United Benefit Advisors Insight and Analysis Blog

IRS Releases Memo on 2-percent Shareholders’ Health Coverage Deductions

Posted by: Karen Hsu    Jul 18, 2019 1:12:55 PM

The Internal Revenue Service (IRS) released a memorandum to confirm that a person who is a 2-percent shareholder (through Internal Revenue Code §318’s attribution rules) in an S corporation is entitled to a deduction for the amounts paid by the S corporation under a group health plan.

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Topics: IRS, Group health plans, Internal Revenue Service

IRS Releases Information Letter on Returning HSA Contributions to an Employer

Posted by: Karen Hsu    Mar 14, 2019 4:30:02 PM

shutterstock_564470320Generally, a person’s interest in a Health Savings Account (HSA) is nonforfeitable. However, in the past, the Internal Revenue Service’s Notice 2008-59 described limited circumstances under which an employer may recoup contributions made to an employee’s HSA.

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Topics: IRS, HSA

IRS Releases 2019 Inflation-Adjusted Limits

Posted by: Karen Hsu    Jan 17, 2019 2:13:54 PM

The Internal Revenue Service (IRS) released its inflation-adjusted limits for various benefits. For example, the maximum contribution limit to health flexible spending arrangements (FSAs) will be $2,700 in 2019. Also, the maximum reimbursement limit in 2019 for Qualified Small Employer Health Reimbursement Arrangements will be $5,150 for single coverage and $10,450 for family coverage.

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Topics: IRS, inflation

IRS Releases Indexed PCORI Fee

Posted by: Karen Hsu    Jan 10, 2019 1:00:00 PM

The Patient Protection and Affordable Care Act (ACA) imposes a fee on insurers of certain fully insured plans and plan sponsors of certain self-funded plans to help fund the Patient-Centered Outcomes Research Institute (PCORI). The PCORI fee is due by July 31 of the year following the calendar year in which the plan or policy year ends.

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Topics: ACA, IRS, PCORI Fee

Top 5 Blogs of 2018

Posted by: Bill Olson    Jan 3, 2019 1:00:00 PM

As 2018 wraps up and we move into 2019, we wanted to recap some of the most popular posts we shared this year.

In everything from compliance updates to human resources news, UBA stays on top of the latest trends, new regulations, and hot-button issues in the industry so we can share knowledge about the benefits industry.

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Topics: voluntary benefits, IRS, benefits compliance, retirement planning, fringe benefits

IRS Releases Final Forms and Instructions for 2018 ACA Reporting

Posted by: Karen Hsu    Nov 15, 2018 1:12:11 PM

The Internal Revenue Service (IRS) released instructions for both the Forms 1094-B and 1095-B and the Forms 1094-C and 1095-C and Forms 1094-B, 1095-B,1094-C, and 1095-C. There are no substantive changes in the forms or instructions between 2017 and 2018, beyond the further removal of now-expired forms of transition relief. There is a minor formatting change to Forms 1095-B and 1095-C for 2018. There are dividers for the entry of an individual’s first name, middle name, and last name. 

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Topics: IRS, ACA reporting, compliance recap, IRS 1094, IRS 1095

IRS Issues Updated Employers Tax Guide to Fringe Benefits

Posted by: Danielle Capilla    May 17, 2018 4:00:00 PM

Recently the Internal Revenue Service (IRS) issued its 2018 Publication 15-B, which informs 

employers about employment tax treatment of fringe benefits.
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Topics: IRS, employee benefit plans, fringe benefits

IRS Updates Guidance on Play-or-Pay Penalty Assessments

Posted by: Danielle Capilla    Dec 5, 2017 9:30:00 AM

Beginning in 2015, to comply with the Patient Protection and Affordable Care Act (ACA), “large” employers must offer their full-time employees health coverage, or pay one of two employer shared responsibility / play-or-pay penalties. The Internal Revenue Service (IRS) determines the penalty each calendar year after employees have filed their federal tax returns.

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Topics: IRS, employer shared responsibility, Affordable Care Act, play or pay requirements

Minimum Value: HRA Contributions and Flex Credits

Posted by: Danielle Capilla    Feb 9, 2016 12:00:00 PM

The Internal Revenue Service (IRS) recently issued a final rule that clarifies various topics relating to the Patient Protection and Affordable Care Act (ACA) and premium tax credit eligibility provisions. Mirroring guidance from IRS Notice 2015-87, the final rule clarifies that health reimbursement arrangement (HRA) contributions by an employer that may be used to pay premiums for an eligible employer sponsored plan are counted toward the employee's required contribution, subsequently reducing the amount required for their contribution.

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Topics: ACA, PPACA Affordable Care Act, IRS, health reimbursement arrangements, HRA, Premium Tax Credits, Danielle Capilla

IRS Proposed Regulations Recognize Same Sex Marriage

Posted by: Danielle Capilla    Oct 29, 2015 12:00:00 PM

In June 2015, the Supreme Court ruled in Obergefell v Hodges that the 14th Amendment requires a state to license a marriage between two people of the same sex, and to recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out of state. The IRS has issued proposed regulations to reflect that holding, which will impact married couples, employers, sponsors, and administrators of employee benefit plans and executors.

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Topics: ACA, IRS, same sex marriage, Danielle Capilla, Obergefell v Hodges