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With open enrollment fast-approaching for many employers, it is a good time to review what employer notices and materials are required for distribution at open enrollment as well as other times throughout the year. Some employer notices are only provided when participants first become covered under a health and welfare plan and others have an annual distribution requirement. Make sure you are providing all required notices at open enrollment.
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Categories: Benefits in General, Compliance | Tags: Notice , Compliance , Benefits , SPD , SMM , SBC , SAR , Medicare Part D , Notice of Creditable Coverage , COBRA , HIPAA , CHIP , WHCRA , Wellness , ADA , Grandfathered Plan , Michelle's Law

Deadline Approaching for Medicare Part D Notice

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Annually, employers who offer prescription drug coverage are responsible for providing notice to their Medicare-eligible plan participants (employees, former employees, and covered dependents) regarding the creditability status of their prescription drug coverage. This notice is required prior to the start of the Medicare Part D annual enrollment period, no later than October 14, 2020.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Medicare Part D , Certificate of Creditable Coverage , Non-Creditable Coverage , CMS , HRA , FSA , HSA , Notice Requirement
As the July 15th income tax deadline quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, Health Care Flexible Spending Accounts (FSA), Dependent Care Flexible Spending Accounts (FSA), or health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Health Care Reform, Compliance | 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 , IRS Form 5498-SA , IRS Notice 2020-35
While the recent focus of many organizations has been on impact to benefits based on the COVID-19 pandemic, other significant updates been released. Review this article to be sure you are staying up-to-date with other guidance, including COBRA Notices, HSA limits, and PCOR fee requirements.
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Categories: Benefits in General, Compliance | Tags: HSA , Health Savings Account , 2021 Limits , Rev. Proc. 2020-32 , PCOR fee , Patient Centered Outcome Research Fee , July 31 , IRS Form 720 , COBRA Model Notices

IRS Releases Cafeteria Plan Relief

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On Tuesday, May 12th, the IRS released a pair of notices that affect cafeteria plans and flexible spending accounts (FSAs). These notices give employers the opportunity to add extended grace periods to FSAs, increase the maximum rollover amount on Health Care FSAs, and/or allow their participants to make mid-year cafeteria plan election changes if their needs change during the pandemic.
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Categories: Benefits in General, Compliance | Tags: IRS Notice 2020-29 , IRS Notice 2020-33 , Permitted Election Changes , Cafeteria Plans , Health Care FSA , Dependent Care FSA , Grace Period , Rollover , Amendments
The deadline for certain Form 5500 filings has been extended related the COVID-19 pandemic.
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Categories: Compliance | Tags: Form 5500 , Notice 2020-18 , Form 5558
The IRS has issued Notice 2020-15, which provides relief for testing and treatment for the 2019 Novel Coronavirus (COVID-19) from being disqualifying coverage for eligibility to contribute to a Health Savings Account. Health Plans are permitted to offer these services before the minimum High Deductible Health Plan deductible has been satisfied.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , HDHP , High Deductible Health Plan , COVID-19 , Coronavirus , Notice 2020-15
Entities that provide prescription drug coverage to Medicare Part D eligible individuals must disclose to Centers for Medicare & Medicaid Services (CMS) whether the coverage is "creditable prescription drug coverage".
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Categories: Compliance, Health Care in General | Tags: CMS , Creditable Coverage , March 1st , Disclosure , Medicare Part D Notice
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

IRS Announces 2020 Pension Plan Limitations

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Today, the IRS issued Notice 2019-59, announcing the cost of living adjustments for pension plans and other retirement-related items for the tax year 2020. Review our summary for some of the more notable changes.
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Categories: Benefits in General, Compliance | Tags: IRS , Pension Plans , 2020 Limits , IRS Notice 2019-59 , Highly Compensated Employee , Key Employee , Nondiscrimination Testing , IRA , 401k , 457 , 403(b) , Roth IRA
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