Financial clarity comes from understanding what financial wellness is and what it means for each person. This benefits insight discusses how both employers and employees define wellness, as well as what you can do for 2020.
2019 was abundant with family leave protections, pension reform, and administrative streamlining of social security programs. This international benefits insight will take you through these varied changes as you make decisions for 2020.
The House and Senate has agreed to a bipartisan legislative package of spending bills to avoid a government shutdown. This package of bills is collectively referred to as the Further Consolidated Appropriations Act, 2020 (the "Act").
The Internal Revenue Service (IRS) has released Notice 2019-63, which extends the deadline for furnishing 2019 Forms 1095-B and 1095-C to individuals from January 31, 2020 to March 2, 2020. In this compliance alert, you'll receive details on the new timeline and the new good-faith penalty relief policies for employers.
As we approach 2020, we find that we are headed into another year of vast changes on the employee benefit landscape. Based on our interactions with employers, carriers, and ever-changing regulatory standards, we have put together the five key benefit areas to watch in the coming year.
The IRS has released draft forms and instructions for the 2019 B-Series and C-Series reporting forms (Forms 1094-B, 1095-B, 1094-C and 1095-C) used by employers and coverage providers to report certain information to full-time employees and the Internal Revenue Service (IRS). In this compliance alert, you'll receive background information on added sections to the Affordable Care Act as well as a more in-depth explanation of reporting under these new draft forms.
This insight discusses some recurring issues under the Employee Retirement Income Security Act (ERISA) and the US Internal Revenue Code (Code) with which plan sponsors and their fiduciaries should be familiar and ready to address when their companies are engaged in a corporate transaction.
On November 6, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which raises the health Flexible Spending Account (FSA) salary reduction contribution limit by $50 to $2,750 for plan years beginning in 2020. The Revenue Procedure also contains the cost-of-living adjustments that apply to dollar limitations in certain sections of the Internal Revenue Code.