Mike is an employee benefits specialist with more than 20 years of experience. His list of clients includes some of Kansas City’s most established businesses. Today he primarily focuses on large-group accounts, whether fully insured or partially self-insured.
As an agency principal, Dan joined the team in 2005 bringing with him more than 16 successful years of experience owning his own agency. Dan’s areas of expertise include workers' compensation and packaged insurance programs for small business owners. With a previous background in the building trades, Dan is also well positioned to serve the unique needs of general and artisan contractors. He has proven skills in helping business owners and contractors navigate through the complexities of contractual insurance requirements – a pitfall often overlooked by less seasoned agents.
Bukaty Financial Services opened a new office in Austin, Texas, in February 2015.
Austin is the third location for the rapidly growing division, which in addition to adding staff to in the Kansas City office, acquired two Denver firms in January 2015.
“Austin is a great growth market,” said Vince Morris, president, Bukaty Financial Services. “Our exponential company growth strengthens the service and opportunities we provide all our clients, in every region.”
Over a year ago, the IRS issued Notice 2013-54 stating that employer payment plans that reimburse an employee for some or all of their health insurance premiums did not comply with Affordable Care Act provisions.
The IRS warned that employers who sponsor such plans would be subject to an excise tax of $100 per day for each affected individual. A new IRS Notice 2015-17 issued last month provides limited transition relief for select employers.
The relief applies to health care arrangements that constitute:
A new rule entitles all workers in legal, same-sex marriages to protected job leave to care for a spouse with a serious health condition.
Previously, spousal care leave under the federal Family and Medical Leave Act (FMLA) was limited to opposite-sex couples or to same-sex couples living in states where gay marriage is legal.
Effective March 27, 2015, eligible employees may take FMLA leave for spousal care, regardless of state residence.
The U.S. Labor Department revision to the FMLA is consistent with the U.S. Supreme Court ruling in United States v. Windsor.
Despite many warnings about the February 15, 2015, health insurance deadline, you might have gotten another break.
Did you know that you could owe money when you file your tax return if you don't have health insurance?
Apparently, many didn't.
The Centers for Medicare & Medicaid Services (CMS) announced another special enrollment period from March 15 to April 30.
Employer health plans must meet new IRS reporting guidelines for 2015
Large employers, those with 50 or more full-time equivalents (FTEs), and sponsors of self-insured plans are required to file information returns to share with employees and the IRS. The reports are effective for coverage offered in 2015 and must be given to employees by January 31 of the year following the coverage year (2016) and must be filed with the IRS by February 28 (March 31 if filed electronically).
The Centers for Medicare and Medicaid Services (CMS) has announced that, for some, the Health Insurance Marketplace enrollment deadline is extended to February 22, 2015.
Coverage will have a March 1, 2015, effective date.
The extension is in response to technical issues enrollers may have experienced as well as extended call wait times on February 15 and the days leading up the deadline.
CMS conditions for an enrollment extension:
Bukaty Companies Financial Services announces the expansion of its Denver office with the acquisitions of Investment Management Consultants Limited and 401K Squared.
The addition of the Littleton, Colorado, companies brings a total of 60 retirement plans under management and 210 high-net-worth clients to Bukaty Companies’ Denver offices.
Bukaty will have eight employees in the region, and growth will continue with several new employees by year end.
On your tax return this year, Uncle Sam will ask if you had minimum essential health insurance coverage in 2014.
If not, you’ll pay a penalty with your tax return, unless you qualify for one of multiple exemptions allowed by the IRS.
The moment of truth appears on Line 61 of the Form 1040. If you had qualifying coverage for every month of 2014, you can check the “full-year coverage” box.
Otherwise, you’ll need to complete Form 8965 and identify the exemption you qualify for, or calculate the penalty for not having coverage and enter it on Line 61.