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IRS and DOL Provide Deadline Relief

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On April 28, 2020, the U.S. Department of Labor (DOL) and Internal Revenue Service (IRS) issued a joint rule titled "Extension of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak". The rule provides automatic relief from a number of deadlines related to COBRA continuation coverage, HIPAA special enrollment periods, and claims and appeal filing deadlines for group health plans.
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Categories: Benefits in General, Compliance | Tags: Extension , COBRA , Claims , COVID-19 , IRS , DOL , Outbreak Period , Disaster Relief
The U.S. government continues to develop and enact legislation to aid employers and individuals in light of COVID-19. Today, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes, among numerous provisions designed to stimulate and protect the American economy, a provision to allow individuals to use their Flexible Spending Account (FSA), Health Reimbursement Arrangements (HRA), and Health Savings Account (HSA) funds tax free to purchase over-the-c...
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Categories: Benefits in General, Compliance, Health Care in General | Tags: CARES Act , Coronavirus Aid Relief and Economic Security Act , Coronavirus , COVID-19 , Over-the-counter medications , OTC , Menstrual care products , telemedicine , HSA eligibility
Hurricane Florence victims in part of North Carolina and elsewhere have until January 31, 2019, to file certain individual and business tax returns and make certain tax payments. The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record in the disaster area. Taxpayers do not need to contact the IRS to get this relief.
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Categories: Benefits in General, Compliance | Tags: Hurricane Florence , Tax Relief , IRS , North Carolina , South Carolina
The IRS recently announced in Notice 2018-06 that it has extended the 2018 deadline for insurers, self-insured employers, other coverage providers and applicable large employers to provide Forms 1095-B and 1095-C to individuals who received health insurance coverage in 2017. These Forms, which are required by the Affordable Care Act (“ACA”), must now be provided to individuals by March 2, 2018, instead of January 31, 2018. Notice 2018-06 also provides relief from penalty payments under the A...
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Categories: Health Care Reform, Compliance | Tags: Affordable Care Act , ACA , 1095-B , 1095-C , health insurance , IRS , Notice 2018-06 , relief , penalty , good faith
The DOL recently announced employee benefit plan compliance guidance and relief for victims of Hurricane Maria and the October 2017 California wildfires.
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Categories: Compliance | Tags: DOL , Hurricane Maria , Puerto Rico , California , wildfires , ERISA , guidance , IRS , COBRA , relief , employee benefit plans , benefit plans , benefits , victims , Form 5500 , Hurricane , Maria
The IRS recently issued guidance intended to help employers and employees affected by Hurricanes Harvey, Irma and Maria. The guidance provides relief to employees and businesses located in Florida, Georgia, Puerto Rico, the Virgin Islands and certain parts of Texas.
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Categories: Benefits in General, Compliance | Tags: IRS , Hurricane , tax relief , Irma , Maria , Harvey
August 29, 2017, the IRS announced tax relief for victims of Hurricane Harvey in Texas. The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area.
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Categories: Benefits in General, Compliance | Tags: IRS , Tax Relief , Hurricane Harvey , extension
The following is a summary of important proposed national health care legislation to watch when Congress reconvenes in the fall.
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Categories: Health Care Reform | Tags: Restoring Access to Medication and Improving Health Savings Act , Health Savings Act , Small Business Health Care Relief Act , Native American Health Savings Improvement Act , Veterans TRICARE Choice Act , Health Care Security Act , Tribal Employment and Jobs Protection Act , Student Worker Exemption Act , Halt Tax Increases on the Middle Class and Seniors Act

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

Affordability Percentage Adjusted for 2015

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The IRS has adjusted the percentage of household income used to determine if a large employer’s group health plan is affordable to its full time employees from 9.5% to 9.56% for 2015.
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Categories: | Tags: IRS , relief , Play-or-Pay , Large
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