was signed into law on May 2nd by Gov. Phil Murphy and will go into effect on Oct. 29, 2018. Once effective, it will require New Jersey employers...

2018 Health Savings Account Contribution Limits Change Once Again

If you recall, after the passing of the tax reform bill, known formally as the Tax Cuts and Jobs Act, the IRS adjusted the amount for HSA family contributions from $6,900 to $6,850 due to a change in inflation calculations. After public outcry and consideration of the administrative and financial...

New Jersey Newborn Mandate Changes in 2018

In January 2018, the State of New Jersey updated the existing NJ Newborn Mandate that provides health coverage for all newborns from the moment of birth for the first 31 days to provide coverage from the moment of birth for the first 60 days. The newborn child of a subscriber...

March Compliance Recap

March was a quiet month in the employee benefits world. The Internal Revenue Service (IRS) released a bulletin that lowered the family contribution limit for health savings account (HSA) contributions. The U.S. Department of Labor (DOL) updated its model Premium Assistance Under Medicaid and the Children’s Health Insurance Program notice...

PrimeMail by Walgreens Gets a New Name

Effective 3/31/2018 PrimeMail by Walgreens Mail Service will operate under the name “Alliance RX Walgreens Prime“.  Prime + Walgreens assures customers that only their name is changing. AllianceRX Walgreens Prime promises to stay consistent with their standards for communications, prescriptions, refills and service. Employers who have health plans with Horizon...

The Importance of Wellness in the Workplace

Workplace Wellness is an investment which works much like any other investment- You put in time and money in hopes of a more valuable outcome, which in this case is the health of your employees, their families and your bottom line. Engagement, motivation, strategy, and support are the keys to...

Innovative Welcomes Mima Jovanovic

Please join us in welcoming Innovative’s new Benefit Consultant, Mima Jovanovic. Mima Jovanovic is an accomplished employee benefits consultant with over 20 years of experience cultivating new business opportunities and developing strategic health and welfare programs. He brings a unique perspective to clientele; with significant experience and skills on both...

IRS RECALCULATES 2018 HSA & EMPLOYER ADOPTION ASSISTANCE PROGRAMS

Yesterday, the Internal Revenue Service (IRS) released a bulletin that includes a change impacting contributions to Health Savings Accounts (HSAs) and Employer Adoption Assistance Programs. The family HSA contribution for 2018 has been  reduced  from $6,900 to 6,850. This change is effective January 1, 2018. We advise plan participants to...

Innovative Heads to Capitol Hill

Earlier this week Dan Foley, Ryan Kastner & Yesenia Perez from the Innovative team headed to Washington D.C. for the NAHU 2018 Capitol Conference.  During their time in Washington, the trio attended a number of informative sessions that detailed changing legislation that directly impacts the health insurance market and engaged...

Focusing on FMLA

Human Resource professionals are often asked by their employees about taking a leave of absence. Sometimes, these leaves of absences are protected by the federal government. The Family and Medical Leave Act (FMLA) entitles eligible employees of covered employers to take unpaid, job-protected leave for certain medical and family reasons....

Innovative Supports Samaritan Healthcare & Hospice

Innovative is proud to support long-time partner, Samaritan Healthcare & Hospice, as a gold sponsor at tomorrow night’s annual Celebration of Life Gala. The event will be held at the Crowne Plaza in Cherry Hill, NJ. Gala proceeds support the gift of hospice, palliative, and grief support services for all Samaritan patients...

January Compliance Recap

January was a busy month in the employee benefits world. On January 24, 2018, the U.S. Senate confirmed Alex Azar as the new Secretary of the U.S. Department of Health and Human Services (HHS). The U.S. Department of Labor (DOL) proposed regulations regarding association health plans. HHS released the 2018...

Non-Profit Wager Win Makes the Eagles Victory Even Sweeter

After the Philadelphia Eagles secured their spot in Super Bowl LII, Innovative made a friendly wager with fellow United Benefit Advisors (UBA) partner firm, Employee Benefit Solutions (EBS) out of Massachusetts. The terms were simple- if the Eagles won, EBS would donate $500 to a Philly-area non-profit of Innovative’s choice...

Preventing Sexual Harassment in the Workplace

As you may have noticed, with an increase in media coverage regarding sexual harassment in the workplace, now is a good time to think about your company’s practices. Does your company have a sexual harassment policy? Are you confident that the sexual harassment policy has been recently updated and that...

Putting Our Money Where Our Mouth Is!- Superbowl 2018

The Innovative team is getting ready for The Philadelphia Eagles to _ make history _ when they take down the New England Patriots in this Sunday’s Super Bowl. We’ve decided to have a little fun and team up with Employee Benefit Solutions (EBS), a United Benefit Advisors (UBA) partner firm...

