Category Archives: Employee News

Anthem Blue Cross Blue Shield Formulary Update

 Drug list changes coming April 1

Anthem BC/BS: We believe a sound review process for keeping our drug lists up to date is key to improving members’ health and controlling drug costs. It also helps make sure our members have access to medications they need.

Through our quarterly formulary (drug list) review process, we regularly add or remove drugs or make tier changes to our drug lists. This maintains the highest level of clinical integrity, while delivering cost savings to you and your employees. Medications may move to a higher tier or be removed from our drug lists twice a year. Our next update is coming soon, and the updated drugs lists* will be available as of April 1.

Paylocity Tax Rates

Due to the recently passed Tax Cuts and Jobs Act, we have begun using the new tax rates issued by the IRS. This will change your withholding and net pay on your next paycheck.
 
Below is one example of the impact of these changes. This example is for an individual claiming Married Filing Jointly with one allowance and an annual salary of $52,000. For simplicity, only the Federal Income Tax Withholding Calculation is shown without benefits and other taxes.
 20172018
Weekly Withholding Tax Savings$18.99
Annual Wage$52,000.00$52,000.00
Annual Allowance$4,050.00$4,150.00
Wage Less Allowances$47,950.00$47,850.00
Tax Bracket Base$27,300.00$30,600.00
Base Withholding$1,865.00$1,905.00
Wages in Excess of Base$20,650.00$17,250.00
Additional Over Base
(15% for 2017, 12% for 2018)
$3,097.50$2,070.00
Base Withholding Plus Excess$$4,962.50$3,975.00
Weekly Withholding (Divided by 52)$95.43$76.44

 Click Here to read more about the new tax laws.

IMPORTANT W2 INFORMATION

Make sure that your address information is correct in your Paylocity account. This is the address Outstaffing Payroll uses to mail your W2 form to you.

Also, now is the time to change/update or enroll in HSA and 401(k) plans!  Check them out from your Outstaffing Employee home page.

And did you know…you can view and download your check/tax information in Paylocity? And, you’ll be able to see and download your W2 forms online when available – even before they are mailed to you!

 

IRS Announces 2018 Standard Mileage Rates

The Internal Revenue Service (IRS) has issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, or medical purposes.

2018 Standard Mileage Rates
Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup, or panel truck will be:

  • 54.5 cents per mile for all business miles driven (up 1 cent from 2017)
  • 18 cents per mile driven for medical purposes (up 1 cent from 2017)
  • 14 cents per mile driven in service of charitable organizations (unchanged from 2017)

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

IRS Notice 2018-03 contains additional information about mileage rates.

 

New Tax Law Effectively Repeals the Individual Mandate

Repeal Effective in 2019

President Trump has signed into law the Tax Cuts and Jobs Act, which, among other things, effectively repeals the Affordable Care Act’s (ACA) individual mandate beginning in 2019.

Individual Mandate Repeal Effective in 2019
Under the ACA, individuals are currently required to have minimum essential health coverage, qualify for an exemption from the requirement, or pay a penalty tax. This ACA provision is known as the “individual mandate.” Effective in 2019, the individual mandate is effectively repealed, as the penalty tax for noncompliance with the mandate will be reduced to $0.

IRS Releases Statement on Withholding Under New Tax Law

Employers to Use 2017 Systems Pending New Guidance

The IRS is working to develop withholding guidance to implement the tax reform bill that was recently signed into law. According to a statement released by the agency, it expects to issue the new guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February. In the meantime, these entities should continue to use the existing 2017 withholding tables and systems.

Click here to read the IRS statement in full.

Happy New Year!

w-2 formWe will soon be mailing your w-2 tax forms.  In order to prevent any delay in getting these to you, please visit you Paylocity account and verify that the system has your current address.  Call us with any questions you may have.

Paylocity has published a document about the Tax and Jobs Bill.  Read more here.

Paylocity Login Screen Changes

The login screen for Paylocity was upgraded on September 28 for enhanced security.  However, your username and password remain the same.  If you forgot your password, you can click “forgot?” and follow the steps to reset the password.  Please go to your company  portal to login (see link on Engage email.)  If you do not remember your username, please contact our HR Department at 434-432-8600 ext. 2.

For enhanced security, you may be required to go through secondary authentication.  Please follow the instructions on the screen.  Remember to “trust” the network if appropriate.  This will ensure you do not have to keep authenticating each time you are at work.

Breaches Happen: What YOU can do to protect your personal information.

As long as hackers can make money selling your personal information, breaches will happen. Organizations do what they can to prevent them, but nothing is 100% secure.

The good news is that there are things you can do to lessen the chances of your information ending up in the wrong hands. The better news? IDShield has you covered! Are you signed up?

According to the Identity Theft Resource Center, there have been more than 1,000 data breaches reported this year. You trust the organizations you do business with to protect your personal information, and 80 percent of surveyed executives say their company has developed policies and procedures to mitigate security risks.

