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The Employers Council on Flexible Compensation, the Society for Human Resource Management, the National Association of Health Underwriters, and 33 other prominent employer advocacy trade groups signed onto a letter earlier this week urging that Congress grant relief for employers from the Cadillac Tax, the Health Insurance Tax and the medical device tax.
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Categories: Benefits in General, Health Care Reform, Health Care in General | Tags: Cadillac tax , health insurance , ECFC , SHRM , NAHU , Employers Council on Flexible Compensation , Society for Human Resource Management , National Association of Health Underwriters , letter , Congress , tax reform , benefits

House Passes Tax Reform Legislation

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The House, today, by a by a vote of 227-205, passed legislation to overhaul the tax code.
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Categories: Benefits in General, Compliance | Tags: Tax Reform , Tax Cuts and Jobs Act , House

Tax Reform Proposal Updates

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The House released its tax reform proposal titled the “Tax Cuts and Jobs Act” (H.R. 1) late last week. This week the Ways and Means Committee has held a series of hearings to offer debate and amendments to the original proposed bill. As of late Thursday afternoon, the Ways and Means Committee has approved the Republican version of the bill that included Chairman’s Amendment #2 restoring some of the provision set for repeal in earlier versions.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: Tax Reform , Ways and Means , House , Tax Cut and Jobs Act
The IRS has updated the Q&A on the employer mandate to include new information on the notices that will be sent to employers over the next few weeks regarding any potential penalties for the 2015 reporting year.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , Letter 226J , ACA , Employer shared responsibility , ALE , Employer penalties , 1094-C , 1095-C

IRS Releases QSEHRA Guidance

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Yesterday, the Internal Revenue Service (IRS) released Notice 2017-67, which provides Q & A guidance on Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs). QSEHRAs were established under the 21st Century Cures Act enacted on December 13, 2016.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: QSEHRA , IRS , Qualfied Small Employer HRA

IRS Announces 2018 Pension Plan Limitations

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Last week, the IRS issued Notice 2017-64 announcing the cost of living adjustments for pension plans and other retirement-related items for the tax year 2018.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , Pension , Highly Compensated , Key Employee , 401(k) , 2018 limits , IRA
Today the IRS announced under Revenue Procedure 2017-58, the 2018 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Included in the announcement is the inflation adjusted 2018 limits for health flexible spending accounts (FSAs) under an IRC §125 cafeteria plan and the Parking and Transit account limits under an IRC §132 Transportation Plan.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Health FSA Limit , 2018 , Transit , Parking , Transportation Plan Limits , IRS , Revenue Procedure , RP 2017-58
The DOL recently issued a proposed rule that would delay the applicability date of new disability claims procedure regulations by 90 days.
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Categories: Benefits in General, Compliance | Tags: disability , DOL , Department of Labor , proposed rule

IRS Announces New PCOR Fee

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IRS Notice 2017-61 provided the updated dollar amount to be used to calculate the PCORI fee for health plan policy and plan years that end on or after October 1, 2017 and before October 1, 2018. This includes 2017 calendar year plans, and the updated fee amount is $2.39 per covered life.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: PCOR , 720 , IRS , ACA
The IRS has released the final Forms 1094-B, 1095-B, 1094-C, and 1095-C for calendar year 2017 reporting. The final instructions are available for the C Series forms, and we expect the B series final instructions to be released shortly. Employers are required to report in early 2018 for calendar year 2017.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: ACA , 1094 , 1095 , 6055 , 6056 , Employer reporting , IRS
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