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In December 2019, the Further Consolidated Appropriations Act, 2020 was signed. Among many provisions was an extension of the tax used to fund the Patient-Centered Outcomes Research Institute. This tax was first applicable in 2013 and the final tax filings were scheduled for 2020. With this extension, plans will now be responsible for this tax and filing for an additional 10 years, up to 2030.
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Categories: Health Care Reform, Compliance | Tags: Further Consolidated Appropriations Act 2020 , HR 1865 , PCOR Fees , Patient-Centered Outcomes Research Institute
Late Friday, President Trump signed the Further Consolidated Appropriations Act (“Act”), 2020 (H.R. 1865) which includes many provisions, most notably the repeal of the Cadillac Tax. The Cadillac Tax was a provision included in the Affordable Care Act which imposed a tax on health plans if the value of the employer-sponsored health coverage exceeded a specified threshold. Employers sponsoring plans that risked surpassing that threshold would likely have cut their benefits to avoid the Cadillac...
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Categories: Health Care Reform, Compliance | Tags: Further Consolidated Appropriations Act , Cadillac Tax , Repeal , Transportation Benefits , H.R. 1865
The IRS has issued the final 2019 forms 1094-B, 1095-B, 1094-C and 1095-C along with instructions. These forms will be used by employers, plan sponsors and group health plan insurers to report coverage to plan members and the IRS. This reporting is required by the Affordable Care Act. The deadline to provide notice to individuals on 1095-B or 1095-C has been extended from January 31, 2020 to March 2, 2020. In addition, the IRS has issued transitional good-faith relieve from section 6721 and 6722...
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Categories: Health Care Reform, Compliance | Tags: Notice 2019-63 , Form 1094-B , Form 1094-C , Form 1095-B , Form 1095-C , Employer Reporting , ALEs , Applicable Large Employers , Minimum Essential Coverage , MEC , 6055 , 6056
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
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