New rules, beginning in 2020, expand the use of HRA’s (Health Reimbursement Arrangement)– for both small and large employers! As a result of the 21st Century Cures Act of 2016, businesses with fewer than 50 employees may establish a QSEHRA, otherwise known as Qualified Small Employer Health Reimbursement Arrangements. A QSEHRA allows businesses who…
Small businesses are applauding legislation passed by the House and Senate and signed into law by the President that eliminates a tax penalty on employers who reimburse employees for the cost of health insurance premiums. Even though the tax was not part of the ACA, the IRS had initiated enforcement of the penalty on employers…
July 14, 2016 – The US Department of Health and Human Services (HHS) has reportedly sent out hundreds of thousands of notices to employers indicating that one or more employees is receiving a subsidy from the health care exchange. These notices are being sent in order to give you a chance to appeal the employee’s…
AFFORDABLE CARE UPDATE AND CLARIFICATION “Can I reimburse my employees for their personal health insurance premiums?” The Affordable Care Act (ACA) has encouraged the Department of Labor (DOL) to add another health care requirement that employers must be aware of for 2015. The DOL guidance, issued just after the November elections, puts strict limits on…
A common question from our clients: “Can I let my employees buy their own health insurance and reimburse them?” Before 2014 the answer to this question was “yes,” using what is known as a Section 105 plan. These plans allowed employers to reimburse employees on a pre-tax basis. However, under IRS rules issued in September…
Tax season is officially here! As usual, there are some possible glitches to be mindful of. Already, the IRS has alerted taxpayers that the start of filing season will be delayed. Late tax legislation, although unlikely, could result in a further delay. Some new requirements under the Patient Protection and Affordable Care Act have been…