Portfolio company CFOs can recall the fear and uncertainty they experienced when the recession hit. Unprecedented market dynamics caused new concerns to emerge as they determined how the financial downturn would affect their company. Some of their concerns included whether their banking partners were on solid footing: Would they change their lending practices? Could they […]
The stock market is volatile and unpredictable, but the basic economic indicators are solid. The job market is as tight as it has ever been, particularly in major metro areas like San Francisco and New York City. When was the last time you looked at compensation options for your key players? Attracting, developing and retaining […]
Question: Can an employer make an exception for an individual who failed to timely elect or pay for COBRA coverage? Compliance Team Response: The COBRA rules generally require that qualified beneficiaries elect COBRA within 60 days of receiving the election notice, and that they make the first premium payment no later than 45 days after […]
As companies grow in size, maintaining a benefits plan that serves and supports all employees, aligns with company values and doesn’t overwhelm the human resources team can feel like an impossible task. But at ABD, we’ve come up with a strategy that accomplishes these goals and allows for more energy to be invested in higher […]
Over the last few weeks, the Governor of New York, Andrew Cuomo, unveiled his plans to legalize marijuana for recreational use in 2019 during his State of the State address. New York, which currently allows limited medical marijuana use, would join ten other states that have already legalized recreational marijuana, along with many more that […]
Question: Can an employer’s health FSA eligibility rules be different from the major medical plan? Compliance Team Response: Health FSAs must be considered an “excepted benefit” to avoid violating the ACA market reform provisions. The general requirements for a health FSA to be considered an excepted benefit (and therefore not subject to the ACA market […]
The start of 2019 marks over a decade since the Financial Crisis of 2008 wreaked havoc on the U.S. financial system and ignited the Great Recession. Ten years ago, Americans were dealing with the aftermath of the housing bubble burst and stock market crash while multi-billion-dollar bank bailouts and stimulus packages were moving through Congress. […]
Throughout the last couple of decades, use of prescription opioids has increased dramatically and exploded into a crisis of addiction and litigation affecting millions of Americans every year. Since 2016, over 289 million prescriptions for opioid drugs are written every year and over 1.7 million Americans suffered from chronic opioid abuse in 2017. High risks […]
Question: When can an employer use the “Qualifying Offer Method” or “98% Offer Method” for streamlined ACA reporting, and what are the advantages? Compliance Team Response: There are two streamlined ACA reporting methods available for employers that qualify: Qualifying Offer Method Requirements to Utilize Employers must meet two requirements to utilize the Qualifying Offer Method: […]
An easy way for leaders to learn and to keep up with workplace trends in 2019 is through podcasts. Most podcasts are free of charge, though donations are welcome. They usually run an hour or less, making them easily digestible during a commute or a walk. Below are a few podcasts we find interesting: Ashley […]
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