United Benefit Advisors Insight and Analysis Blog

IRS Releases Information Letter on Employer Shared Responsibility Penalties under the ACA

Posted by: Karen Hsu    Nov 7, 2019 9:45:00 AM

The Internal Revenue Services (IRS) released an information letter responding to an inquiry of whether employer shared responsibility penalties (ESRPs) may be waived or reduced based on hardship or other factors and whether the IRS will extend the transition relief for employers with fewer than 100 employees.

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Topics: ACA, IRS, compliance recap, ESRPs

IRS Announces Health Insurance Providers Fee to Resume in 2020

Posted by: Karen Hsu    Oct 29, 2019 9:12:00 AM

As background, the Patient Protection and Affordable Care Act (ACA) imposes a fee on each covered entity (for example, health insurers or a non-fully insured MEWA) engaged in the business of providing health insurance for United States health risks.

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Topics: ACA, IRS, ACA fees, compliance recap

IRS Publishes Proposed Rules on Affordability Safe Harbors and Nondiscrimination for ICHRAs

Posted by: Karen Hsu    Oct 22, 2019 8:32:00 AM

The Internal Revenue Service (IRS) published proposed rules clarifying how the employer shared responsibility provisions and Section 105(h) nondiscrimination rules apply to health reimbursement arrangements (HRAs) and other account-based group health plans that are integrated with individual health insurance coverage or Medicare.

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Topics: HRAs, IRS, compliance recap, Individual Coverage

IRS Releases Private Letter Ruling Regarding Section 213(d) Medical Care Expenses

Posted by: Karen Hsu    Sep 24, 2019 10:15:00 AM

The Internal Revenue Service (IRS) released a private letter ruling (Letter) regarding whether the price of a DNA collection kit – specifically services and reports related to a person’s health that are generated from analyzing the collected DNA – qualify as Section 213(d) medical care expenses.

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Topics: IRS, compliance recap, DNA Collection Kit, Medical Care Expenses

IRS Releases the Indexed 2020 Affordability Percentage

Posted by: Karen Hsu    Aug 28, 2019 3:30:00 PM

The IRS released Notice 2019-29 that adjusts the affordability percentage for 2020.

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Topics: IRS, Internal Revenue Service, compliance recap

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