Archive by month: 2018-4Return
RSS

Form 5500 Filing Tips-Who, When, What, How

posted on
The Form 5500 is an ERISA requirement for all health and welfare plans. All private sector employers, including corporations, s corporations, LLCs, sole proprietorship, partnerships, and non-profits that sponsor insured self-insured plans subject to ERISA have a filing requirement if they are large plans with 100 or more participants in the plan as of the first date of the plan year.
Read More
Categories: Benefits in General, Compliance | Tags: Form 5500 , IRS , EFAST2 , Wrap Plans , Health Care FSA , HRA , Insured Plans , 5500 Preparation , ERISA
In follow up to our earlier post in March regarding the HSA Maximum Family Contribution change, we want to provide some new information based upon an IRS Revenue Procedure released April 26, 2018.
Read More
Categories: Benefits in General, Compliance, Health Care in General | Tags: IRS , Revenue Procedure 2018-27 , HSA , Health Savings Account , Family Contribution Limit

When Do Adult Children Lose Health Coverage?

posted on
This is a multi-faceted answer depending upon the coverage type. Effect March 30, 2010, the Affordable Care Act (ACA) mandated that group health insurance plans provide coverage for employees’ children up to the age of 26.
Read More
Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Adult Child , Code Section 105(b) , COBRA , Permitted Election Change , Loss of Coverage , Age 26 , Parent's Health Plan
Health Insurance Portability and Accountability Act (HIPAA) Special Enrollment Rights provide the ability to add an individual to a group health plan without regard to prior health history when certain events occur (i.e. loss of coverage, marriage, birth, adoption, placement for adoption).
Read More
Categories: Benefits in General, Compliance | Tags: HIPAA , HIPAA Special Enrollment Rights , HCFSA , Health Care Flexible Spending Accounts , Change of Election
As the April 17th income tax deadline* quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, health care flexible spending accounts (HCFSA), dependent care flexible spending accounts (DCFSA) and health savings accounts (HSA) should keep a few things in mind.
Read More
Categories: Benefits in General, Compliance | Tags: IRS , Tax Day , DCFSA , HCFSA , Dependent Care FSA , Health Care FSA , HSA , Health Savings Account , Form 8889 , Form 2441 , Form 1095-B , Form 1095-C , April 15th , April 17 , 2018 , Personal Tax Return

Summary Plan Description: Paper or Electronic?

posted on
Department of Labor (DOL) regulations describe when an employer can distribute benefit information including the Summary Plan Description (SPD), Summary of Annual Report (SAR), Summary of Benefits and Coverage (SBC), and other required benefit notices (i.e. Medicare Part D, Women’s Heath and Cancer Rights Act, Privacy Notices, etc.) electronically to plan participants.
Read More
Categories: Benefits in General, Compliance | Tags: SPD , DOL , Summary Plan Description , Department of Labor , Electronic Distribution , Safe Harbor , Thomas v. CIGNA Group Ins , SAR , SBC , Employee Notices