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CBG Benefits Acquired by Risk Strategies

I have some exciting news that I’d like to share with you. In May 2018, CBG Benefits entered into an acquisition agreement with Risk Strategies, a privately held, national specialty insurance brokerage and risk management advisory company. Risk Strategies is headquartered in Boston. Please click here to read the full press release regarding the acquisition. [...]

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Massachusetts Employer Medical Assistance Contribution Supplement (EMAC) Information

Beginning in 2018, Massachusetts has implemented a new Employer Medical Assistance Contribution (EMAC) Supplement fee that may impact many employers. Generally speaking, an employer may be assessed a penalty if they have any employees that are enrolled in MassHealth (excluding the premium assistance program) or the subsidized coverage plan through the Massachusetts ConnectorCare program. April [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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IRS Announces 2018 HSA Contribution Limit Changes

UPDATE: On April 26, 2018, the IRS issued an announcement that once again changed the maximum HSA family contribution limit for 2018. It is now set as $6,900. Click here for more details. On March 5, 2018, the IRS released Revenue Procedure 2018-18, which recalculates a number of cost of living increases for calendar year [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Massachusetts Employers Face New EMAC Health Assessment Fee

Starting January 1, 2018, employers in Massachusetts will be subject to the new Employer Medical Assistance Contribution (EMAC) supplement fee. This fee generally applies to employers with 6 or more employees in Massachusetts. It primarily targets employers with employees who are enrolled in MassHealth or in subsidized ConnectorCare coverage. In November 2017, proposed regulations were released. These regulations: [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Draft Forms for 2017 ACA Reporting Released

On July 28, 2017, the IRS released draft versions of the forms that employers will use to report on the health insurance coverage they offered in 2017. Generally, most applicable employers will use Form 1094-C and Form 1095-C to meet their reporting obligation under the Affordable Care Act. Below are links to the draft versions [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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House Committees Release ACA Replacement Bills

Update: On March 24, 2017, House Republican leaders withdrew the legislation this is discussed in this article before it could be voted on. On March 6, 2017, Republican leadership in the U.S. House of Representatives issued two bills that are collectively known as the American Health Care Act. The purpose of the Act is to [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Massachusetts Employment Law Update: 2017 Transit Benefits Exclusion Amounts

For 2017, Massachusetts has issued a Technical Information Release regarding the personal income tax exclusion amounts for employer-provided parking, transit pass, and commuter highway vehicle benefits allowed to employees. The Massachusetts monthly exclusion amounts for taxable years beginning in 2017 are: $255 for employer-provided parking $135 for combined transit pass and commuter highway vehicle transportation [...]

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