During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to […]
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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 […]
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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 moreCompliance Recap // January 2016
January was a very quiet month for compliance, on the heels of the multitude of delays that came at the end of December 2015. The IRS updated its FAQs related to 6055 and 6056 reporting under the Affordable Care Act (ACA). UBA Guides and Compliance Documents UBA updated the popular “Play or Pay Penalty and […]
Read moreBenefits and Employment Briefing // Fall 2015
The Surprising Compliance Issues of High Deductible Health Plan/Health Savings Account Arrangements As the Patient Protection and Affordable Care Act (ACA) comes into complete fruition, many employers are offering to employees High Deductible Health Plans (HDHPs) and facilitating the establishment and funding of Health Savings Accounts (HSAs). Read more ACA Cadillac Tax: IRS Issues […]
Read moreCompliance Recap // August 2015
August was a generally slow month with a few important updates for the benefits industry. Notably the Internal Revenue Service (IRS) issued draft instructions for its reporting forms relating to the Patient Protection and Affordable Care Act’s (ACA) employer-shared responsibility requirements. The draft instructions, although generally unremarkable, did contain new language regarding reporting on health […]
Read moreU.S. Supreme Court Finds Same Sex Marriage Is Protected
The Supreme Court ruled in Obergefell v Hodges, that the 14th Amendment requires a state to license a marriage between two people of the same sex, and to recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out of state. The decision was reached 5-4. Justice […]
Read moreDon’t Roll the Dice on Department of Labor Audits!
Surviving a DOL Audit: Not a Matter of “If” but “When”As the likelihood of an audit from the U.S. Department of Labor increases, our new white paper can help you prepare. With it you’ll: · Learn how to audit-proof your company · Avoid the worst mistakes you can make · Take the first three critical […]
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 […]
Read moreCost Sharing Limits Changing for 2016
In the Benefit and Payment Parameters for 2016 Final Rule issued in February of 2015, federal agencies included a clarification that annual cost-sharing limitations for self-only coverage apply to all individuals, regardless of whether the individual is covered by a self-only plan or is covered by another kind of plan. Cost sharing refers to out-of-pocket […]
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