Maryland Law Jeopardizes the Benefits of Health Savings Account Plans in Maryland

Maryland law, effective January 1, 2018, requires Maryland health plans to cover 100% of the cost of male sterilization, which is in direct conflict with high deductible health plans (HDHPs).  HDHPs have a higher annual deductible than typical health plans. 

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Maryland Healthy Working Families Act

As of February 11, 2018, employers are required to accrue “sick and safe leave” for all covered employees.  Covered employees are defined as those who regularly work 12 or more hours per week.  Employers with 15 or more employees must provide paid leave, while employers with 14 or fewer employees must provide unpaid leave.  Sick and safe leave accrues at a rate of at least one hour for every 30 hours worked, with a cap of 40 hours of earned leave in a year.  Employers that have an existing PTO policy that provides leave in an amount equal to or greater than the amount that is provided for under the law do not have to provide additional leave.

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BGH Highlights of the Tax Cuts and Jobs Act

On December 22, 2017 the President signed into law H.R. 1, officially titled ‘An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018’, but politicians and commentators are calling it the Tax Cuts and Jobs Act. The new law overhauls the Internal Revenue Code by lowering tax rates, eliminating numerous tax provisions, and creating several new provisions. Below is a brief summary of the Tax Cuts and Jobs Act.

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The Cultural Alliance of Greater Washington has worked with Bormel, Grice & Huyett, P.A., since 1988. Their knowledge of the arts and the arts community make their services invaluable. They can translate accounting terminology into a comprehensive language. For many organizations, the accounting firm of Bormel, Grice & Huyett provides the financial "information bridge." We whole-heartedly recommend Bormel, Grice & Huyett, excellent accountants who care about our arts organizations.
Jennifer Cover Payne, Executive Director, Cultural Alliance of Greater Washington

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