IRS Updates

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IRS Updates Health Coverage Affordability Calculation for Individuals for 2018 The Internal Revenue Service (IRS) issued Revenue Procedure 2017-36, adjusting the calculation determining whether an individual can afford employer-sponsored health coverage, which affects whether the individual would be eligible for a premium tax credit on the public health exchanges. This could affect employers who are […]

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IRS Memo on Fixed Indemnity Health Plan Benefits Tax Treatment

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On January 20, 2017, the IRS released a Memorandum on the tax treatment of benefits paid by fixed indemnity health plans that addresses two questions: Are payments to an employee under an employer-provided fixed indemnity health plan excludible from the employee’s income under Internal Revenue Code ยง105? Are payments to an employee under an employer-provided […]

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Are Opt-Outs on the Way Out?

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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. Employers who offer group health […]

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Compliance Recap // May 2016

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After a quiet few months, federal agencies were quite busy during the month of May, issuing four important final rules that impact employers. Specifically, the Department of Labor (DOL) issued the long-awaited revisions to the white collar exemptions of the Fair Labor Standards Act; the Department of Health and Human Services (HHS) released its final […]

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What Employers Need to Know about the IRS-SSA-CMS Data Match Program

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Beginning in early 2016, many employers received letters from the IRS-SSA-CMS Data Match program. These letters are addressed to the employer and begin by stating that “Medicare needs your cooperation.” Employers are directed to report information on the IRS/SSA/CMS Data Match Secure Web Site (https://www.cob.cms.hhs.gov/DataMatch/). The data being requested is often extensive, and can cover […]

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