On May 21, 2018, the Internal Revenue Service (IRS) issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2019, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only [...]
A full report from the IRS.gov can be read here: Patient-Centered Outcomes Research Institute Fee. The PCORI (Patient-Centered Outcomes Research Institute) is a fund paid by employers that sponsor self-insured health plans and by commercial group health insurance providers. The fee, required to be reported only once a year on the second quarter Form 720 and [...]
On May 10, 2018, the IRS released Revenue Procedure 2018-30 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2019. These limits include: The maximum HSA contribution limit; The minimum deductible amount for HDHPs; and The maximum out-of-pocket expense limit for HDHPs. These limits vary based on [...]
NYS Law passed that required employers to adopt policies and training programs to prevent sexual harassment. Employers may be held liable for workplace sexual harassment of nonemployers. Sexual harassment claims may not be subject to mandatory arbitration or nondisclosure.
Information explaining the basics for the new Medicare cards that will begin being issued April 2018.
The IRS announced that the HSA family contribution limits for 2018 have changed from $6,900 to $6,850 as a result of the tax reform laws. This is important to communicate to employees as some have already contributed $6,900 into their HSA accounts. Please advise them that they must remove the extra $50 or adjust their contribution [...]
The Department of Labor has announced a delay, until April 1, 2018, for revised regulations changing the claims procedures governing disability benefits. These regulations have caused some confusion, as employers try to understand the impact of these rules. This note will try to shed some light on the issue. Timing The delay does not [...]
ERISA requires a plan to provide participants with certain documents including Summary Plan Descriptions (“SPD”), Summary of Material Modification (“SMM”) and Notice of Privacy Practices (“NPP”). This white paper has been developed to provide guidance on distribution of this material. It is important to note that Vanner cannot be relied upon to provide legal [...]
The deadline for furnishing individual statements under Sections 6055 and 6056 for 2017 has been extended for 30 days. Good-faith transition relief from penalties has also been extended for 2017 reporting. The due date for filing returns with the IRS for 2017 is not affected.
The Senate has now passed its version of a revamp to the tax code (H.R. 1). The legislation makes significant changes to many provisions of the code, including dramatic changes to corporate and individual taxation. The bill now goes on to a conference committee to reconcile differences with the bill passed by the House of [...]