However, hackers are smart and they can move quickly. They also exploit employees’ willingness to trust that an email from an executive or third-party vendor is legitimate, unlocking a treasure trove of valuable information and putting customers at risk of fraud and identity theft.

When you hear of a major breach, your first thoughts are about how you might be affected. This is only natural and there is no way to predict when a breach may happen. However, there are ongoing, proactive steps you can take to protect your information, and help you quickly recognize when you may be at risk.

Limit your information sharing. If someone asks for your Social Security number, ask them why they need it, how they secure records, and what happens if you don’t provide it. Don’t include your full name, birth date, email address and mobile phone number on public social media profiles.

When in doubt, don’t click. Think twice before clicking on a link in any email or text message. Even if the message appears to be from someone you know and trust, hackers have gotten very good at making phishing attempts look legitimate.

Check online banking and credit accounts regularly. You can quickly detect fraudulent charges or notice suspicious activity.

Don’t ignore snail mail. Did you receive a credit card for which you didn’t apply? A collection notice for an account you don’t have? These are identity theft red flags. Also, review Explanation of Benefits (EOB) statements from your medical insurance provider to verify that the listed services/products were received by you or a family member covered by your plan.

Check your credit reports. Ongoing credit monitoring will alert you when something new is reported to the credit bureau file that it is monitoring. However, credit reports should still be reviewed at least annually. Visit annualcreditreport.com or call the Annual Credit Report Request Service at 877-322-8228 to get credit reports from all three reporting bureaus at no cost.

Review your Social Security Earnings and Benefits Statement. Look for errors in your annual income. A difference in what is recorded and what you actually earned could be a sign of employment-related identity theft. To order a statement, call 800.772.1213 or go to ssa.gov.

Do you have Identity Theft Protection? Outstaffing offers employees a Legal Protection plan, composed of two components: LegalShield and IDShield.  Sign up for one, or both! Learn more, or sign up here.

Global Fraud & Risk Report, Annual Edition 2016/17, Kroll

Think Twice about Freezing Your Credit

 

Credit freezes become a popular recommendation after a major breach, but Kroll Investigators advise placing a fraud alert with the credit reporting agencies instead. If you are considering a credit freeze, it’s important to understand what a credit freeze is, as well as the benefits and limitations.

A freeze blocks access to your credit file so only the creditors and other businesses with whom you have a current relationship will have access to your reports (with certain exceptions). With a freeze in place on all three of the national credit reporting agency (CRA) reports, new creditors, lenders, landlords, insurance companies, cell phone and utility companies, and potential employers
will be unable to evaluate your credit history. Without access to your credit history, any application for credit or other services while the freeze is in place will likely be denied.

Benefits of a credit freeze include:
■ Minimizing the risk of credit identity theft.
■ If you are already a victim of identity theft, there is usually no charge to place, temporarily lift, or remove a freeze.
■ A credit freeze does not aff ect your credit score.
■ In most states, the freeze will remain in effect permanently unless a request is received from the consumer to temporarily lift or permanently remove it. In a small number of states the freeze expires after 7 years.

Limitations include:
■ In order to be effective, a freeze must be placed with each of the three credit reporting agencies.
■ There can be a fee to place a freeze unless you are a proven victim of identity theft.
■ A freeze does not prevent fraud involving existing bank or credit accounts.
■ A freeze does not reduce the chance of existing account takeover, nor help prevent non-credit related issues, such as medical or criminal identity theft, or employment and tax fraud.
■ A freeze may not be effective with creditors, including payday loan companies and utilities, who do not run a credit check with the bureaus.
■ You must temporarily lift (or “thaw”) the freeze when you want your credit report to be available when applying for credit with a new creditor, potential employer, etc.
■ Fees to place and lift freezes, as well as the length of time a freeze is in place, will vary by state.
■ Credit bureaus have up to five days to place a freeze after receiving a written request. Your information may still be at risk during this time.
■ Credit bureaus have up to three business days to lift a credit freeze; this may be an issue if credit is needed immediately. Currently a few states such as Delaware and New Jersey have passed laws requiring the freeze to be lifted within 15 minutes of the request.
■ Each credit bureau requires a separate PIN to lift a credit freeze. If you lose your PINs, you will have to write to each CRA and provide proof of your identification to request a replacement PIN. A fee may be required in some states to replace the PIN.

Breaches can happen to any organization. That’s why it’s important for consumers to be vigilant about protecting their own information.  If you are an IDShield member, you have already taken one of the most important steps towards protecting your identity in the event of a data breach. As part of your IDShield services, you have unlimited consultation with experienced Kroll Investigators who can help determine if your information has been used fraudulently; and if it has, help you to restore your identity to pre-event status.

Do you have Identity Theft Protection?  Outstaffing offers employees a Legal Protection plan, composed of two components: LegalShield and IDShield.  Sign up for one, or both! Learn more, or sign up here.

Global Fraud & Risk Report, Annual Edition 2016/17, Kroll