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Wednesday, November 20, 2013
According to Affordable Care Act (ACA) regulations, if employer-sponsored group health coverage is affordable’ (based on the employee cost for employee-only coverage), then employees, and any of their dependents who are eligible for the plan, are not eligible for subsidies when purchasing individual coverage through a public Marketplace (Exchange).
Tuesday, November 5, 2013
The IRS has issued Notice 2013-71 which modified the §125 Health Flexible Spending Account (HFSA) ‘use-or-lose’ rule to permit up to $500 of unused HFSA account balance to be carried over to the following plan year. HFSAs can offer the current 2½ month grace period, or the new $500 carryover option, but not both.
Thursday, September 19, 2013
The DOL recently issued Technical Release 2013-03 which answers a question that has been unclear since the Affordable Care Act (ACA) was passed. Can employers pay for the purchase of individual health insurance plans for employees on a tax-free basis? The DOL’s answer to this question is no.
Wednesday, September 18, 2013
The IRS has released proposed rules related to Affordable Care Act (ACA) employer and insurance carrier reporting requirements. The ACA created two new sections in the Tax Code, section 6055 and 6056.
Tuesday, September 17, 2013
As you may recall, with the introduction of Medicare Part D prescription drug benefits, the Centers for Medicare and Medicaid Services (CMS) imposed certain notice requirements on employers. Employers are required to notify all Medicare beneficiaries of the “creditable” or “non creditable” coverage status of their prescription drug plan.
Friday, September 6, 2013
The IRS has issued guidance clarifying the tax treatment of employee benefits provided to same-sex married couples. Prior to the Supreme Court’s DOMA ruling, employers who chose to offer benefits to same-sex spouses were generally required to treat the benefits provided to those spouses as taxable income to the employee.
Wednesday, September 4, 2013
The ACA requires that employers provide employees with a written notice containing the information regarding exchanges and possible subsidies when purchasing individual coverage through a public exchange. Originally the ACA required the notice be provided to employees by March 1, 2013; however, the DOL issued guidance delaying the notice requirement.
Tuesday, August 13, 2013
Beginning in 2014 the Affordable Care Act (ACA) requires that all health plans limit participant out-of-pocket (OOP) maximums. The OOP maximum includes deductibles, coinsurance, copayments, and any other required participant expenditure for essential health benefits covered under the plan.
Wednesday, July 3, 2013
In the most significant health reform development for employers since the passage of the Affordable Care Act (ACA), the employer shared responsibility rules (often called the “employer mandate” or “pay or play rules”) have been delayed until 2015.
Monday, July 1, 2013
The recent Supreme Court decisions on same-sex marriage obviously have significant implications for employers in a number of employee-related areas including payroll, retirement and employee benefits. While much has already been written in general about these decisions, this issue brief will focus only on issues related to employer-sponsored health and welfare plans.
Monday, June 10, 2013
The IRS has issued a revised Form 720 and corresponding instructions to allow for the reporting and payment of the fee for the Patient-Centered Outcomes Research Institute (PCORI) formed as part of the Affordable Care Act (ACA).
Thursday, June 6, 2013
The Departments of Health and Human Services, Labor, and Treasury (The Departments) have issued final wellness program rules. The new final rules are based on the existing HIPAA wellness rules and the requirements contained in proposed rules issued in November 2012.