Innovative Welcomes Jay O’Brien

We are excited to announce Innovative’s new Vice President of Financial Operations, Jay O’Brien. Jay will be enhancing our financial account management services and run day-to-day operations. He will also be instrumental in developing our wealth management offering. More about Jay Jay grew up on Long Island and moved to...

Trump Signs Bill to Delay Cadillac and Health Insurance Taxes

On January 22, 2018, the U.S. Congress voted to pass a bill that would continue to fund the government through February 8, 2018. President Trump signed the bill today, January 23, 2018. In addition to continuing government funding, the bill also includes two legislative victories for employers: delaying the Cadillac...

Innovative Welcomes Greg Blemlek

Please join us in welcoming Innovative’s new Director of Business Development, Greg Blemlek! Greg has worked in sales & overall growth leadership roles for most of his career. Most recently, Greg had the responsibility of leading a large regional sales and consulting team.  During this time, Greg focused on growing...

December Compliance Recap

December was a relatively busy month in the employee benefits world. The Internal Revenue Service (IRS) delayed the reporting deadlines in 2018 for the 1095-B and 1095-C forms to individuals. President Trump signed the Tax Cuts and Jobs Act. The Centers for Medicare and Medicaid Services (CMS) released guidance on...

IRS Announces Extension for Furnishing 1095-B & 1095-C Forms to Employees

Recently, the Internal Revenue Service announced an extension for employers to provide 1095-B or 1095-C Forms to their employees. The IRS announced a 30-day extension, extending the due date from January 31, 2018 to March 2, 2018. The IRS has not announced an extension for filings to the IRS. Therefore,...

Innovative Supports Oaks Integrated Care

This holiday season, the Innovative team has been collecting for Oaks Integrated Care‘s Holiday Giving Drive. Oaks Integrated Care is a non-profit organization that supports adults, children and families throughout New Jersey during vulnerable and turbulent times through a variety of health and social services. The Innovative team came together...

Innovative Team Decorates Company Tree on Main Street

Last night, a group of Innovative employees made their way down to Moorestown’s Main Street where we decorated Innovative’s company tree. Innovative’s tree is one of a handful of trees lining Main Street this holiday season for the Moorestown Business Association. Our tree features snowmen made by each of our...

IRS to Send ACA Penalty Letters

The Internal Revenue Service (IRS) has indicated that it plans to begin notifying employers by year end of their potential liability for failing to provide sufficient health coverage that is compliant with the Patient Protection and Affordable Care Act (ACA). The agency will begin notifying Applicable Large Employers (ALEs) of...

Innovative Partners with Morey’s Piers & Beachfront Water Parks

Innovative is excited to announce our new partnership with Morey’s Piers & Beachfront Water Parks. Morey’s Piers, located in Wildwood, New Jersey is an iconic seaside amusement park comprised of three amusement piers and two beachfront waterparks beloved by beachgoers far and wide. Innovative has been selected as the Benefit...

Innovative Gets in the Holiday Spirit

This year, the Moorestown Business Association will be lining Moorestown’s Main Street with festive trees sponsored by local businesses. This afternoon, Innovative employees enjoyed a team lunch and decorated personalized ornaments for our company tree. The decorations for our tree reflect our organization’s core values- putting people first, creating & embracing...

Lunch N’ Burn

As a part of our “Fall Fun & Fitness Challenge” the Innovative team took part in a “Lunch N’ Burn” this afternoon lead by Innovative’s Wellness Coordinator, Erica Brown. After a healthy lunch, Erica lead the team in a “Deskercise” circuit. The team members all received resistance bands and guided...

Innovative Attends Urban Affairs Coalition Breakfast

On Friday morning, the Innovative team proudly supported our client, Urban Affairs Coalition, at the 48th Anniversary Breakfast at the Pennsylvania Convention Center. Over 800 guests came together to support the mission of the UAC – to unite urban communities to improve the quality of life, build wealth and solve emerging...

Innovative Accepts Lifetime Achievement Award at National Philanthropy Day Breakfast

A handful of employees from the Innovative team attended the National Philanthropy Day Breakfast at the Mansion on Main Street this morning. The breakfast, coordinated by the Association of Fundraising Professionals of Southern NJ Chapter, celebrated several local honorees who contribute to the success of fundraising in South Jersey. Innovative...

Innovative Welcomes Shannon Palmucci and Kimberly Fisher

The Innovative team is growing again! We recently welcomed two new employees, Shannon Palmucci and Kimberly Fisher.  Shannon attended Rider University where she majored in Accounting. She is joining Innovative as an Account Associate with an extensive background in customer service including 5+ years of experience specializing in benefit administration,...

