The Internal Revenue Service (IRS) has released an updated Frequently Asked Questions (FAQs) and resources document that provides additional explanation and clarification related to the tax credits available under the … Continued
As the coronavirus pandemic continues within the United States, late in 2020, the government passed the Consolidated Appropriations Act, 2021 (CAA). The act provided extended economic relief to businesses and … Continued
Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to these limits: High … Continued
Open enrollment for the 2021 plan year is fast approaching and it is important for employers to be aware of the regulatory requirements and actions that need to be followed … Continued
On December 9, 2019, the Internal Revenue Service (IRS) released the final ACA reporting forms and instructions for the 2019 ACA reporting plan year filing, this is an update from … Continued
Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. This Compliance Overview explains key 2020 compliance deadlines for employer-sponsored group … Continued
Health reimbursement arrangements (HRAs) are employer-funded accounts that reimburse employees for their eligible out-of-pocketmedical expenses on a tax-favored basis. Although HRAs provide significant tax benefits, they are subject to strict … Continued
On October 25, 2019, the Department of Health and Human Services (HHS) released the final rule which withdraws their initial September 5, 2012 ruling requiring employer self-funded health plans and … Continued
Health savings accounts (HSAs) are a popular type of tax-advantaged medical savings account available to individuals enrolled in high deductible health plans (HDHPs). Individuals can use their HSAs to pay … Continued
As employers continue to show more interest in adding wellness programs to their employee benefit plans, they must also be cognizant of any federal and/or state laws that could impact … Continued