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On June 13, 2019, the U.S. Departments of Health and Human Services, Labor and the Treasury issued a final rule allowing employers of all sizes to offer two new kinds of health reimbursement arrangements (HRAs) beginning in January 2020. The two new HRAs include: individual coverage HRAs (ICHRA) and excepted benefit HRAs (EBHRA) Further, proposed regulations were released last week specific to how the Employer Shared Responsibility under the Affordable Care Act (ACA) and nondiscrimination tes...
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: ICHRA , Proposed Regulations , Employer Shared Responsibility , Pay or Play , Nondiscrimination Testing , HRA
July 17, 2019, the Internal Revenue Service released Notice 2019-45, which for purposes of HSAs, provides a list of medical care expenses that may be treated as preventive care benefits under a high deductible health plan (HDHP). As a result of this Notice, preventive care has been expanded to include care for certain chronic medical conditions.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HSA , Health Savings Account , Preventive Care , Chronic Care , Chronic Medical Conditions , Section 223 , IRS Notice 2019-45 , Executive Order , Treasury Department , IRS

Final HRA Regulations Released

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On June 13, 2019, the U.S. Departments of Health and Human Services, Labor and the Treasury issued a final rule allowing employers of all sizes to offer two new kinds of health reimbursement arrangements (HRAs). The two new HRAs made available include (1) individual-coverage HRAs (ICHRA) and (2) excepted-benefit HRAs. These new HRAs must meet certain conditions and may be offered to employees on or after January 1, 2020. The departments also posted FAQs on the new rule that include a Q & A as we...
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HRA , ICHRA , Excepted-benefit HRA , Individual-coverage HRA , HRA Final Regs , HRA Final Regulations , 1/1/2020

IRS Releases Updated Form 720 for PCOR Fees

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The IRS has released a revision to IRS Form 720 and Form 720 Instructions, which is to be used for the PCOR fees due July 31, 2019.
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Categories: Health Care Reform, Compliance | Tags: PCOR , PCOR fee , Patient-Centered Outcome Research Fee , July 31 , IRS Form 720 , HRA

Debit Cards: To Swipe or Not To Swipe

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The IRS has specific rules about when and how debit cards can be used for FSAs, HRAs and HSAs, which can cause confusion for card holders. We will answer some frequently asked questions on where cards can be used, on what purchase can be made, and more.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Medical , Debit Cards , FSA , HSA , HRA , Medical Expenses , OTC Drugs
As the April 15th 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), or health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HCFSA , HSA , DCFSA , Dependent Care Flexible Spending Accounts , Health Savings Accounts , Health Flexible Spending Accounts , IRS Form 2441 , IRS Form 8889 , W-2 , IRS , Income Tax Deadline , April 15th , 2018 tax deadline , IRS Form 1099-SA
The IRS has published new versions of various forms and instructions used by taxpayers to assist them in preparing their 2018 income tax returns.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HSA , Health Savings Account , Form 8889 , Schedule 1 , Schedule 4 , Form 1040 , IRS , 2018 tax filing , penalty
The IRS recently released Notice 2018-94, which provides a 30 day extension to the deadline for Applicable Large Employers (ALE) to distribute the 2018 Affordable Care Act (ACA) reporting forms to employees an covered individuals.
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Categories: Health Care Reform, Compliance | Tags: IRS Notice 2018-94 , Employer reporting extension , 2018 ALE reporting extension , Form 1095-C , Form 1095-B , IRS
Today the IRS officially announced under Revenue Procedure 2018-57, the 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules, and other tax changes. Included in the announcement is the inflation adjusted 2019 limits for Health Care flexible spending accounts (FSA) under an IRC Section 125 cafeteria plan and the Parking and Transit account limits under and IRC Section 132 Transportation Plan.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Revenue Procedure 2018-57 , Health FSA Limit 2019 , Transportation Plan Limits 2019

IRS Announces PCOR Fee Adjustment

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IRS Notice 2018-85 provides the updated dollar amount to the be used to calculate the PCORI fee for health plan policy and plan years that end on or after October 1, 2018 and before October 1, 2019. This includes the 2018 calendar year plans, and the updated fee amount is $2.45 per covered life.
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Categories: Health Care Reform, Compliance | Tags: PCOR , PCORI , PCOR Fee , Patient Centered Outcome Research Institute , Form 720
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