Effective July 1, 2014 – in Indiana – an officer of a corporation CAN NOW elect to be excluded from workers compensation coverage. An officer exclusion form needs to be completed and forwarded to the insurance carrier. If the policy is currently in force, an exclusion form can be completed and the officer will be excluded effective July 1, 2014.
Unprecedented FUTA Tax Increases May Apply in 2014
The Federal Unemployment Tax Act (FUTA) tax rate is normally 0.6% of wages paid up to a limit of $7,000 per worker, or $42 per employee per year. However, employers in as many as 13 states and the U.S. Virgin Islands may pay an increased FUTA tax rate in January 2015, based on FUTA taxable wages paid in the affected jurisdictions during 2014.
The Indiana Department of Workforce Development provides the Unemployment Insurance poster, free of charge. You may download it from this website. For your convenience many other required posters can also be downloaded from this site.
Sponsors of group health plans that provide prescription drug coverage…
Sponsors of group health plans that provide prescription drug coverage must notify Medicare-eligible participants and beneficiaries as to whether the drug coverage offered is “creditable” or “non-creditable” prior to October 15th.