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Sarah Borders
Feb 3, 20203 min read
What you need to do with an IRS penalty letter
Over the past few years, many employers have received a specific letter (form Letter 226J) from the IRS assessing a proposed Employer...
Sarah Borders
Jan 20, 20202 min read
Check and double check when (and how) you send out your COBRA notices
There are two very important COBRA notices: the COBRA initial notice (also called the COBRA general notice), and the COBRA election...
Sarah Borders
Jan 14, 20202 min read
Employer-provided group term life requires taxable income be added back to the employee
If an employee has more than $50,000 in employer-provided group term life coverage, then the value of the coverage that exceeds $50,000,...
Sarah Borders
Jan 7, 20202 min read
IRS announces relief on some ACA reporting requirements
The IRS recently announced limited relief from some of the 2019 ACA reporting requirements (IRC Sections 6055 and 6056). Specifically,...
Sarah Borders
Dec 30, 20191 min read
Make sure to include health costs on employee W-2s
If an employer filed more than 250 W-2 forms during the prior year, the aggregate cost of coverage must be included in box 12 of each...
Sarah Borders
Dec 23, 20192 min read
December 2019 ACA updates - what do they mean for me?
Two spending bills aimed at avoiding a government shutdown were recently passed by Congress and signed into law by President Trump. Of...
Sarah Borders
Dec 16, 20192 min read
Calendar Plan Year Reminders - Don't Forget!!
As 2019 draws to a close, we wanted to provide employers and consultants a list of some of the most frequently forgotten compliance...
Sarah Borders
Dec 9, 20193 min read
What does an employer do when an employee fails to open an HSA?
If an employer offers an HSA, the employer should create an administrative policy addressing situations for both active and terminated...
Sarah Borders
Dec 4, 20192 min read
Can an individual delay Medicare to preserve HSA eligibility?
First, it’s best for an employer to point an employee directly to Medicare with specific questions to avoid being given incorrect...
Sarah Borders
Nov 26, 20192 min read
Can an employer allow pre-tax premium payments for employees’ worksite products?
Beginning back in 2014, cafeteria plans cannot be used to pay pre-tax premiums for individual health policies that provide major medical...
Sarah Borders
Nov 21, 20194 min read
Can an employer implement a Spousal or Dependent Surcharge or Exclusion?
Let's start by clarifying: there is a significant difference between spousal surcharges and spousal carve-outs. Let's learn more.
Sarah Borders
Nov 12, 20191 min read
Direct Primary Care and HSA Eligibility Part 2: What is "Coverage?"
More information, along with some information on the clarifications, can be found in last week's blog post.
Sarah Borders
Nov 12, 20193 min read
Direct Primary Care and HSA Eligibility
In order to open and contribute to an HSA, an individual can have no other coverage (other than preventive care) before the statutory...
Sarah Borders
Oct 28, 20192 min read
What's the employer's role with HSA compliance?
Employer HSA contributions are excludable from an employee's gross income, and are not subject to income tax withholding, FICA, FUTA, or...
Sarah Borders
Oct 22, 20192 min read
What are some rules to be aware of with HRAs?
Health reimbursement arrangements (HRAs) allow a tax-advantaged way for an employer to reimburse an employee’s or dependent’s qualified...
Sarah Borders
Oct 13, 20192 min read
Which notices should employers give out at open enrollment?
Since the majority of health plans go through open enrollment during the 4th quarter, it is a good idea to review which notices should be...
Sarah Borders
Oct 7, 20192 min read
Medicare Part D Creditable Coverage Notices must be sent before Oct 15th
Employers must send Medicare Part D notices to all Medicare-eligible individuals before October 15, 2019, regardless of the employer's...
Sarah Borders
Sep 29, 20191 min read
The ROI of Compliance
Regardless of industry, executives tend to focus on sales. Today's video outlines why Compliance isn't just a reactionary issue: it's...
Sarah Borders
Sep 22, 20192 min read
Employers must consider specific rules on how to spend MLR rebate checks
Carriers are required to send out Medical Loss Ratio (MLR) payments to employers by September 30th. As a quick reminder, the ACA says...
Sarah Borders
Sep 16, 20191 min read
IRS Confirms Employer Mandate Enforcement will Continue
The IRS recently released a letter confirming that they will continue to enforce the employer mandate. The letter was in response to...
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