Cultivating Creativity: Transforming Organizational Mindsets

Humans tend to put themselves into metaphorical boxes, defining their abilities and characteristics in rigid, “either/or” ways.

Consider this: Many people claim they’re analytical and not creative, believing these traits to be mutually exclusive. However, this binary thinking of “you’re either creative or you’re notis restrictive. The brain is not divided into only “creative” and “analytical” segments. Our cognitive processes are far more integrated and fluid.

Contrary to popular belief, creativity is not solely the domain of artists. It is a multifaceted skill that encompasses innovative thinking, problem-solving, and idea generation, all of which are crucial for personal, professional, and organizational growth. Read more

2023-2024 PCORI Fee Released

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The Patient-Centered Outcomes Research Institute (PCORI) fee established by the Affordable Care Act helps fund research to evaluate and compare health outcomes, clinical effectiveness, risks, and benefits of medical treatment and services.  The fee is currently in place through 2029.  In Notfice 2023-70, the IRS announced that the PCORI fee for plan years ending between October 1, 2023, and September 30, 2024, is $3.22.  This is an increase from the $3.00 payment for policy or plan years that ended between October 1, 2022, and September 30, 2023.  Employers and plan sponsors with self-funded plans are typically responsible for submitting IRS Form 720 and paying the PCORI fee by July 31 of the calendar year immediately following the last day of the plan year, meaning that payments for plan years that end in 2023 will be due in July of 2024. 

PCORI fees for self-funded plans are assessed on all covered lives, not just on employees.  Plan sponsors can use one of three methods to calculate the average number of covered lives for the fee: the actual count method, the snapshot method, and the Form 5500 method.  The fee for employers with fully insured plans is assessed per employee, as opposed to per covered life.  Many fully insured employers do not need to take any action, as the insurer will submit the payment on their behalf.  However, remember that fully insured employers with self-funded HRAs must pay the fee for each employee covered under the account. 

  

2023 PCORI Filing Fee Calendar 

Plan or Policy Year 

PCORI Filing Fee 

February 2022 – January 2023 

$3.00 

March 2022 – February 2023 

$3.00 

April 2022 – March 2023 

$3.00 

May 2022 – April 2023 

$3.00 

June 2022 – May 2023 

$3.00 

July 2022 – June 2023 

$3.00 

August 2022 – July 2023 

$3.00 

September 2022 – August 2023 

$3.00 

October 2022 – September 2023 

$3.00 

November 2022 – October 2023 

$3.22 

December 2022 – November 2023 

$3.22 

January 2023 – December 2023 

$3.22 

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Beyond the Paycheck: 5 Ways to Show You Value Your Employees

Employees are the backbone of your company. They drive growth and ensure stability and success. But office life is hectic, and showing appreciation can sometimes slip through the cracks or put as an “I’ll do it later” item on your to-do list.

Yet, when employees are recognized for their efforts, they are more engaged and productive and put their hearts into their work when they feel it matters. The numbers don’t lie:  Happy employees are 20% more productive.  

Here are five straightforward ways to show your employees they’re appreciated and valued. Read more

Elevate Your Business in the New Year: Make Information Management a Priority

It’s that time again – when we all make resolutions that we swear we’ll stick to this time. We swear we’ll stay caught up on our to-do lists, organize our emails, or make those important telephone calls. 

But here’s one your business genuinely can’t afford to skip: implementing a rock-solid information management system. Why, you ask? Let’s break it down. Read more

Electronic Filing Threshold Reduced in Draft 2023 Form 1094 and 1095 Instructions

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The Internal Revenue Service (IRS) recently released draft instructions for preparing, distributing, and filing 2023 Forms 1094-B/C and 1095-B/C. These instructions largely mirror guidance the IRS has published in previous years, except that the electronic filing threshold has been reduced from 250 forms to ten forms in aggregate.  

This year, employers could mail their Forms 1094 and 1095 to the IRS if their submission included fewer than 250 forms. For the 2023 ACA filing and beyond, employers that cumulatively submit at least ten forms to the IRS, including W-2s, 1099s, ACA Forms 1094/1095, and other common form series, must file all of those forms electronically. For example, if an entity issues four 2023 Forms W-2, five 2023 Forms 1095-B, and one 2023 Form 1094-B, then that sum of ten forms means they must file all of them electronically with the IRS when due in 2024. This change resulted from a final regulation the IRS issued earlier this year that officially reduced the electronic filing threshold for many form series. 

Employers that have historically submitted their Forms 1094/1095 to the government via paper mailing will need to consider overall how many forms they will be filing with the IRS in 2024, not just Forms 1094/1095, to determine whether they can continue to do so. Ultimately, the ten-form aggregate threshold will necessitate electronic filing for nearly every employer. We urge employers that have traditionally paper-filed their ACA forms to either register with the IRS as soon as possible so they can e-File themselves or to contract with a vendor that can confidently e-File on their behalf. 

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2024 Health FSA Inflation Adjustments Released

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Medication Non-Adherence: A Problem Employers Can Help Fix

Over 9 million adults cannot or do not take their medications as instructed.

Did that stat make you pay attention? It should.

Even if you offer insurance to your employees, they still might struggle with taking their medications and treating chronic conditions such as diabetes, high blood pressure, or high cholesterol—or taking any needed medicines for their health.

And you may not even know it. Read more

Webinar: ACA the Easy Way

 

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Geometric Image + Icon (5)Join Q4intelligence and Marissa Rufo of MZQ Consulting for a webinar on November 14, 2023, with an overview of the latest updates in employee benefits!

 

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Company Culture: The Productivity Powerhouse

Every employee has experienced those days when you feel awesome, energized, and accomplished at the office. Then there are those days when you can barely motivate yourself to show up, let alone get anything done. What’s the difference? 

Often, it comes down to your company’s work culture and environment. While physical factors like office layouts and snacks are nice perks, less tangible things like leadership, teamwork, and work-life balance have an even bigger impact on productivity.

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A Financial Wellness Wake-Up Call: How to Support Your Team

BrightPlan published its most recent Wellness Barometer Survey, a collection of data to help people learn what’s on employees’ minds and how employers can best support their team—especially in this changing market and workplace environment.

The survey focuses on financial wellness, an essential concern for employees. We’ll define financial wellness, summarize the most critical findings from the survey, and review how you can use these findings to support your employees. Read more