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From informational seminars to programs tailored to your company's needs, we offer a wide range of benefit services. Let us help you provide your staff with the benefits they want and need.

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The secret to our success is our team of professional benefits advisors and service representatives. Call us today at 248-663-4765 and we'll design, implement, and service an exclusive benefit package for your business.
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November 19, 2024
Learn more about the final forms and instructions for 2024 ACA Reporting and the IRS releases Health FSA limits for 2025. FINAL FORMS AND INSTRUCTIONS FOR 2024 ACA REPORTING NOW AVAILABLE The IRS has released final 2024 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056: • 2024 Forms 1094-B and 1095-B (and instructions) can be used by providers of minimum essential coverage— including self-insured plan sponsors that are not applicable large employers (ALEs)—to report under Section 6055. • 2024 Forms 1094-C and 1095-C (and instructions) can be used by ALEs to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans. No major changes were made to the final forms and instructions for 2024 reporting. As a reminder, the electronic filing threshold for returns required to be filed on or after Jan. 1, 2024, is 10 or more returns (originally, the threshold was 250 or more returns). This requirement applies in the aggregate to certain information returns. Accordingly, a reporting entity may be required to file fewer than 10 of the applicable Form 1094 and 1095 but still have an electronic filing obligation based on other kinds of information returns filed (e.g., Forms W-2 and 1099). Employers should become familiar with the forms and instructions for 2024 calendar year reporting and prepare to promptly furnish individual statements and file returns. Individual statements for 2024 must be furnished by March 3, 2025 . Electronic IRS returns for 2024 must be filed by March 31, 2025 . IRS RELEASES HEALTH FSA LIMITS FOR 2025 On Oct. 22, 2024, the IRS released Revenue Procedure 2024-40 (Rev. Proc. 24-40), which includes the inflation-adjusted limits for 2025 for health flexible spending accounts (FSAs). For plan years beginning in 2025, the adjusted dollar limit on employees’ pre-tax contributions to health FSAs increases to $3,300. This is a $100 increase from the 2024 health FSA limit of $3,200. As background, the Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health FSAs. This limit started at $2,500 for plan years beginning on or after Jan. 1, 2013, and has been adjusted for inflation for subsequent plan years. Employers should ensure their health FSAs will not allow employees to make pre-tax contributions over $3,300 for the 2025 plan year. Also, employers should confirm their health FSA contribution limit is included in the plan’s documents and communicate it to employees at enrollment time. In addition, as an exception to the use-or-lose rule, employers with health FSAs may allow employees to carry over a certain amount of funds remaining at the end of a plan year to reimburse eligible expenses incurred in the plan year immediately following. The maximum carryover amount is adjusted annually for inflation. For 2025, Rev. Proc. 24-40 increases the maximum carryover limit to $660 (from $640 for 2024). Provided to you by MFC Benefits, LLC © 2024 Zywave, Inc. All rights reserved Download the PDF copy here. Link: http://chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://content.zywave.com/file/b6f7a224-b3a3-4409-a8f2-953f0994d66a/Benefits%20Buzz%20Newsletter%20January%202024.docx Link: http://chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://content.zywave.com/file/b6f7a224-b3a3-4409-a8f2-953f0994d66a/Benefits%20Buzz%20Newsletter%20January%202024.docx
October 31, 2024
Learn more about this year's flu season, the power of breathwork, and how to plan for a stress-free holiday season. WHAT TO KNOW ABOUT THIS YEAR'S FLU SEASON In the United States, influenza (flu) season lasts from October through May, with peak flu activity between December and March. What's more, flu season in the Southern Hemisphere often indicates what's to come in the United States. Data revealed that the 2024 flu season in the Southern Hemisphere was similar to previous flu seasons. With the potential for this year's flu season to be severe in the United States, vaccination remains the most effective way to prevent the flu, especially severe disease and hospitalization. The U.S. Centers for Disease Control and Prevention (CDC) estimates that the flu caused between 9 million and 41 million illnesses annually between 2010 and 2023. How to Stay Healthy The flu can cause serious complications for people of any age, but children and older adults are especially vulnerable. To help keep your household healthy this flu season, consider these tips: - Get the flu vaccine. Being vaccinated against the flu is your best chance of preventing the illness. The CDC recommends that anyone aged 6 months and older get a flu shot every year. - Avoid close contact with people who are sick, and stay away from others when you feel unwell. Because flu, cold and COVID-19 symptoms are similar, doctors say it's best to get tested to know what you have. - Wash your hands often using soap and warm water to protect against germs. If soap and water are unavailable, use an alcohol-based hand sanitizer. - Cover your mouth and nose. Cough or sneeze into a tissue or your elbow, and dispose of tissues immediately. - Get seven to nine hours of quality sleep each night to boost your immune system. - Exercise regularly to strengthen your body and make it more resilient against infections, including the flu. - Stay hydrated and eat a nutritious diet rich in whole grains, lean proteins, fruits, vegetables, and fiber. Experts recommend getting vaccinated against the flu by the end of October, so don't delay getting your shot. Contact your doctor today to learn more about vaccines. THE POWER OF BREATHWORK Breathwork, an ancient practice now embraced in modern wellness, benefits physical and mental health. By consciously altering your breathing patterns, you can: - Reduce stress. You'll activate the parasympathetic nervous system, promoting relaxation and reducing chronic stress. - Enhance focus. Slow, deep breathing can improve your concentration and emotional resilience. - Boost overall health. Breathwork positively impacts physical health, emotional well-being and sleep quality. Taking a few intentional breaths can make a difference, so try the techniques below. COMMON BREATHING TECHNIQUES - Equal breathing: inhale and exhale for the same amount of time, such as breathing in for four seconds and out for four. - Box breathing: mirroring the shape of a box, inhale for a count of four, hold for four, exhale for four and hold for four. - Deep breathing: for the 4-7-8 technique, breathe in for a count of four seconds, hold for seven and breathe out for eight. START PLANNING NOW FOR A STRESS-FREE HOLIDAY SEASON While the holiday season often brings joy, it can also cause stress for many individuals. Top holiday stressors include budgeting, managing multiple commitments and finding the perfect gifts. Fortunately, getting organized and planning what you can do ahead of time can help reduce your holiday stress. Consider these tips: - Write down any known commitments . Are you hosting a holiday dinner? Does your child's school have a seasonal concert? Make a list of your commitments will help you plan your time accordingly and avoid double-booking yourself. - Create your budget now . If you're stressed about how your holiday spending will impact you after the season ends, you're not alone. Set and stick to a realistic budget. Remember that a gift's sentiment is more important than the cost. - Start shopping early. Sometimes, you can get great deals on presents before the holiday season hits. Also, you can avoid the scenario (and stress) of not being able to get the gift you want because it's sold out. This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. Readers should contact a health professional for appropriate advice. © 2024 Zywave, Inc. All rights reserved. Download the PDF copy here.
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