- IRS Announces Benefit Limitations for 2017
October 26, 2016
Today, the Internal Revenue Service announced in Revenue Procedure 2016-55 the annual inflation adjustments for more than 40 tax provisions for 2017, including the tax rate schedules, and other tax changes. This Revenue Procedure provides details about these annual adjustments.
- Keep Your Opt-Out Option From Making Your Medical Plan Fail the ACA Affordability Test
On July 8, the Internal Revenue Service released proposed regulations implementing some of the rules previously announced in IRS Notice 2015-87. The proposed regulations will apply for taxable years beginning after December 31.
Among other topics, Notice 2015-87 introduced a rule that employers offering opt-out payments (also known as "cash-in-lieu") must add the cash amounts to each employee's premium contribution when calculating coverage affordability for the Affordable Care Act's employer mandate.
Notice 2015-87 distinguished between "unconditional" and "conditional" opt-out arrangements.
- DOL Releases Final Overtime Rules
On May 18, 2016, the Department of Labor released final regulations which automatically extend overtime pay protections to over 4 million workers within the first year of implementation. Other estimates put the number of newly eligible workers substantially higher.
The final regulations update the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt, specifically, the final regulations:
- DOL Rule Adjusts Civil Penalty Amounts for Inflation
(7/20/2016)On June 30, 2016, the Department of Labor (DOL) issued an interim final regulations to adjust the amounts of civil penalties assessed in its regulations, as required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Inflation Adjustment Act). The Inflation Adjustment Act significantly revises the method of calculating inflation adjustments for penalty increases, including by providing an initial "catch-up" adjustment that may result in a more substantial initial penalty increase.This interim final regulations increases penalties imposed under the Employee Retirement Income Security Act of 1974 (ERISA), Occupational Safety and Health Act (OSHA), Fair Labor Standards Act (FLSA), and the Family and Medical Leave Act (FMLA), among other laws.The adjusted civil penalty amounts apply to civil penalties assessed after August 1, 2016, whose associated violations occurred after November 2, 2015. Therefore, violations occurring on or before November 2, 2015, as well as assessments made before August 1, 2016 whose associated violations occurred after November 2, 2015, continue to be subject to the civil penalty amounts set out in the DOL's prior regulations (or under the applicable statute, if the amount has not yet been adjusted by regulation).....
- Final Regulations for Wellness Programs Under ADA and GINA
On May 16, the U.S. Equal Employment Opportunity Commission ("EEOC") issued final regulations that describe how Title I of the Americans with Disabilities Act (ADA) and Title II of the Genetic Information Nondiscrimination Act (GINA) apply to wellness programs offered by employers that request health information from employees and their spouses. The two regulations provide guidance to both employers and employees about how workplace wellness programs can comply with the ADA and GINA consistent with provisions governing wellness programs in the Health Insurance Portability and Accountability Act, as amended by the Affordable Care Act ("ACA")....
- Marketplace Notice to Employers
During the past couple of weeks, many employers received notice from the Marketplace indicating one of their employees was qualified for advance premium tax credits. Many are asking what is this notice and how should deal with it. The following explains what the notice is and what steps an employer should take.
What is this Notice? Click the title to get the full story....
- Changes in Affordability Safe Harbor Percentages
IRS Notice 2015-87 provided further guidance concerning the interaction between the Affordable Care Act and employer-provided health coverage.
- IRS Releases Notice 2016-4 Extending Important Due Dates
Notice 2016-4 extends the due dates for the 2015 information reporting requirements both furnishing to individuals and filing with the Internal Revenue Service) for insurers, self-insuring employers, and certain other providers of minimum essential coverage under section 6055 of the Internal Revenue Code, and the information reporting requirements for applicable large employers under section 6056 of the Code.
- Obama Signs Budget Deal That Suspends/Delays Key ACA Taxes
Congress passed and President Obama signed a $1.1 trillion spending bill on Friday that includes $622 billion in tax breaks and delays or suspends several ACA taxes. Given labor unions’ opposition to the Cadillac tax, the bill is seen as a victory for Democrats as much as for Republicans.
- IRS Releases Notice 2015-87 Addresses Several ACA Issues
On December 16, 2015, the IRS released Notice 2015-87. The IRS addressed various issues that have arisen under the Affordable Care Act (ACA) with respect to employer-sponsored coverage, focusing particularly on account-based employee benefits such as section 125 cafeteria plans and health reimbursement arrangements, reporting and defining hour of service. In addition, IRS provided guidance regarding COBRA coverage and Heath FSA carryovers. The following is a summary of the important provisions.
- ACA Employer Reporting - Frequently Asked Questions
January 2016 rings in the newest employer mandate dictated by the Affordable Care Act (ACA) - Employer Reporting. We have created a Frequently Asked Questions (FAQ) document to assist our clients maneuver through this latest compliance maze. Click on the title above to read the FAQ.
- Time to Begin Counting Hours for Variable Hour Employees
With the delay of the Employer Mandate in PPACA until January 1, 2015, many employers set aside their plans to track the hours of their variable hour employees. It is time to pull that back to the top of the pile as we enter 2014.
- IRS Issues Final Guidance on PCORI Fees
Fees, due by July 31, will be charged to health care insurers, and to sponsors of self-insured health plans, to fund the new Patient-Centered Outcomes Research Institute (PCORI)
- ACA - What Must A Small Employer Do? - Part IV
Digging Deeper Into Pay-or-Play Penalties
- ACA - What Must Small Employers Do? - Part III
How Do You Count To 50?
- ACA - What Must A Small Employer Do? Part II
This is a continuation of our effort to help small employers understand what they need to know about the Affordable Care Act (ACA).
- ACA - What Must A Small Employer Do? - Part I
Issues Affecting Employers of All Sizes
- Final Guidance on HIPAA/HITECH Rule
The Final Omnibus HIPAA/HITECH Rule: Significant Changes to Breach Notification Requirements
- Federal-State Health Exchange Reduces Flexibility
A federal-state partnership health insurance exchange for Michigan is expected to be in place in October 2013, but the state's health plans, employers and individuals will find less flexibility than if the state had approved its own exchange, several experts told Crain's.
- Insurers Will Be Charged to Use New Exchanges
WASHINGTON — The Obama administration said Friday that it would charge insurance companies for the privilege of selling health insurance to millions of Americans in new online markets run by the federal government.
- 2013: New Mandated FSA Limits
Implementation of New Health Flexible Spending Account Limits
- ACA - Expands Access to Preventive Services for Women
The Affordable Care Act, the health insurance reform legislation passed by Congress and signed into law by President Obama on March 23, 2010, helps make prevention affordable and accessible for all Americans by requiring health plans to cover recommended preventive services without cost sharing.
- Additional Medicare Tax Under the Affordable Care Act
Beginning on January 1, 2013, pursuant to IRC §3101(b) as modified by the Affordable Care Act (ACA), an Additional Medicare Tax will be imposed.
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- 2011 Medicare Creditable Coverage Letters
The 2011 Medicare Creditable Coverage Letters have been updated.
- Ernst & Young Entrepreneur of the Year Award
Michael Brillati, CEO of Salus Group, named as a 2011 FINALIST for the Ernst & Young Entrepreneur of the Year Award!
- Salus Group Moves Offices
We are extremely excited to announce that Salus Group has moved!
- CUcorp's CUCare Group sold to Salus
CUcorp's CUCare Group sold to Salus