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Category: "IRS"

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08/22/18

  04:24:00 pm, by MedBen5   , 190 words,  
Categories: IRS, Compliance, Health savings accounts (HSAs), High-deductible health plans (HDHPs)

Check Your Compliance with HSA and HDHP Requirements

Health savings accounts (HSAs) are becoming more and more popular as a vehicle to empower health savings and lower premium costs, but the related regulations – particularly those pertaining to the associated high deductible health plan (HDHP) – can be… more »

05/18/18

  07:36:00 pm, by MedBen5   , 182 words,  
Categories: Announcements, News, Consumer-driven Health Plans, IRS, Health savings accounts (HSAs)

IRS Announces 2019 HSA Inflation Adjustments

The IRS recently announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2019. The annual limit on deductible contributions to an HSA will jump by $50 for individuals and $100 for families next year.… more »

01/25/18

  06:45:00 pm, by MedBen5   , 255 words,  
Categories: News, Health Care Reform, Taxes, IRS

Delayed Again . . . Cadillac Tax Postponed Until 2022

While things have been relatively quiet on the Affordable Care Act front, in recent weeks employers were starting to wonder if they needed to implement strategies to manage costs under the controversial Cadillac Tax which was set to become effective in… more »

01/03/18

  08:56:00 pm, by MedBen5   , 259 words,  
Categories: News, IRS

IRS Extends 1095 Form Distribution Period

Happy New Year from the IRS! On December 27, 2017, the Internal Revenue Service gave employers sponsoring health plans a New Year’s gift. Again this year, the IRS has offered plan sponsors a 30-day automatic extension for the distribution of both 2017… more »

12/03/17

  11:03:00 pm, by MedBen5   , 479 words,  
Categories: Health Care Reform, IRS

“Cash in Lieu of Benefits” Considerations

With many employers updating benefit packages effective January 1st, it is easy to overlook certain basic benefit options. Offering cash in lieu of benefits is a growing trend among employers, especially those considered Applicable Large Employers (ALE)… more »

11/30/17

  04:48:00 pm, by MedBen5   , 513 words,  
Categories: News, Health Care Reform, IRS

Coming Soon: 2015 Employer Shared Responsibility Penalty Notices

What does the IRS do while it awaits the outcome of tax reform? It works on identifying employers that are not complying with the Affordable Care Act’s (ACA’s) employer shared responsibility mandate. In April, a Treasury Inspector General for Tax… more »

07/21/17

  05:36:00 pm, by MedBen5   , 327 words,  
Categories: News, Health Care Reform, Taxes, IRS

Reminder: PCORI Filing and Fee Deadline Approaching

As in years past, it's time for all self-funded employer health plan sponsors to file and pay the required Patient-Centered Outcomes Research Institute (PCORI) fee. While hope continues that payment of this fee may be suspended as part of the current… more »

05/30/17

IRS Announces 2018 HDHP Deductible, Out-of-Pocket Limits

As is the case every spring, the Internal Revenue Service (IRS) has released its guidance regarding the limitations for high deductible health plans (HDHP) for the coming calendar year. Rev. Proc. 2017-37 announces the limits that will apply to any HDHP… more »

05/21/17

  11:05:00 pm, by MedBen5   , 327 words,  
Categories: News, Health Care Reform, Taxes, IRS

Reminder: PCORI Filing and Fee Deadline Approaching

As in years past, it's time for all self-funded employer health plan sponsors to file and pay the required Patient-Centered Outcomes Research Institute (PCORI) fee. While hope continues that payment of this fee may be suspended as part of the current… more »

05/04/17

Check Your Compliance with HSA and HDHP Requirements

Health savings accounts (HSAs) are becoming more and more popular as a vehicle to empower health savings and lower premium costs, but the related regulations – particularly those pertaining to the associated high deductible health plan (HDHP) – can be… more »

01/12/17

  05:23:00 pm, by MedBen5   , 784 words,  
Categories: Health Care Reform, Taxes, Reporting, IRS

