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The IRS requires that any organization that offers a cafeteria plan (or in other words, a pre-tax benefit plan) must perform various tests on the plan annually at the end of each plan year to determine if the plan is nondiscriminatory. In other words the plan cannot favor highly compensated employees.
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Categories: Benefits in General, Compliance | Tags: IRS , Nondiscrimination Testing , Key Employees , Highly Compensated Employees , Non-Highly Compensated Employees , FSA , Premium , Cafeteria Plan
On July 23, H.R.6199 Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 and H.R.6311 Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018 were approved 8-4 in a party line vote by the House Rules Committee. During the proceedings, 2 amendments were offered and both failed. Consequently, the two bills moved on to the House floor. On July 25th under a closed-rule process, the H.R.6199 vote passed with bipartisan support in a 27...
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HR 6311 , HR 6199 , HSA , FSA , HRA , House , Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 , Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018

Consumer Driven Health Care Activity on the Hill

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The House Ways and Means Committee marked up several bills mid-July that would raise contribution limits for health savings accounts (HSAs) and expand the allowable uses of these accounts, at a cost of $41 billion over ten years, the Joint Committee on Taxation (JCT) estimates. Collectively all the bills would cost an estimated $92 billion over the next ten years.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HSA , Health Savings Accounts , FSA , Flexible Spending Account , OTC , Internal Revenue Code , Medicare and HSA eligibility , Premium Tax Credit , Medical Device Tax , Cadillac Tax , IRS , ACA , HDHP

HHS Releases 2019 Proposed ACA Regulations

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HHS has recently released proposed regulations that include the benefit and payment parameters for 2019, and other proposed insurance market and Exchange-related rules. This information is of most interest to insurance carriers and states, that run their own Exchanges, however some of the details will be of interest to employers.
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Categories: Health Care Reform, Compliance | Tags: ACA , SHOP , MOOP , EHB , SEP , Exchange , Premium Tax Credit
Final regulations relating to the premium tax credits for eligible individuals who enroll in the Marketplace coverage were released by the IRS on December 19, 2016.
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Categories: Health Care Reform, Compliance | Tags: ACA , IRA , IRS , Opt-Out Payments , Premium Tax Credit
The IRS recently issued three Information Letters that confirm three fundamental rules pertaining to reimbursements made to participants in a Code Section 125 cafeteria plan.
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Categories: Compliance | Tags: IRS , FSA , Premium

Transition Relief Running Out for Small Employers

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Small employers that have continued to reimburse or pay for their employees’ individual medical plan premiums must stop doing so no later than June 30, 2015 or face severe excise tax penalties. The transitional relief granted by the IRS for doing so expires at the end of this month.
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Categories: Health Care Reform, Compliance | Tags: IRS , Relief , Employer , Individual , Premium
The IRS, in Notice 2015-17, has provided transition relief allowing small employers that continued to reimburse or pay for their employees’ individual medical plans in 2014 and/or are continuing to do so in 2015 to escape the excise tax penalties for doing so. This guidance is contrary to IRS Notice 2013-54 and subsequent guidance that prohibits an employer from paying for or reimbursing employees for their individual medical insurance premiums under what the regulation referred to as an “emp...
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Categories: Health Care Reform, Compliance | Tags: individual , premium , reimburse , payment
In an attempt to put a stop to the marketing practices of some benefit practitioners who are still asserting that employers can pay for or reimburse their employees’ individual medical plan premiums on a pre-tax basis, the Employers Council on Flexible Compensation (ECFC) has issued an “employer alert” that details the reasons why doing so exposes the employer to significant excise tax penalties.
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Categories: Health Care Reform, Compliance | Tags: IRS , Premiums