HR Review
November 2023

ACA Reporting Updates for 2024: e-Filing Changes and Compliance

The landscape of Affordable Care Act (ACA) reporting is evolving, and as we move toward 2024, there are significant changes that employers need to be aware of. The IRS has introduced new rules, altering the way we approach ACA reporting, and it’s crucial for businesses, especially smaller employers, to stay informed and prepared.

Understanding the 2024 PCORI Fee Increase for Employers

Navigating employee benefits can be a complex task, especially when it involves understanding various fees associated with health plans. One critical fee that employers must be aware of is the Patient-Centered Outcomes Research Institute (PCORI) fee. Recently, the Internal Revenue Service (IRS) has announced an increase in the PCORI fees for the 2024 plan year. As an employer, it’s important to know what this increase means for your business and the health plans you offer to your employees.

Strategies for a Smooth 2024 Benefits Enrollment

In preparation for the 2024 open enrollment season, a clear and streamlined strategy is vital for a successful employee benefits selection. Employers should analyze past enrollments to identify successful strategies and areas for improvement, ensure timely and varied communication with employees, and take an active role in guiding them through their options. The goal is to empower employees to make informed decisions, contributing to a more engaged and productive workforce.

Medicare Open Enrollment 2024: What You Need to Know

The Medicare open enrollment period, running from October 15th to December 7th, is a critical time for individuals 65 and older or those with specific disabilities to reassess and adjust their healthcare coverage for the upcoming year. This annual window allows for changes in plan selection, updates to prescription coverage, and modifications to various coverage components, ensuring that individual healthcare needs are met.

Ready, Set, Plan: HR’s Roadmap to 2024

HR professionals are currently focusing on end-of-year tasks, aiming for a smooth transition into 2024. A comprehensive checklist is essential for managing these responsibilities effectively. Key tasks include updating knowledge of employment laws at federal, state, and local levels, ensuring timely communication of important year-end reminders to employees, preparing for the upcoming open enrollment period, reviewing the challenges of the past year, and setting clear goals for 2024.