Articles

The Difference between Schedule A and Schedule C

2020-03-06T11:40:30-06:00March 6th, 2020|News|

To complete a Form 5500 and any required schedules, an employer may be required to look at data from the plan document/summary plan description, the insurance contract or statistics related to plan. Depending upon the type of filing, questions asked on the 5500 may pertain to participation, premiums, expenses associated with the plan or

The What, When, Where, and Why of Wrap Plan Documents

2020-02-24T12:46:41-06:00February 24th, 2020|News|

When it comes to ERISA compliance, employers and brokers frequently ask us: who is responsible for creating documents and SPDs, how is a wrap plan used to satisfy ERISA compliance, and what information must be provided to employees and when. To help navigate some of the more commonly asked questions surrounding when employers must

Disclosures Due Within 60 Days of Beginning of Plan Year

2020-02-19T09:20:39-06:00February 19th, 2020|News|

Employers that offer prescription drug coverage to Medicare-eligible individuals are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS) on an annual basis and at other select times, indicating whether the plan's prescription drug coverage is creditable or non-creditable. The plan sponsor must complete the online disclosure

Compliance Navigator

2020-01-23T09:09:05-06:00January 23rd, 2020|News|

Our Compliance team helps you navigate through the complex landscape of healthcare legislation, regulation, and reform. Please enjoy this edition of Compliance Navigator, courtesy of Premier Benefits Group and Benefit Advisors Network. What is Imputed Income? In general, if an employer has adopted a cafeteria plan, their employees are not taxed on the cost of

HSA Eligibility Part II

2019-12-09T10:05:03-06:00December 9th, 2019|News|

In order to be eligible to make or receive contributions to an HSA, a participant must (1) be enrolled in a HSA qualified HDHP, (2) not be another individual's tax dependent, (3) not be entitled to (or enrolled in) Medicare, and (4) not be covered by any disqualifying coverage. In addition, eligibility to make

HSA Eligibility

2019-11-25T08:50:04-06:00November 25th, 2019|News|

In order to be eligible to make contributions (or receive contributions) to an HSA, a participant must (1) be enrolled in a HSA qualified high deductible health plan, (2) not be another individual's tax dependent, (3) not be entitled to Medicare, and (4) not be covered by any disqualifying coverage. Eligibility to make HSA

2020 Health Care FSA and Transportation Plan Limits Released

2019-11-07T08:01:00-06:00November 7th, 2019|News|

The IRS has announced annual inflation adjustments in Revenue Procedure 2019-44. Notable changes include the following for 2020 benefits plans: ·    Health Care Flexible Spending Account (Health Care FSA): The Health Care FSA annual limit under IRC § 125 cafeteria plans is increasing to $2,750 maximum for 2020. ·    Parking and Transit Accounts: The

Go to Top