IRS Reporting Deadlines Fast Approaching

Hard though it may be to believe, here we are in January 2017... and if you're a self-funded employer plan sponsor, it's time to get serious about preparing your IRS Form 1095s. As you know, the Affordable Care Act (ACA) and its supporting regulations… more »

11/21/16

  10:41:00 pm, by MedBen5   , 263 words,  
Categories: News, Health Care Reform, Taxes, IRS

IRS Extends ACA 1095 Employer Reporting Deadline

On Friday, November 18, 2016, the Internal Revenue Service released Notice 2016-70, effectively extending the due date for furnishing IRS Forms 1095-B and 1095-C to individuals offered and/or covered under employer-provided health plans. The extended… more »

11/16/16

  08:34:00 pm, by MedBen5   , 263 words,  
Categories: Health Plan Management, Taxes, Consumer-driven Health Plans, Cost savings, IRS, Ancillary benefits

Doing FSA Homework Saves Members Money

The tax-free benefits of flexible spending accounts (FSAs) helps plan members to save money on their health care spending... but using FSAs to their maximum advantage requires a bit of prior planning. Many FSA members are currently deciding how much of… more »

10/31/16

  06:10:00 pm, by MedBen5   , 141 words,  
Categories: News, Consumer-driven Health Plans, IRS

IRS Announces 2017 FSA Contribution Maximums

Following lengthy speculation, the Internal Revenue Service (IRS) has at last formally announced the annual inflation adjustment for health flexible spending accounts (FSAs) for the 2017 tax year. The 2017 dollar limitation on voluntary employee… more »

10/17/16

  01:50:00 pm, by MedBen5   , 324 words,  
Categories: Health Care Reform, Taxes, Reporting, IRS

MedBen Ready to Help Clients Meet IRS Reporting Deadline

Hard though it may be to believe, we've already entered the final quarter of 2016. If you're a self-funded employer, that means it's time to get serious about preparing for a critical health care reform mandate: Providing the IRS with an accurate… more »

09/30/16

  03:27:00 pm, by MedBen5   , 292 words,  
Categories: Health Plan Management, Taxes, IRS

Cadillac Tax Out of Sight, But Shouldn't Be Out of Mind

With the implementation of the controversial Cadillac Tax postponed until 2020, it's easy for employers to put thoughts of it on the backburner... or hope that it simply goes away. But neither approach is a sound strategy, which is why MedBen recommends… more »

05/02/16

  05:13:00 pm, by MedBen5   , 145 words,  
Categories: News, Health Plan Management, Consumer-driven Health Plans, IRS

Little Change to 2017 HSA Limits

On April 29, the IRS released its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2017. Most of the amounts stay frozen in place from the previous year, with a small increase in single contributions being the… more »

04/26/16

  10:57:00 pm, by MedBen5   , 219 words,  
Categories: Health Care Reform, Taxes, IRS, MedBen University

MedBen Access Helps Rx Customers Be Savvy Shoppers

A recent Benefits Pro article makes the case that since the introduction of the Affordable Care Act, employers have been put "in the position of becoming compliance officers." And while it may be true that health care reform has loaded human resource… more »

03/28/16

  10:23:00 pm, by MedBen5   , 224 words,  
Categories: Announcements, Health Care Reform, Taxes, IRS

MedBen "ACA by the Numbers" Summary Available for Download

The Affordable Care Act recently celebrated the 6th anniversary of its passage. In the ensuing years, we've been subjected to a myriad of new regulations, amendments, clarifications and delays... not to mention, assorted taxes, fees and potential… more »

03/17/16

  05:49:00 pm, by MedBen5   , 188 words,  
Categories: News, Health Care Reform, Taxes, IRS

Study: Middle Class Will Bear Brunt of Cadillac Tax

A new study suggests that middle-class families will be hardest hit by the Affordable Care Act's unpopular "Cadillac" tax. Investors Business Daily reports the study indicates that the excise tax -- ostensively meant to discourage benefit-rich health… more »

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