Businessolver Blog

The 12 Days of Benefits, Days 4-6

The 12 Days of Benefits, Days 4-6
Posted on Friday, December 16, 2016 by Businessolver Team

Advent calendar-02.jpgWe’re filled with holiday spirit at Businessolver!  

12 Days of Benefits 2016 Infographic

We’re continuing the 12 Days of Benefits, days 4 through 6: 

On the fourth day of benefits, the industry gave to me 4 percent employment growth. In addition to the final 2016 jobs report (which showed unemployment rate at an eight-year-low 4.6%), CareerBuilder projections show American companies are on track for 4.4 percent growth for the four-year period ending in 2017.  

On the fifth day of benefits, the industry gave to me 5 mooooore weeeeeeks (to send 1095 Forms). The IRS recently extended the deadline for employers to postmark 1095 Forms mandated under the Affordable Care Act. Companies now have an additional time to produce the forms – they now must be postmarked by March 2, 2017, five weeks beyond the original January 31, 2017 deadline.  

On the sixth day of benefits, the industry gave to me, 6 boxes of contacts. One-third of employees with flexible spending accounts (FSAs) forfeit an average $120 per year, due to the “use it or lose it” rule, according to WageWorks. Encourage employees to use, not lose! FSA users tend to make vision-related purchases to spend down funds. For contact lenses at an average cost of $20 per box, that equals 6 boxes.  

Plus, 3 new cabinet members, 2 major mergers, and a full-replacement HDHP.