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 employer-provided benefits for the employee and their tax dependents. However, there are three benefits-related exceptions to this rule:

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DOL Issues Ruling to Further Support Retirement Income Security for Small & Mid-Sized Employers

The U.S. Department of Labor (DOL) finalized a ruling that will improve retirement security for small and mid-sized employers as it estimates that 38 million private sector employees do not have access to retirement benefits. The ruling was issued on July 29, 2019 and was effective September 30, 2019. The ruling is as a result of an executive order issued by President Trump in October 2018 that focused on retirement plan security for small and mid-sized employers.

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Employee Benefits: Domestic Partners

Q: We offer employees the opportunity to cover their domestic partners on our medical plan. We verify the existence of a domestic partnership using an affidavit that must be signed by both the employee and his or her partner. One of our employees recently notified us that his relationship is ending and asked to drop his former domestic partner from our medical coverage. My questions are…

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What Employers Need to Know About the New Transparency Rules

Following President Trump’s Executive Order on Improving Price and Transparency in American Healthcare, one final and one proposed rule was released by HHS and CMS that aim to increase price transparency for hospitals and insurance companies. These rules would have an impact on employers who sponsor group health plans.

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What IRS Extends Deadline for Furnishing Form 1095-C, Extends Good-Faith Transition Relief

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. The Notice also provides penalty relief for good-faith reporting errors and suspends the requirement to issue Form 1095-B to individuals, under certain conditions.

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Article Credit: Benefit Advisors Network