compliance
November 23, 2022
IRS Revises Guidance to Allow Expanded Mid-Year Cafeteria Plan Election Changes
The IRS recently released revised guidance to permit employers to amend their cafeteria plans to allow mid-year election changes when an individual related to a plan participant is eligible to elect a qualified health plan on the Marketplace due to either a special enrollment period or during ...
November 7, 2022
Compliance Recap | October 2022
IRS Announces Increased Limits for Certain Employee Benefits, Higher Fines for ACA Reporting Failures Each year, just as the leaves turn to the fiery shades of autumn, the Internal Revenue Service (IRS) announces how much more “green” will be available during the coming year under various ...
November 2, 2022
Cafeteria Plans: Change in Status Events and Permissible Employee Election Changes
Cafeteria plans are governed by IRS Code Section 125 and allow employers to help employees pay for expenses such as health insurance with pre-tax dollars. Employees can choose between a taxable benefit (such as cash) and two or more specified pre-tax qualified benefits (health insurance, for ...
October 20, 2022
IRS Announces Increased Limits for Certain Employee Benefits, Higher Fines for ACA Reporting Failures
Each year, just as the leaves turn to the fiery shades of autumn, the Internal Revenue Service (IRS) announces how much more “green” will be available during the coming year under various employee benefit programs. The IRS recently released Revenue Procedure 2022-38 in which it has updated many ...
October 14, 2022
Final Rule Resolves “Family Glitch” for ACA Marketplace Coverage
The Department of the Treasury recently issued final regulations to make the premium tax credit (PTC) for Marketplace health coverage available to more individuals starting in 2023. The new rule changes the IRS’s interpretation of group health coverage affordability for determining PTC ...
October 7, 2022
Compliance Recap | September 2022
September was a relatively quiet month in compliance as employers continue the ramp-up to open enrollment. Prescription Drug Cost Reporting With a due date of December 27, 2022, prescription drug cost reporting is looming large in employers’ minds. The first reports for submission to the U.S. ...
September 16, 2022
Departments Issue No Surprises Act FAQ and Clarify Independent Dispute Resolution Process
The U.S. Departments of Health and Human Services, Labor, and the Treasury (the “Departments”) recently released final rules regarding the No Surprises Act. The rules specifically address required independent dispute resolution (IDR) of certain claims and expenses and finalize prior interim ...
September 9, 2022
Compliance Recap | August 2022
August was a busy month, with employers buzzing about transparency, reporting, and more. As we wrap up the summer season of the 2022 benefits compliance calendar, be mindful of these important issues. 2023 ACA Facts and Figures The Affordable Care Act (ACA) imposes an employer shared ...
September 5, 2022
Important 2023 ACA Reminders for Applicable Large Employers
The Affordable Care Act (ACA) includes numerous requirements for applicable large employers (ALEs) to meet to maintain compliant group health plans. Many of these requirements change annually, so we provide you this overview of the key facts and figures to keep in mind for 2023. Affordability ...
August 29, 2022
Departments Issue Final Rules to Clarify Dispute Resolution and Transparency under No Surprises Act
On August 19, the U.S. Departments of Health and Human Services, Labor, and the Treasury (the Departments) released final rules regarding the No Surprises Act provisions of the Consolidated Appropriations Act, 2021. The rules address the No Surprises Act’s required independent dispute ...
