MJ Insight

Explore MJ Insight, where we cover trending topics, provide industry insights, and keep you up-to-date on the latest compliance regulations.

MJ Foundation
MJ Foundation | News and Updates

THE MJ FOUNDATION RELEASES ITS 2023 FOUNDATION IMPACT REPORT

INDIANAPOLIS (May 14, 2024) – The MJ Foundation, the charitable arm of leading financial services firm: The MJ Companies, has released its 2023 annual Impact Report highlighting its efforts and community contributions from the previous year. The report showcases a (…)

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Benefits+
PUBLISHED December 1st, 2023

ACA REPORTING: MOST EMPLOYERS MUST FILE ELECTRONICALLY BEGINNING IN 2024

Ann Poland

The Affordable Care Act (ACA) created reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056. Under these rules, certain employers must provide …

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Benefits+
PUBLISHED November 9th, 2023

2024 HEALTH FSA & QUALIFIED TRANSPORTATION LIMITS

Ann Poland

NOVEMBER 2023 In Revenue Procedure 2023-24, the IRS sets forth a variety of 2024 adjusted tax limits. Among other things, the notice indicates that …

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Benefits+
PUBLISHED November 3rd, 2023

PCORI FEE AMOUNT ADJUSTED FOR 2024

Ann Poland

The Internal Revenue Service (IRS) has issued Notice 2023-70 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on …

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Benefits+
PUBLISHED October 20th, 2023

FINAL FORMS AND INSTRUCTIONS FOR 2023 ACA REPORTING RELEASED

Ann Poland

The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056: Draft versions of these forms …

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Benefits+
PUBLISHED October 6th, 2023

HEALTH SAVINGS ACCOUNTS (HSAS) – WHO IS ELIGIBLE?

Ann Poland

Only eligible individuals can establish HSAs and make contributions (or have them made on their behalf). An individual’s eligibility for HSA contributions is typically …

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Benefits+
PUBLISHED August 25th, 2023

PAY OR PLAY AFFORDABILITY PERCENTAGE WILL DECREASE FOR 2024

Ann Poland

On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer’s …

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Benefits+
PUBLISHED August 11th, 2023

HOW EMPLOYERS SHOULD HANDLE MLR REBATES

Ann Poland

The Affordable Care Act (ACA) established medical loss ratio (MLR) rules to help control health care coverage costs and ensure that enrollees receive value …

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Benefits+
PUBLISHED July 11th, 2023

THE PWFA IS IN FULL SWING: ARE YOU READY?

Ann Poland

The Pregnancy Workers Fairness Act (PWFA) is now in effect as of June 27. This act focuses on the requirement for employers to provide …

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Benefits+
PUBLISHED July 9th, 2023

DOL ISSUES OPINION LETTER ABOUT HOLIDAYS DURING FMLA LEAVE

Ann Poland

On May 30, 2023, the Wage and Hour Division (WHD) of the U.S. Department of Labor issued Opinion Letter FMLA2023-2-A: “Whether Holidays Count Against …

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Benefits+
PUBLISHED June 16th, 2023

HSA CONTRIBUTIONS FOR ADULT CHILDREN ON PARENTS’ HEALTH COVERAGE

Ann Poland

Adult children who are covered under their parents’ high deductible health plans (HDHPs) may be eligible to establish their own health savings accounts (HSAs) …

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Benefits+
PUBLISHED June 1st, 2023

FAMILY GLITCH: UNDERSTANDING THE FIX

Bryan Gross

A new hurdle has emerged among the numerous challenges families face today—the family glitch. This glitch refers to the inequities associated with the affordability …

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