The Department of Labor (DOL), through its Employee Benefits Security Administration (EBSA), has released updated versions of its model COBRA General Notice and model COBRA Election Notice, both with an expiration date of Jan. 31, 2023. Overview To administer coverage under the Consolidated Omnibus
DOL Releases New Model Employer CHIP Notice
The Department of Labor (DOL), through its Employee Benefits Security Administration (EBSA), has released a new model Employer CHIP Notice with information current as of Jan. 31, 2020. Background The Children’s Health Insurance Program Reauthorization Act of 2009 (CHIPRA) imposes an annual notice
No Statute of Limitations on ACA Pay or Play Penalties
On Feb. 21, 2020, the IRS Office of Chief Counsel released a memorandum clarifying that there is no applicable statute of limitations on pay or play penalty assessments under the Affordable Care Act (ACA). This means that there is no time limit for the IRS to issue a penalty assessment for employers
Featured Video: What Employers Need to Know about the New Final Rules on Health Reimbursement Arrangements Part 2
January's Featured Video This webinar will provide an overview of the new final rules on health reimbursement arrangements regarding individual coverage HRAs with an emphasis on the proposed rules regarding nondiscrimination and affordability by: Describing what a health reimbursement arrangement
Pay or Play Penalties Cafeteria Plan Elections
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees (and dependents) or pay a penalty. This employer mandate is also known as the “employer shared responsibility” or “pay or play” rules. The
ACA Spending Bill Extends PCORI Fee and Repeals Cadillac and Other Taxes & Fees
On Dec. 20, 2019, President Trump signed into law a spending bill that prevents a government shutdown extends and repeals the following taxes and fees under the Affordable Care Act (ACA): Extends PCORI fees to fiscal years 2020-2029. Repeals Cadillac tax on high-cost group health coverage,
ACA Reporting Deadlines and Forms
IRS issued extension to furnishing statements to individual and released final forms for ACA reporting under Section 6055 and 6056. Upcoming ACA Reporting Deadlines Affordable Care Act (ACA) reporting under Section 6055 and Section 6056 for the 2019 calendar year is due in early 2020. Specifically,
Employee Benefit Plan Limits for 2020
Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2020. Although some of the limits