Innovative Kicks off Fall Fun & Fitness Challenge with Barre & Balance Class

From November 1st through December 20, the Innovative team is partaking in a “Fun & Fitness” Fall Challenge organized by Innovative’s Wellness Coordinator, Eric Brown. The challenge is comprised of a number of fitness activities with corresponding point values. Employees are encouraged to engage in a variety of healthy activities...

Fiduciary Rule Update

As you may remember, major components of the Department of Labor (DOL) fiduciary rule have been applicable to retirement advice since June 9, 2017. However, on November 2, 2017, the DOL sent a final rule that would extend the transition period of its fiduciary rule by 18 months to the...

DOL Overtime Rule Defeated in Court, DOL to Appeal

As you may recall, the Department of Labor put forth overtime regulations that would have taken effect last December, enabling 4.2 million employees to be eligible for time and a half wages for every hour worked over the standard 40 hours per week. However, a number of business groups filed...

Innovative Supports Steps for Seizures

Members of the Innovative team spent this past Saturday at the Steps for Seizures 5k at Washington Lake Park in Sewell, NJ. The event was hosted by Clayton’s Hope Organization which raises funding for Epilepsy research, awareness and support. The team walked in support of Elisha’s Mission, a cause dedicated...

Innovative Celebrates Halloween with a Healthy Twist

The Innovative staff enjoyed a fun day at the office this Halloween with visits from a few of the employees’ children and furry friends. The team was treated to a healthy lunch complete with nutritious Halloween-themed desserts prepared by our Wellness Coordinator, Erica Brown and Retirement Plan Specialist, Nicole Offerman....

Innovative Wins Small Business Award from South Jersey Biz

Innovative is proud to announce that we were recognized in South Jersey Biz Magazine as one of the “Small Business Award” winners! We are excited to be recognized by the local community and named alongside some of the most successful small businesses in the region. Check out our section on...

Innovative Supports Resources for Human Development

Innovative’s Terriann Procida and Mark Sulpizio were honored to be Jerry Miller’s guest to the Resources for Human Development‘s October 18th  annual_Main Line Wine Gala._ Proceeds from the gala support four wonderful initiatives of Resources for Human Development. Terriann and Mark happily purchased a wonderful piece of artwork created by an artist from...

IRS Releases Maximum Contribution, Deferral and Compensation Limits for HSA, FSA, and 401(k) for 2018

The IRS has released the maximum contribution limits for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) for 2018.  The IRS also released the maximum deferral and compensation limits for 401(k) accounts. Health Savings Accounts Single Coverage Maximum Contribution Limit: $3,450 ($50 increase from 2017) Family Coverage Maximum Contribution...

Innovative Supports the 13th Annual Moorestown Progressive Dinner

Innovative Benefit Planning proudly sponsored the Oaks Integrated Care 13th Annual Moorestown Progressive Dinner on Friday, October 13th. Guests gathered at a number of volunteer host homes throughout Moorestown and enjoyed meals prepared by volunteer chefs from some of the area’s most popular restaurants and caterers. Proceeds from the event...

President Trump Ends ACA Cost Sharing Reductions

On the evening of October 12, 2017, President Trump announced that cost sharing reductions for low income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped. The Department of Health and Human Services (HHS) has confirmed that payments will be stopped immediately. It is...

Innovative Welcomes Luke Howard

Please join us in welcoming Innovative’s new Data Analyst, Luke Howard. Luke has a B.S. in Chemical Engineering  and during his schooling he was heavily focused on research for sustainability in conjunction with the EPA. He worked primarily with major manufacturers such as DuPont and Nestle in wastewater purification. Luke...

Compliance Alert!

Two tri-agency (Internal Revenue Service, Employee Benefits Security Administration, and Centers for Medicare and Medicaid Services) Interim Final Rules were released and became effective on October 6, 2017, and will be published on October 31, 2017, allowing a greater number of employers to opt out of providing contraception to employees...

Innovative to be Honored for Lifetime Achievement for Philanthropy

Innovative is honored to announce that the Association of Fundraising Professionals of Southern New Jersey will be honoring Innovative Founders, Terriann Procida and Mark Sulpizio, with the Lifetime Achievement Award at the 9th Annual National Philanthropy Day Celebration. Terriann and Mark will be honored for their contributions to the success...

