Monthly Archives: October 2012

BASIC FSA Client Notice: $2,500 Cap

October 11th, 2012

For BASIC FSA clients, starting with plans that begin 1/1/2013 and after, BASIC will automatically amend your Medical Reimbursement Account (MRA) plan renewal maximum to $2,500 (if your current limit is greater than $2,500). BASIC will provide an updated SPD and plan document reflecting the change. This change does not impact your company if your...

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We’ve Got the BASICS of FMLA Covered

October 11th, 2012

Even the best HR staff can miss a small detail. Fortunately, BASIC’s integrated HR solutions can bring everything full-circle, offering you the expertise needed to rest easy. Let’s review FMLA basics; to be FMLA eligible an employee must have been with your company for 12 months and worked a total of 1,250 hours during the 12...

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IRS Creates Chart to Aid Form W-2 Reporting Compliance

October 11th, 2012

The IRS has created a chart that illustrates the types of coverage that employers must report on their Form W-2. Certain items are listed as “optional,” based on transition relief provided by Notice 2012-9 (restating and clarifying Notice 2011-28). Future guidance may revise reporting requirements but will not be applicable until the tax year beginning...

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Pay for Holiday Closures?

October 11th, 2012

When a company decides to close on Thanksgiving Day or for the entire week between Christmas and New Year’s Day, is the employer required to compensate any of its employees? Well, that depends. For non-exempt (overtime eligible employees), the company is generally not required to pay employees on days in which they do not perform...

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