On Friday, December 22, 2017, the IRS extended the 2018 due for Applicable Large Employers (ALEs) to furnish 2017 health coverage forms (Forms 1095 C/B) to individuals. Employers now have until March 2, 2018 to provide these forms. This is a 30 day extension from the original due date of January 31, 2018. As a […]
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“Paper Cuts Don’t Scare Me” and Other HR Mantras
One of the inconvenient truths about HR is that, even in this modern age, there is a lot of paperwork. And a lot of rules about how long employers need to retain said paperwork. Let’s break down some of the most common records and how long you need to keep fighting the paper cut monster […]
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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, Fisher Phillips. Best of all, you can take […]
Read moreCompliance Recap // February 2017
February had relatively little activity in the employee benefits world because a new Secretary of the Department of Health and Humans (HHS) was recently confirmed and HHS started its rulemaking under the new administration. On February 10, 2017, the U.S. Senate confirmed Rep. Tom Price as the new Secretary of HHS, who has a budget […]
Read moreCompliance Recap // January 2017
January was a significant month in the employee benefits world because the new U.S. administration issued an Executive Order announcing its intent to repeal the Patient Protection and Affordable Care Act (ACA). However, January was a relatively inactive month for new laws and administrative rulemaking because the new administration placed a freeze on rulemaking until […]
Read moreIRS Memo on Fixed Indemnity Health Plan Benefits Tax Treatment
On January 20, 2017, the IRS released a Memorandum on the tax treatment of benefits paid by fixed indemnity health plans that addresses two questions: Are payments to an employee under an employer-provided fixed indemnity health plan excludible from the employee’s income under Internal Revenue Code §105? Are payments to an employee under an employer-provided […]
Read moreSame-Sex Marriages and Group Health Benefits
From 2013 to 2015, a series of Supreme Court cases and government updates have changed the landscape of the way employers must consider same-sex spouses in relation to employee benefits. Most recently, in June 2015, the Supreme Court ruled in Obergefell v. Hodges, that the 14th Amendment requires a state to license a marriage between […]
Read moreIRS Provides Process to Address Retroactive Increase in Excludable Transit Benefits
On December 19, 2014, the Tax Increase Prevention Act of 2014 (TIPA) became law. TIPA included a retroactive increase for 2014 in the amount of transit benefits an employee could exclude from income, whether those benefits are paid directly by the employer or by the employee on a pre-tax basis. Prior to the retroactive TIPA […]
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