The final rule regarding HRA expansion was released and scheduled to take effect for plan years beginning on or after January 1, 2020. The rule was in response to the October 12, 2017 executive order issued by President Trump to prioritize near-term improvement: association health plans (AHPs), short-term, limited-duration insurance (STLDI), and health reimbursement arrangements.Continue reading “A Detailed Look at Considerations for the New HRA Options”
Category Archives: Uncategorized
ACA Affordability – Managing Risk
Submitted by Ken Stevenson, Vice President of Employee Benefits at Earl Bacon Agency Beginning with Plan years that started in 2015 Applicable Large Employers (50 or more fulltime employees including equivalents in the PRECEDING calendar year) had to concern themselves with a little thing called the “Affordability Threshold”. The original Affordability Threshold was 9.5%. NotContinue reading “ACA Affordability – Managing Risk”
Update on the Women’s Contraceptive Coverage Regulations
Submitted by Carol Taylor, Account Executive and Compliance Officer, Kirby Employee Benefits, Jupiter, FL Since the passage of the Affordable Care Act in 2010, the coverage for preventive care has been a changing landscape. There have been numerous changes to the U.S. Preventive Services Task Force ratings for A & B recommended evidence-based items orContinue reading “Update on the Women’s Contraceptive Coverage Regulations”
HRA Expansion: An In-Depth Look at the Proposed Rule
Submitted by Annette Bechtold, Senior Vice President of Regulatory Affairs and Reform Initiatives for OneDigital In response to President Trump’s October 12, 2017 Executive Order, the Departments of Health and Human Services, Treasury and Labor issue the proposed rule expanding Health Reimbursement Arrangements. This third and final rule aims to provide employers with additional optionsContinue reading “HRA Expansion: An In-Depth Look at the Proposed Rule”
HHS Adjusts Civil Monetary Penalties
Submitted by Compliance Committee Chair Joan Fusco, Chief Compliance Officer at Savoy Associates HHS has announced annual adjustments of civil monetary penalties. The latest adjustments are based on a cost-of-living increase of 2.04%. Here are the highlights: HIPAA Administrative Simplification. HIPAA administrative simplification encompasses standards for privacy, security, breach notification and electronic healthcare transactions. TheContinue reading “HHS Adjusts Civil Monetary Penalties”
IRS Releases 2019 Tax Limits
The IRS has provided tax inflation adjustments for tax year 2019: The dollar limit on employee salary reduction contributions to health FSAs will be $2,700 (up from $2,650 in 2018). The maximum amount of payments and reimbursements under a QSEHRA will be $5,150 for self-only coverage and $10,450 for family coverage (up from $5,050 andContinue reading “IRS Releases 2019 Tax Limits”
Sometimes A Lack of Regulation Creates Problems
Typically, when the federal government announces that it won’t be seeking regulatory action any time soon, both brokers and employer group plan sponsors rejoice. However, in this case, a lack of federal regulatory activity may cause headaches for companies that offer certain kinds of wellness programs, and their advisors. Two federal wellness program regulations fromContinue reading “Sometimes A Lack of Regulation Creates Problems”
IRS Publishes 2018 ACA Employer Reporting Forms and Instructions
Breathe a sigh of relief that the newly published 2018 forms and instructions for employer ACA reporting include no substantive changes. As a result, employers will have a relatively easy time following the now-established routine for the forms. But, the few cosmetic changes to the forms won’t stifle the sighs – or groans – ofContinue reading “IRS Publishes 2018 ACA Employer Reporting Forms and Instructions”
Flexible Spending Accounts – Different Strokes for Different Plans
Flexible spending accounts (FSAs), also called Section 125 plans after the relevant section of the Internal Revenue Code, are commonplace benefits. But, perhaps because they are common, some employers and employees don’t understand some of the regulations that apply to these plans. IRS Publication 969 titled “Health Savings Accounts and Other Tax-Favored Health Plans” isContinue reading “Flexible Spending Accounts – Different Strokes for Different Plans”
Caution if Offering Health Coverage to Non-Employees
A frequent Compliance Corner question asks whether employers can include independent contractors in their health plans or other benefits. The answer to this question is more complicated than one might think. Most benefit experts advise against including independent contractors or other non-employees such as 1099 employees, non-employee directors or leased employees on employer’s benefit plans.Continue reading “Caution if Offering Health Coverage to Non-Employees”
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