compliance

Frequently Asked Questions about Tracking Full Time Employees under Play or Pay

Q1: Must full time employees be tracked under the Patient Protection and Affordable Care Act’s (PPACA) play or pay rules? A1: All common-law employees must be tracked under play or pay rules, including ongoing full time employees. Q2: Why would you track employees that you know are full time? ...

Extension of Maximum COBRA Coverage Period | Brinson Compliance

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires employers to offer covered employees who lose their health benefits due to a qualifying event to continue group health benefits for a limited time at the employee’s own cost. The length of the COBRA coverage period ...

Compliance Recap | June 2018

June was a relatively quiet month in the employee benefits world. The U.S. Department of Labor issued final regulations regarding association health plans. The U.S. Department of Justice filed a response in ongoing litigation regarding the constitutionality of the Patient Protection and ...

Health Savings Accounts: What You Need to Know

A health savings account (HSA) is a tax-exempt trust or custodial account set up with a qualified HSA trustee (such as a bank or insurance company) that is used to pay or reimburse certain medical expenses. HSAs were first available as of January 1, 2004, and have grown greatly in popularity. ...

FAQ about the PCORI Fee Due July 31

You have a PCORI filing and payment obligation if: You sponsor a major medical self-insured health plan You sponsor a fully-insured health plan and a self-funded health reimbursement arrangement (HRA) You sponsor a health plan that meets minimum essential coverage only (MEC) Employer-sponsored ...

Compliance Recap | May 2018

May was a relatively busy month in the employee benefits world. The Internal Revenue Service (IRS) released the indexed threshold that employers will use in 2019 to determine coverage affordability. The IRS also issued inflation-adjusted amounts that will apply to health savings accounts for ...

Frequently Asked Questions about the W-2 Reporting Requirement

Updated June 2018 Employers must include the value of “employer-sponsored group health coverage” on their employees’ W-2s. However, employers that issued fewer than 250 W-2s during the prior calendar year are currently exempt from this requirement. For example, an employer that issued 250 or ...

IRS Issues Proposed Rule to Expand Mandatory Electronic Filing

The Internal Revenue Service (IRS) published a proposed rule that would affect most employers who are required to file information returns, such as Forms W-2, Forms 1095-B, Forms 1095-C, and forms in the 1099 series. Current Non-Aggregation Rule Employers are not required to electronically file ...

Understanding Your IRS Play-or-Pay Penalty Assessment Letter

Recently, you may have received a letter from the Internal Revenue Service (IRS) stating that you may owe money because you either didn’t offer health coverage to enough of your full-time employees, or the health coverage that you offered wasn’t affordable or minimum value. Here are answers to ...

Federal Tax Credit for Employer-Provided Paid Family and Medical Leave

Updated May 24, 2018 The Tax Cuts and Jobs Act (Act) includes a new federal tax credit for employers that provide paid family and medical leave (FML) to their employees. To be clear, the Act does not require employers to provide paid leave. However, eligible employers are allowed a tax credit ...