January 2018 January was a busy month in the employee benefits world. On January 24, 2018, the U.S. Senate confirmed Alex Azar as the new Secretary of the U.S. Department of Health and Human Services (HHS). The U.S. Department of Labor (DOL) proposed regulations regarding association health plans. HHS released the 2018 federal poverty guidelines. […]
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Compliance Recap // June 2016
June was another quiet month for federal agencies in relation to employee benefits. A tri-agency proposed rule regarding expatriate health plans, excepted benefits, and essential health benefits was released. UBA Updates UBA’s Human Resources department released a checklist and advisor on new OSHA requirements: OSHA Reporting Changes: Employer Checklist OSHA’s Final Rule on Electronic Tracking […]
Read moreProposed Rule on Expatriate Health Plans, Excepted Benefits, and Essential Health Benefits
In a tri-agency proposed rule, the Department of Labor (DOL), Department of Health and Human Services (HHS), and Department of Treasury (Treasury) have published guidance discussing expatriate health plans (expat plans), excepted benefits, and essential health benefits (EHBs). Expatriate Health Plans The proposed rule would allow expatriate health plans, employers as sponsors of expatriate health […]
Read moreCompliance Recap // December 2015
2015 went out with a bang, as federal agencies and the White House issued a number of major delays relating to employee benefits. Most significantly, IRS reporting for the Patient Protection and Affordable Care Act’s play or pay requirement has been delayed, for both forms being sent to employees and forms being sent to the […]
Read moreOmnibus Bill Signed Into Law; Delays Cadillac Tax
President Obama has signed the omnibus legislation that includes the Consolidated Appropriations Act for 2016 and a tax extenders package. The agreement will keep the federal government running through September 2016. Within the legislation is language that significantly impacts provisions of the Patient Protection and Affordable Care Act (ACA), largely through delays of upcoming taxes. […]
Read moreGuest Blog – Three out of Four U.S. Employers To Be Hit with Cadillac Tax by 2022
Even Bronze-Level Plans Subject to Excise Tax, Finds UBA Survey Many employers falsely assume that the Cadillac tax will apply only to the richest plans. However, newly release data from the 2015 UBA Health Plan Survey shows that even the lowest quality “Bronze-level” health insurance plans on the Affordable Care Act (ACA) exchanges are at […]
Read moreCompliance Recap // July 2015
July brought the benefits industry increased fines relating to the Patient Protection and Affordable Care Act (ACA) as well as some much-anticipated updates and information on a variety of subjects. A trade bill passed in early July increased penalties for employers that fail to file IRS forms relating to the ACA’s play or pay provision, […]
Read moreIRS Issues Second Notice to Assist in Developing Cadillac Tax Regulations
The IRS has issued its second notice regarding the upcoming implementation of the Patient Protection and Affordable Care Act’s (ACA) excise tax on high cost employer-sponsored health coverage, also known as the “Cadillac tax.” Beginning in 2018, plans that provide coverage that exceeds a threshold will owe the tax. The threshold generally will be $10,200 […]
Read moreLast Chance to Register! Seats are filling up! Penalties, Taxes, and Fines, Oh My! Webinar
Benefit Insurance Marketing is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]
Read moreHRAs, HSAs, and Health FSAs – What’s the Difference?
Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has their own account, at least for bookkeeping purposes. Under the tax rules, amounts may be contributed to these accounts (with certain restrictions) and used for health care […]
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