Earlier today, Congress passed a sweeping omnibus spending bill including government appropriations and tax extenders. Included in the 2,200-plus page bill are four provisions of particular interest to employers that sponsor group benefit plans. Cadillac Tax Delayed Until 2020 The Affordable Care Act (ACA) imposes a 40-percent excise tax on the value of employer-provided health … Continued
By Danielle Capilla, Chief Compliance Officer at United Benefit Advisors UBA has created a template letter that employers may use to draft written communication to employees regarding what to expect in relation to IRS Forms 1095-B and 1095-C, and what employees should do with a form or forms they receive. The template is meant to … Continued
On October 21, 2015, the Internal Revenue Service (IRS) announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change in 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment. The … Continued
Beginning in 2015, under the Patient Protection and Affordable Care Act (ACA), large employers must offer affordable, minimum value coverage to their full-time employees or potentially pay a penalty.
Under the Patient Protection and Affordable Care Act, individuals are required to have health insurance while applicable large employers are required to offer health benefits to their full-time employees. Employers with 50 or more full-time or full-tim…
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors On February 18, 2015, the Internal Revenue Service (IRS) issued Notice 2015-17. This Notice addresses employer payment or reimbursement of individual premiums in light of the requirements of the Patient Protection and Affordable Care Act (PPACA). For many years, employers were permitted to reimburse premiums … Continued
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors Beginning in 2018, plans that provide coverage that exceeds a threshold will owe an excise tax that is frequently referred to as the “Cadillac tax.” The threshold generally will be $10,200 for single benefits and $27,500 for benefits provided to an employee, retiree, or member … Continued
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