Ryan Kastner Moderates NPDC HR Breakfast Panel

This morning at Adelphia Restaurant & Lounge in Deptford, NJ the Nonprofit Development Center of Southern New Jersey held a breakfast panel discussion for Nonprofit Human Resource professionals. The panel discussion focused on various talent management issues in the nonprofit community. Innovative’s Employee Benefits Consultant, Ryan Kastner, had the pleasure...

Ryan Kastner Speaks at Pennsylvania State SHRM Conference

Earlier this morning, Innovative’s Employee Benefits Consultant, Ryan Kastner, had the pleasure of presenting at the Pennsylvania State SHRMconference in State College, PA. Ryan’s presentation, “Healthcare Trends in the Trumpcare Era” detailed the most recent national and regional employer health plan trends from the United Benefit Advisor’s  Annual Health Plan...

Innovative Employer Identity Monitoring and Restoration Services

Recently, Innovative had the pleasure of seeing Frank Abagnale speak at the UBA Conference in Chicago. You may recognize Frank’s name from the movie “Catch Me If You Can” where he was played by Leonardo DiCaprio. Frank became (in)famous for writing fake checks (among other things) as a teenager. Later...

Post-Equifax Cyber Breach: Retirement Plan Sponsor Considerations

Plan sponsors have a fiduciary obligation to safeguard and preserve the assets of their employee benefit plans. As the number of cyber hacks continues to increase, plan fiduciaries must take certain steps to protect plan assets. Measures include evaluating security measures currently implemented by your organization, understanding the plan’s service...

Post-Equifax Cyber Breach: Employer and Human Resource Considerations

Under EEOC regulations, employers can utilize credit checks when hiring employees, provided that the information is relevant to the position. For example, an individual who will be responsible for providing sound investment advice to clients, must prove to the company that their own credit is satisfactory. However, many vendors sell...

DOL Fiduciary Rule Delay Approved by Office of Management and Budget

As you may be aware, the Department of Labor requested to push back the final implementation date of the fiduciary rule, originally scheduled for January, to July 2019. The 18-month delay was approved by the Office of Management and Budget (OMB) of the White House this week. While the delay...

Regarding the New York Paid Family Leave Law

NEW YORK PAID FAMILY LEAVE LAW Eligible employees will be able to take NYPFL to take care of a seriously ill family member, to bond with a newborn, adopted or foster child, or for military exigency, as defined by the federal FMLA rules. The New York Disability Benefits Law (NYDBL)...

July Compliance Recap

July was a relatively quiet month in the employee benefits world, despite the U.S. Senate’s release of two bills in its attempt to repeal the Patient Protection and Affordable Care Act (ACA). First, the U.S. Senate revised its Better Care Reconciliation Act and declined to vote on its revision. Then...

ACA/BCRA Update

As you know, a few weeks ago Senate Republicans drafted a bill, the Better Care Reconciliation Act (“BCRA”), in an effort to repeal and replace the Patient Protection and Affordable Care Act (“ACA”). If you remember, Republicans currently hold a 52-member majority in the Senate, therefore Senate Republicans are left...

June Compliance Recap

June was an active month in the employee benefits world. The U.S. Senate released a draft of the Better Care Reconciliation Act of 2017 which would substitute the U.S. House Resolution 1628 that aimed to repeal and replace the Patient Protection and Affordable Care Act (ACA). The U.S. Supreme Court...

PCORI FILING DUE TO IRS BY JULY 31

It’s that time of year again for PCORI fees to be paid. As you may already know, the Affordable Care Act established the Patient-Centered Outcomes Research Institute (PCORI). The purpose of PCORI is to promote research efforts that will help Americans make better informed health decisions. To fund this effort,...

DOL Releases Additional Guidance Regarding the Fiduciary Rule

As part of our commitment to ensuring that our clients are kept up-to-date on the changes to applicable laws, the Department of Labor (DOL) has released additional guidance regarding the Fiduciary Rule. In our recent blog post, we discussed the applicability date of the Fiduciary Rule being delayed from April...

Innovative & Ryan Kastner Honored at Annual United Way Awards Celebration

This Thursday, May 18th, the Innovative team attended the Annual United Way of Burlington/Camden Counties Awards Celebration at the Ramblewood Country Club in Mount Laurel, NJ. Innovative was honored to receive the “Culture of Caring” Award for organizations with outstanding employee participation rates. Innovative’s Employee Benefits Consultant, Ryan Kastner, was...

The CHOICE Act and its Impact on the Fiduciary Rule & Dodd-Frank

Late last week, the House Financial Services Committee approved the CHOICE Act for consideration by the full House of Representatives. The CHOICE Act is likely the first step towards Congressional repeal of the Department of Labor’s fiduciary rule. In addition to undoing or potentially replacing the Dodd-Frank Wall Street reform...

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