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IRS Clarifies No ACA Employer Reporting Required for Most HRAs
On September 17, 2015, the IRS issued Notice 2015-68 which includes new guidance making it clear that employers who offer an HRA integrated with a regular health plan will not be required to provide any additional reporting specific to the HRA. This is good news for large and small employers who sponsor HRAs.
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ACA Reporting - Offers of COBRA Coverage
On May 19, 2015, the Internal Revenue Service (IRS) released FAQs detailing how employers should report offers of COBRA coverage on Form 1094-C and Form 1095-C. On September 16, 2015, the IRS issued final 2015 instructions for Forms 1094-B and 1095-B (B Forms) and Forms 1094-C and 1095-C (C Forms). The revised instructions make a substantive change in the manner in which offers of COBRA coverage are reported.View Insight -
PACE Act Changes the Definition of Small Group Insurance
Previously, under the Affordable Care Act (ACA), a small group was scheduled to be defined as employers with fewer than 100 employees beginning in 2016. The PACE Act now defines a small employer as one that employed an average of not more than 50 on business days during the preceding calendar year. However, the act also gives states the option to define the small group market differently in each state. Most states are expected to move forward defining small groups as employers with no more than 50 employees, as was common prior to the ACA.View Insight -
IRS Extends 2016 Deadlines for ACA Reporting
All applicable large employersthose with 50 or more full-time employees, including full-time equivalents (FTEs) are required to report whether minimum value, affordable coverage was offered to any employees who were full-time for at least one month during the calendar year. And all employers sponsoring a self-funded medical plan are required to report on all individuals covered under the plan, even those who are not full-time employees. The employer will report the required information by using Forms 1094 and 1095 (B or C). Employers who must provide 250 or more Forms 1095 are required to file electronically.View Insight -
Dodd-Frank, SEC Enforcement Activity, Whistleblowers and D&O Insurance
Is the Dodd-Frank Act (Dodd-Frank), signed into law on July 21, 2010, potentially a game-changer when it comes to the exposure of officers and directors of public companies to litigation? Yes. And unfortunately for directors and officers and the companies they serve, the scope of insurance coverage afforded by director and officer (D&O) liability insurance policies can be problematic.View Insight -
IRS Releases Broad Range of Guidance in Notice 2015-87
The guidance is provided in a question-and-answer format, with comments requested on several issues that the IRS plans to address in forthcoming rules. The Notice supplements previous guidance on several issues, including Health Reimbursement Arrangements (HRAs) and Employer Payment Plans, providing additional clarification and, in some cases, transition relief or grace periods for compliance.View Insight -
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IRS Issues Guidance on the Retroactive Tax Treatment of the Transit Benefit Limit Increase for 2015
As announced in our December 2015 alert, the Consolidated Appropriations Act was passed to permanently create parity between the mass transit/commuter benefit (Transit Expenses) limit and the qualified parking benefit so that both limits under Code 132 are increased to $255 per month effective January 1, 2016. However, the Act also provided a retroactive increase to the 2015 Transit Expenses from $130 per month to $250 to match the monthly benefit maximum for qualified parking expenses, which left employers with many questions as to how to implement the increase for 2015.View Insight -
Be aware of the warning signs to potential violence in the workplace
Nobody ever thinks that they will be the victim of an act of violence or terrorism in the workplace, even as these tragic events become more and more common in our society. As a result, little is done to prepare for or be aware of the potential warning signs that may offer evidence that something really bad is about to happen.View Insight -
Pre-work can help you more efficiently manage your claims
Risk managers typically dont have the capacity to invest large amounts of time preparing for a loss that may never occur. But when you reserve a reasonable amount of time to prepare for certain losses that could be damaging to your business, the effort can more than pay for itself in the long run.View Insight -
California Experience Rating Changes on the Horizon for 2017
Effective January 1, 2017, the WCIRBs proposed variable split point experience modification formula will replace the current single split point formula.View Insight -
Form 1095 Deadline and Penalties
For the first time in 2016, all applicable large employers (generally those with 50 or more full-time equivalents) are required to provide a Form 1095-C to any employees who were full-time for at least one month during 2015. And all employers, regardless of size, offering coverage under a self-funded plan during 2015 must provide either a Form 1095-B or Form 1095-C to any individuals covered under the self-funded plan.View Insight