Most individuals that have had health insurance for most or all of 2016 will receive one or more Form 1095. The article below common questions on the different types of Form 1095, who will receive them and how they are used. Q&A: Tax Forms 1095-A, 1095-B & 1095-C
Qualified Small Employer HRA’s; 21st Century Cures Act
On December 13, 2016, the 21st Century Cures Act (Cures Act) introduced a new type of tax-preferred arrangement called the Qualified Small Employer Health Reimbursement Arrangement (QSE HRA) that small employers may use to help their employees pay for medical expenses. Under the Cures Act, the
What is a Qualified Life Event?
Most individuals go through a number of life events that affect their health benefit needs and the choices they make. There are several important federal laws that affect their benefits under a job-based health plan. While employees, in general, are only allowed to change their benefits elections
Featured Video: Lather, Rinse, Repeat: IRS Reporting in 2017
December 's Feature Video Lather, Rinse, Repeat: IRS Reporting in 2017 The Patient Protection and Affordable Care Act's (ACA) reporting requirements are rapidly approaching for employers with group health plans or with 50 or more full time or full time equivalent employees. During 2016, the IRS
Are Opt-Outs on the Way Out?
Opt-out payments or cash in lieu of benefits have been a staple in the employee benefits industry for many years. Employers offer individuals who are eligible to enroll in their group health plan a sum of money, typically paid monthly, to those who waive enrollment in the group health plan.
IRS Releases 2016 Forms and Instructions for 6055/6056 Reporting
Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals
Health FSA Limit Increase for 2017
The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. On Oct. 25, 2016, the Internal
Featured Video: The Government is Knocking: DOL Audits of Health & Welfare Plans
October's Feature Video The Government is Knocking: DOL Audits of Health & Welfare Plans The Department of Labor (DOL) continues to audit health and welfare benefit plans of all sizes in record numbers. Being prepared for an audit is critical to an employer's success during the audit