Archive by category: Benefits in GeneralReturn
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The IRS has released 2018 key indexing adjustments used under the Affordable Care Act (ACA). This revenue procedure is effective for taxable years and plan years beginning after December 31, 2017.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: ACA , Affordability , IRS , Tax Credits
The IRS recently released an information letter addressing the question of whether an employee who establishes and funds an HSA while enrolled in Medicare must pay a fine to the IRS.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , health savings account , IRS , information letter , Internal Revenue Service , Medicare

EBRI Releases Survey on Workplace Benefits

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The Employee Benefit Research Institute (EBRI)/Greenwald & Associates Health and Voluntary Workplace Benefits Survey released this month “examines a broad spectrum of health care issues, including workers’ satisfaction with health care today, their confidence in the health care system and the Medicare program, and their attitudes toward benefits in the workplace”.
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Categories: Benefits in General, Health Care Reform, Health Care in General | Tags: EBRI , health insurance , ACA , health care reform , benefits , employment-related benefits
As the April 18th income tax deadline quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, health care flexible spending accounts (HCFSA), dependent care flexible spending accounts (DCFSA) and 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 , 1099-SA , Form 2441 , Form 8889 , Income Tax , IRS , April 15th , W-2 , Employer-sponsored Health , Health Insurance , ACA
The U.S. Chamber of Commerce issued a statement on March 16, 2017 supporting the use of cafeteria plans and requesting that the use of cafeteria plans be opened up for self-employed individuals in an effort to promote cafeteria plan use among small businesses.
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Categories: Benefits in General, Health Care in General | Tags: self-employed , sole proprietor , partner , subchapter s , sub s , s corporation , long-term care , longevity insurance , cafeteria plan
The IRS recently released an information letter addressing the treatment of cafeteria plan forfeitures when an employer ceases operations and the plan terminates. Specifically, the letter clarifies that Section 125 of the Internal Revenue Code does not require that unused cafeteria plan funds be paid to the U.S. Treasury in these circumstances. How unused funds are disposed of when a plan terminates depends on what the plan document provides and the facts and circumstances at the time.
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Categories: Benefits in General, Compliance | Tags: cafeteria plan , forfeitures , irs , information letter , health fsa , flexible spending account , Section 125
According to a press release, the “House Ways and Means Committee Chairman Kevin Brady (R-TX) released legislation on March 6, 2017 to repeal and replace Obamacare through a budget process known as reconciliation.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: GOP , American , American Health Act , Taxes , Ways and Means , Energy and Commerce , Obamacare , Repeal , Replace
The IRS recently released an information letter providing that a qualified transportation plan can require participants to use a debit card to pay for transit expenses, even if the circumstances might otherwise permit participants to claim cash reimbursement from their employer.
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Categories: Benefits in General, Compliance | Tags: transit , transportation , qualified transportation plan , readily available
The IRS has published new versions of various publications used by taxpayers to assist them in preparing their 2016 income tax returns.
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Categories: Benefits in General, Compliance | Tags: HSA , IRS , Pub 969 , Form 8889 , Health Savings Account
An IRS Chief Counsel Memorandum released on January 20, 2017, addressed the tax treatment of fixed indemnity health plans.
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Categories: Benefits in General, Compliance | Tags: IRS , Indemnity , Wellness , Tax Exclusion
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