HcTrends RSS Article Feed https://www.hctrends.com/rss/rss.aspx HCTrends.com - Resource Postings en-us All materials © Copyright 2002 - 2018, HCTrends.com 3958 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=663E9C00-8D77-46A5-B0F9-9E7D755EB974 webmaster@hctrends.com Questions and Answers on Employer Shared Responsibility Provisions Under the Affordable Care Act (2.6.18) The Affordable Care Act added the employer shared responsibility provisions under section 4980H of the Internal Revenue Code. The following provide answers to frequently asked questions about the employer shared responsibility provisions. More detailed information is available on the Employer Shared Responsibility page and in final regulations under section 4980H. 2018-02-13T10:17:57-06:00 3957 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=86F9B434-EA96-4983-BD2B-8395C178360C webmaster@hctrends.com Online Form for Employers Offering Prescription Drug Coverage to Medicare Part D-Eligible Individuals by March 1st The Medicare Modernization Act requires employers that provide prescription drug coverage to Medicare-eligible individuals to complete the Online Disclosure Form to the U.S. Centers for Medicare & Medicaid Services (CMS) to report whether such coverage is creditable prescription drug coverage. Creditable coverage means that the coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage. 2018-01-30T04:09:13-06:00 3956 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=E5B96E3E-43A3-4880-9402-92F839E7B41F webmaster@hctrends.com Medicare Part D Disclosure to CMS Due March 1, 2018 for Calendar Year Plans The Medicare Modernization Act requires employers that provide prescription drug coverage to Medicare-eligible individuals to complete the Online Disclosure Form to the U.S. Centers for Medicare & Medicaid Services (CMS) to report whether such coverage is creditable prescription drug coverage. Creditable coverage means that the coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage. 2018-01-26T06:32:07-06:00 3954 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=F3FA972F-9043-4709-A91E-1E01980ACC25 webmaster@hctrends.com DOL Announces April 1 Applicability of Final Disability Plan Claims Procedure Regulations (1/2018) The U.S. Department of Labor (DOL) announced its decision for April 1, 2018, as the applicability date for ERISA-covered employee benefit plans to comply with a final rule (released in December 2016) that imposes additional procedural protections (similar to those that apply to health plans) when dealing with claims for disability benefits. In October 2017, the DOL had announced a 90-day delay of the final rule, which was scheduled to apply to claims for disability benefits under ERISA-covered benefit plans that were filed on or after January 1, 2018. Effective Date: While the DOL’s news release indicates that the DOL has decided on an April 1 applicability date for the final rule, the regulatory provision modified by the 90-day delay specified that the final rule will apply to claims filed “after April 1, 2018.” 2018-01-23T05:19:55-06:00 3953 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=B6EBB429-AC05-44C3-80E1-6C767B011AAB webmaster@hctrends.com IRS Issues Statement on Tax Reform and Form W-4 As previously reported, the Tax Cuts and Jobs Act (the Act), was passed by both the House and Senate on December 20, 2017, and was signed into law on December 22. The Act includes several significant changes that are relevant to employers for payroll, employment tax, and employee benefits purposes. The changes were generally effective on January 1, 2018. The Act repeals the deduction for personal exemptions, which for 2017 was $4,050 per individual (i.e., employee, spouse, dependents). The number of personal exemptions has been a key factor in withholding calculations. Employees establish withholding allowances on Forms W-4, based in part on the number of personal exemptions that they expect to report on their income tax returns. A pressing question was whether employees would be required to submit a new Form W-4 as a result of the elimination of personal exemptions under the Act. On December 26, 2017, the Internal Revenue Service (IRS) made a statement indicating that employees would not need to submit a new Form W-4. 2018-01-08T03:33:14-06:00 3952 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=61F155B4-1EAA-4D80-A870-9536FB61BFAB webmaster@hctrends.com H.R. 1, Tax Cuts and Jobs Act, To Be Enacted December 22, 2017 Treasury Guidance for 2018 Withholding Calculations Expected Shortly. H.R. 1, the Tax Cuts and Jobs Act (the Act), was passed by both the House and Senate on December 20, 2017, and is expected to be signed into law on December 22. H.R. 1 includes several significant changes that are relevant to employers for payroll, employment tax and employee benefits purposes, and are generally effective on January 1, 2018. These provisions, as well as expected transition measures, are explained below. 2018-01-08T03:29:17-06:00 3951 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=A541C46F-1E99-4552-8385-7068A4044B63 webmaster@hctrends.com Employee Benefit Changes in the Tax Cuts and Jobs Act of 2017 On December 22, 2017, President Trump signed what is popularly known as the Tax Cuts and Jobs Act (H.R. 1) (the “Bill”), overhauling America’s tax code for both individuals and corporations and providing the most sweeping changes to the U.S. Tax Code since 1986. The House and Senate Conference Committee provided a Policy Highlights of the major provisions of the Bill, and the Joint Committee on Taxation provided a lengthy explanation of the Bill. 2018-01-08T03:20:23-06:00 3950 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=CCD67A57-54E7-45D6-A989-8799ED8C44A3 webmaster@hctrends.com Court Vacates EEOC’s Wellness Program Incentives Rules Effective January 1, 2019 In an opinion dated December 20, 2017, in American Association for Retired Persons (AARP) v. EEOC, the federal court in the District of Columbia vacated, effective January 1, 2019, the portions of the final regulations that the EEOC issued last year under the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA) addressing wellness program incentives. The current regulations will remain effective for 2018 while the EEOC reconsiders and promulgates new rules. 2018-01-04T04:12:55-06:00 3948 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=87D2722B-E8B8-438C-A853-17EE68ED4B12 webmaster@hctrends.com IRS Issues Initial Employer Mandate Penalty Notices The general procedures the IRS will use to propose and assess the Employer Mandate penalties will be described in a letter to the employer known as Letter 226J. The IRS plans to issue Letter 226J to an applicable large employer (ALE) if it determines that, for at least one month in the year, one or more of the ALE’s full-time employees was enrolled in a qualified health plan for which a premium tax credit was allowed (and the ALE did not qualify for an affordability safe harbor or other relief for the employee). 2017-11-27T10:14:46-06:00 3947 https://www.hctrends.com/library/lib_article_display_by_id.aspx?id=4B884431-8EF7-42BE-B005-F60265E02EB6 webmaster@hctrends.com IRS Updates Employer Mandate FAQs: Indicates that Penalty Letters are Imminent (11/17) The Internal Revenue Service (IRS) has updated its list of frequently asked questions (FAQs) on the Affordable Care Act’s employer shared responsibility provisions – also known as the “pay or play” mandate. In particular, questions 55 through 58 provide guidance for employers who may be subject to shared responsibility payments. The FAQs indicate that the IRS will begin sending penalty letters to applicable large employers (ALEs) that owe penalties for calendar year 2015 “in late 2017.” Around this time last year, the IRS had indicated that penalty letters for 2015 would be coming “in early 2017;” however, those letters never materialized. Based on the latest update to its FAQs, it appears that the IRS has worked out the kinks in its systems and is prepared to begin sending penalty letters. 2017-11-27T03:58:36-06:00