Articles
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.
Affordable Care Act Update: 2014 Seminar
Wednesday, December 4, 2013
It is important for Parker, Smith & Feek to break through the rhetoric and help businesses large and small fully understand and comply with the Affordable Care Act (ACA). That’s why we brought in Bob Radecki, the expert we go to when we have complicated ACA questions. After a brief introduction, Radecki, President of Benefit […]
Online Enrollment in Federal SHOP Exchange Delayed One Year
Tuesday, December 3, 2013
The Department of Health and Human Services (HHS) has announced a one year delay of online enrollment for small businesses purchasing group health coverage through the Federal SHOP Marketplace (Exchange). The delay does not affect small group plans offered through a state run SHOP. See below for a list of states operating their own Marketplace not subject to the delay.
Marketplace (Exchange) Subsidies for Adult Children
Wednesday, November 20, 2013
According to Affordable Care Act (ACA) regulations, if employer-sponsored group health coverage is affordable’ (based on the employee cost for employee-only coverage), then employees, and any of their dependents who are eligible for the plan, are not eligible for subsidies when purchasing individual coverage through a public Marketplace (Exchange).
Modification of “Use-or-Lose” Rule for Health Flexible Spending Accounts
Tuesday, November 5, 2013
The IRS has issued Notice 2013-71 which modified the §125 Health Flexible Spending Account (HFSA) ‘use-or-lose’ rule to permit up to $500 of unused HFSA account balance to be carried over to the following plan year. HFSAs can offer the current 2½ month grace period, or the new $500 carryover option, but not both.
Guidance Issued on HRAs, FSAs, and Premium Reimbursement Plans
Thursday, September 19, 2013
The DOL recently issued Technical Release 2013-03 which answers a question that has been unclear since the Affordable Care Act (ACA) was passed. Can employers pay for the purchase of individual health insurance plans for employees on a tax-free basis? The DOL’s answer to this question is no.
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