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Three important issues that may affect some of your clients in one way or another.

You may be familiar with them, but just in case….

1.    5500 filings—The DOL is proposing that every business offering employee benefits will have to file 5500s for 2019.  We can do these filings for your clients on a standalone basis.  Do you have any groups who should have filed in the past, but are now delinquent?  These are not going to fly under the radar any longer now that ACA is in full force.  Let me know if you have clients who need assistance with delinquent filings.  More info on what the DOL is aiming to do is attached.

2.    Fair Labor Standards Act (FLSA) was updated in May and has changed the minimum salary exempt employees must make in order to still be considered “exempt” from $23,660 to $47,476.  Why is this important?  Because employers now have to consider whether they’re going to bring their exempt employee’s salaries in line with the new regulations or reclassify them as hourly (and therefore have to pay them overtime wages when they work more than 40 hours a week).  For more info, see here:

3.    Long Term Care Facilities to Submit Payroll Based Journal Reporting—this one is for brokers who handle nursing homes.  In accordance with ACA, the Centers for Medicare and Medicaid (CMS) will be requiring such facilities to submit detailed staffing info electronically.  Payroll Based Journal Reporting (PBJ) is designed to promote accountability and consistency in reporting throughout the industry.  As of July 1, 2016, this reporting is mandatory.  This info will help the CMS monitor staffing levels and provide transparency to consumers when considering nursing homes for their loved ones.  This info can be provided manually or automated via time and attendance systems…..and, of course, we sell those!  More info on this one is attached as well.

Please reach out to your FNA Representative to discuss these or any other issues you may have questions about regarding your clients.
Proposal to Modernize and Improve the Form 5500

Payroll Based Journal Reporting