Posts Tagged ‘51 cents’

5 HR and Benefit Changes Starting in 2011

With the new year nearly upon us, so too are changes in HR and benefits that will go into effect. Here’s a quick rundown of 5 to watch out for:

  1. Starting Jan. 1, 2011, flexible spending accounts will no longer be able to reimburse participants for expenditures on over-the-counter medications and items such as bandages and aspirin.
  2. Also on the health care front, insurance plans with a Jan. 1, 2011 plan year date will have to allow parents to keep a child on their policy until the child’s 26th birthday. This provision of the health care reform law took effect on Sept. 23 of this year, but now becomes a requirement for the 2011 plan year starting tomorrow. (Separately, employers may voluntarily report the value of health benefits they provide on 2011 W-2s; they will have to starting in 2012. The amount reported is not considered taxable income).
  3. Starting on Jan. 1, the standard mileage rate for the use of a car, van or pickup will be 51 cents per mile for business miles driven, up from 50 cents in 2010.
  4. Effective January 1, 2011, Colorado’s minimum wage will increase to $7.36 per hour, up from the 2010 rate of $7.24 per hour. Also, the tipped employee wage will rise to $4.34 per hour, up from the current $4.22 per hour.
  5. Starting in 2011, employers in California will begin filing Unemployment Insurance, Employment Training Tax, State Disability Insurance contributions, and Personal Income Tax withholdings quarterly on the DE 9 instead of annually on the Annual Reconciliation Statement (DE 7). Find out more at the Employment Development Department website.

Happy 2011!