September 2017
Stay Current Newsletter
art1Announcing Our New Look!
Today we are excited to unveil our updated brand identity, including a new logo, vibrant colors and messaging. You will see our new look on our social media, website, print and all communications. While we are still Benefits Done Right, our updated brand is simply BDR.

Why the change? BDR is shaping the future of employee benefits and we have taken great measures to ensure our brand reflects that. We are now part of one of the fastest growing employee benefits firms in the nation - giving us national reach with a local presence. While we say goodbye to our decade-old messaging of "Employee Benefits. Made Simple. Done Right", that remains the core of who we have been and will always be. We are still the same company and team of professionals leading the way for our clients, better than anyone else. We will negotiate the best renewals, leverage cutting-edge technology and through our relationship with Acrisure consistently provide far-reaching capabilities locally and nationally.
Thank you to our clients and strategic partners for your continued support.
BDR- A Different Approach to Employee Benefits
art3Cyber Security- Are You Aware?

You likely heard the recent news regarding the "cybersecurity incident" involving Equifax and the potential impact to approximately 143 million consumers. While the numbers are staggering in this instance, cyber incidents resulting in personally identifying information being exposed is a daily occurrence.
Identify theft protection with credit monitoring is an inexpensive way to protect yourself from such vulnerabilities and is a simple addition to any employee benefits program. Talk to your account manager today for more information. 

art4IRS: Health FSAs Cannot be Used for Insurance Premiums

A recently released IRS letter reaffirms the agency's view that funds from a health flexible spending arrangement (health FSA) may not be used to reimburse health insurance premium payments or Medicare premium expenses.

Certain Premiums May be Deducted

The IRS letter points out that health insurance premium payments, including those for Medicare, may qualify for purposes of the itemized deduction for medical expenses. However, only premiums for which the taxpayer is not claiming a separate credit or deduction can be included as part of a medical expenses deduction. Additional restrictions apply to this deduction. For more information, please see IRS Publication 502, Medical and Dental Expenses.

Click here to read the IRS letter in its entirety.

Article reprinted with permission from
art5HR Done Right Blog: Department of Labor's Overtime Ruling Update

Last December, the federal minimum salary for exempt employees was set to increase from $23,660 to $47,476. You may have heard that the U.S. District Court for the Eastern District of Texas just struck down the ruling.

Click here to read the HR Done Right blog.

art6 IRS Releases 2017 Draft Instructions for Forms 1094 and 1095

Final Instructions to be Released Later

The IRS has released the 2017 Draft Instructions for Forms 1094-B, 1095-B, 1094-C, and 1095-C to help employers and insurers prepare for calendar year 2017 Affordable Care Act (ACA) information reporting. Employers and insurers will use the final versions of the forms and instructions in early 2018 to report on health coverage offered (or not offered) in the 2017 calendar year.

Key Proposed Changes for 2017 Reporting

The 2017 draft instructions differ from the 2016 instructions as follows:
  • Draft Instructions to Forms 1094-C and 1095-C: The draft instructions have been revised to remove discussion of section 4980H transition relief, as none is available for 2017.
  • Draft Instructions to Forms 1094-B and 1095-B: While no significant form revisions are listed in the draft instructions, the "additional information" section refers reporting entities to regulations relating to the requirement to solicit the TIN of each covered individual (including available penalty relief for failure to report a TIN if certain regulatory requirements are satisfied).
Who is Required to Report?

The ACA requires insurers, self-insuring employers, and other parties that provide minimum essential health coverage to annually report information on this coverage to the IRS and to covered individuals using Forms 1094-B and 1095-B.

Applicable large employers (generally those with 50 or more full-time employees, including full-time equivalents) are also required to report information to the IRS and to their employees about their compliance with the ACA's employer shared responsibility ("pay or play") provisions and the health care coverage they have offered (or have not offered) using Forms 1094-C and 1095-C
Note: Self-insured employers that are applicable large employers must combine reporting under both information reporting provisions by filing a single information return, Form 1095-C, and transmittal, Form 1094-C.

Article reprinted with permission from
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