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We know you're inundated with information about new compliance rules. And, we know how difficult it is to keep up with all the new legislation that will affect your business. However, paying attention to these details can save you from fees, fines and other misfortune; and may even present an opportunity to take advantage of valuable tax credits that are available to you and your employees. Earned Income Tax Credit (EIC)
Beginning January 1, 2008 employers in California must provide a special notice of possible eligibility for the Earned Income Tax Credit (EIC) to all employees covered by the California Unemployment Insurance Code. The new law requires employers to distribute the notice within one week before or after the date the annual W2 form is sent (no later than January 31st). There is no grace period and notices must be either hand delivered or sent in the mail. The new law differs from federal regulations in that it requires employers to deliver the notice of possible eligibility to all employees covered by unemployment insurance not just those who may qualify because of income. How Can RealCare Help?
First, CLICK HERE to review a newsletter from the law firm of Littler Mendelson which outlines the impact of the new law and provides guidelines for what you should do next. Then, CLICK HERE to download a sample notice to send to employees. This should keep you in compliance for the coming year and provide important information that can help your employees increase their take home pay.
COBRA - ERISA - HIPAA
Most small employers are unaware of the potential problems created by these - and other - regulations. It is important to have a broker that can assist with these issues. For example, did you know that ERISA requires employers to provide all eligible employees with summary plan descriptions (SPDs) of each qualifying plan they offer? Did you know that most insurance booklets do not qualify as SPDs? Did you know that COBRA requires an employer to send an initial notice whenever an employee enrolls in the health and dental plans? That it must be mailed to all enrolled dependents? These are only two of the most common mistakes made by employers. Being out of compliance on any of these issues can be costly. We can offer the following services and products to assist our clients in complying with various rules and regulations.
The greatest danger in making a COBRA mistake can occur if a Qualified Beneficiary was not properly notified of his/her rights and later incurs extensive medical bills. COBRA is an obligation imposed on employers , not carriers. An employer could be liable for hundreds of thousands in medical bills for failure to properly notify. And, there is no statute of limitations!
Need Help Now? Call us today! RealCare Group Department (800) 939-8088, Ext. 204 Visit these important sites for more information:
California EDD website: EDD
Visit the RealCare HR Website for the latest news and information - Click HERE
Department of Labor: DOL Here are SOME of the compliance related services RealCare provides:
1. CobraOnQue, COBRA administration software at no charge. This is a $499 value. Click here
for more information about this best selling software
2. Human resource administration software to make your job much easier
3. ERISA audit
3. Employee handbooks at deep discounts
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