
Articles
2015 HSA Contribution Limits
Tuesday, April 29, 2014
The IRS recently released Rev. Proc. 2014-30, which establishes the health savings account (HSA) contribution limits and definition of a qualified high deductible health plan (HDHP) for the 2015 calendar year.
2015 annual contribution limit:
Elimination of Small Group Deductible Limit
Wednesday, April 9, 2014
On April 1, 2014, the President signed into law the Protecting Access to Medicare Act of 2014. The bulk of the provisions relate to Medicare; however, the law also contained a provision repealing the limitation on deductibles that applied to fully-insured small group plans under the Affordable Care Act (ACA).
Health FSA Carryovers – HSA Eligibility
Sunday, April 6, 2014
The IRS released guidance March 28, 2014, regarding to the health flexible spending account (FSA) carryover (up to $500) and health savings account (HSA) eligibility. The guidance clarifies methods under which an employer may implement the carryover provision, first introduced under guidance provided in 2013, while allowing individuals to maintain eligibility for HSA contributions.
Background
IRS Issues Final ACA Employer Reporting Rules
Wednesday, March 19, 2014
The IRS has released final regulations regarding important new employer reporting requirements contained in the Affordable Care Act (ACA). The ACA requires applicable large employers (as defined by the ACA) to provide new health plan reporting to the IRS beginning in 2016. The IRS previously released proposed reporting rules in September 2013 and requested comments on a number of issues. These final regulations provide some simplification of the requirements and address a number of questions left unanswered in the proposed regulations.
Business Auto Policy Considerations
Tuesday, March 18, 2014
The following are general guidelines to be considered when establishing a corporate auto policy. These comments are meant for use as a reference only. All policies should be reviewed by corporate counsel prior to implementation. Please discuss any questions or concerns regarding your particular policy with your, Parker, Smith & Feek Account Advisor.
Establish a Fleet Safety Policy
Employer Shared Responsibility Final Regulations – Transitions Rules and Other Important New Guidance
Monday, March 3, 2014
The recently released IRS final regulations on the Affordable Care Act (ACA) 4980H employer shared responsibility rules (often called the pay or play rules) largely formalized the rules previously described in proposed regulations originally released in January 2013.
However, the new rules contain some clarification and significant new guidance in two principal areas: transition rules, including a delay in enforcement for smaller employers, and details related to defining full-time employees.
Final Rules on Waiting Periods & HIPAA Certificates of Creditable Coverage
Thursday, February 27, 2014
This week, final rules were released regarding the ACA prohibition on waiting periods exceeding 90 calendar days and the retirement of the HIPAA Certificate of Creditable Coverage. The final rules formally adopt the proposed regulations in regard to waiting periods provided in March 2013, and, in a new development, recognize a one-month orientation period to be allowed before the start of the waiting period.
FINAL RULES – Employer Shared Responsibility Rules
Wednesday, February 12, 2014
The IRS has released final regulations in regard to the employer shared responsibility rules set forth under section 4980(H) of the Affordable Care Act (ACA). In addition to formally adopting many of the proposed regulations that were provided back in January 2013 (e.g. the optional look-back measurement method), the final rules also provide several clarifications and amendments, including various transition relief provisions.
W-2 Health Insurance Reporting Review
Tuesday, January 7, 2014
It’s that time of year again, and large employers need to remember to include the cost of health insurance in employee W-2s. The ACA requires employers to report the “aggregate cost” of certain types of employer provided health coverage on an employee’s W-2. The reporting requirement does not affect the tax status of the benefits, but was designed to assist in collecting the data necessary to administer various provisions of the ACA. The reporting requirement has been delayed by the IRS for small employers.
Final Mental Health Parity Regulations Released
Thursday, January 2, 2014
The DOL, IRS and HHS jointly released final rules regarding the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). For those group health plans offering both medical/surgical benefits and mental health (MH) or substance abuse (SA) benefits, the plans must provide MH and SA benefits at least equal (“in parity”) to the medical/surgical benefits provided.
Excepted Benefits Rules Changed
Sunday, December 29, 2013
The Departments of the Treasury, Labor, and HHS (the Departments) have released proposed rules that would amend regulations regarding excepted benefits. Excepted benefits are generally exempt from the requirements of the Health Insurance Portability and Accountability Act (HIPAA) and the Affordable Care Act (ACA). The proposed rules address the requirements necessary for dental and vision plans, and Employee Assistance Plans (EAPs), to be treated as excepted benefits.
IRS Issues Guidance on Same-Sex Spouses in Cafeteria Plans and HSAs
Monday, December 23, 2013
Notice 2014-1 acknowledges that the tax rules for same-sex spouses are the same as for opposite-sex spouses. Calendar year cafeteria plans have a limited time to make any new changes as a result of this guidance for 2013.
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