Archive by tag: HRAReturn
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Last week, Senators Orin Hatch (R-UT) and Marco Rubio (R-FL) introduced the Health Savings Act of 2017, S.403. Companion legislation was introduced in the House of Representatives by Rep. Eric Paulsen (R-3rd MN). The legislation would expand the use of HSAs by broadening eligibility rules, increasing maximum contribution limits and widening the universe of expenses that could be reimbursed from HSAs. The legislation also contains provisions pertaining to the interaction between HSAs, FSAs and...
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Categories: Health Care Reform | Tags: HSA , HRA , FSA , Health Savings Accounts , Health Reimbursement Arrangements , Flexible Spending Accounts , Health Care Reform
The Department of Labor (DOL), Department of Health and Human Services (DHHS) and the Treasury Department recently issued FAQ guidance regarding HRA integration with non-HRA group health plans. The FAQs expand on existing guidance addressing how the Affordable Care Act’s (ACA) market reforms apply to HRAs.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HRA , Health Reimbursement Arrangement , ACA , Affordable Care Act , FAQ , IRS , DOL , HHS , DHHS
December 7, 2016 the Senate voted on H.R. 34, the "21st Century Cures Act". The measure passes with the majority 94-5, and includes bipartisan support.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: HRA , HR 34 , Cure Act , Health Reimbursement Arrangement

Most HRAs not Subject to ACA Reporting

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The reporting of an integrated HRA is required only for the participants that are not enrolled in the employer’s group medical plan and that HRA reimburses more than just dental or vision expenses.
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Categories: Health Care Reform, Compliance | Tags: HRA , 1095-B , 1095-C , IRS , ACA , Employer Reporting

IRS Announces New PCOR Fee

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IRS Notice 2016-64 provided the updated dollar amount to be used to calculate the PCORI fee for health policy and plan years that end on or after October 1, 2016 and before October 1, 2017. This includes 2016 calendar year plans, and the updated fee amount is $2.26 per covered life.
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Categories: Health Care Reform, Compliance | Tags: PCORI , HRA , IRS , Form 720 , ACA , Health Plan , Fee

Is Your HRA Ready for 2017?

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In preparing for the 2017 plan year, employers and plan sponsors should be aware of several important new rules pertaining to HRAs.
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Categories: Health Care Reform | Tags: HRA , ACA , Health Reimbursement Arrangement , Affordable Care Act

IRS and DOL Propose Form 5500 Revisions

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Just a few short weeks after the DOL announced the penalties will increase to $2,063 per day for failure to file Form 5500s, on July 21, 2016, the Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) (together called Agencies) will publish in the Federal Register a Notice of Proposed Forms Revisions to the Form 5500 Annual Return/Report Series.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , DOL , 5500 , Group Health Plans , FSA , HRA , HDHP

When is an Activity Tracker Medical Care?

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The Issue: How do you determine when or if an Activity Tracker (i.e. Fitbit) is eligible for pre-tax reimbursement under a flexible spending account (FSA), health reimbursement arrangement (HRA) or Health Savings Account (HSA)? Activity Trackers (i.e. Fitbit, etc.) are gaining popularity to help individuals maintain overall general health, as well participate in workplace wellness programs that reward healthy behavior for activity.
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Categories: Compliance, Health Care in General | Tags: Wellness , IRS , Medical Care , FSA , HRA , HSA

IRS Releases Updated Form 720 for PCOR Fees

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The Patient-Centered Outcomes Research (PCOR) fee is to fund research on patient outcomes. Employer sponsored health plan(s) are subject to PCOR fees). An employer that has a HRA that is integrated with a major medical plan will pay a PCOR fee on the HRA and the insurer will pay the PCOR fee on the insured plan. May 26, 2016, the IRS released a revision to the IRS Form 720 that can be used for the PCOR fees due by July 31, 2016.
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Categories: Health Care Reform, Compliance | Tags: PCOR , IRS , HRA

IRS Addresses Tax Treatment of Wellness Benefits

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Without the proper structure and plan design, cash rewards, including gym memberships, as well as premium reimbursements for participating in a wellness program may be considered taxable "wages" to employees.
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Categories: Compliance | Tags: IRS , wellness , wages , cash rewards , gym membership , HRA , Flexible Spending Account , Cafeteria Plan