DOL Finalizes Rule to Expand Association Health Plans

New York State Update 8/20/18:  New York State confirmed that state insurance laws preempt ERISA; therefore, existing New York State laws which prohibit small group or individual associations still take precedent over the Department of Labor regulations. Refer to Department of Financial Services Circular Letter No. 10 from July 27, 2018 addressing Association Health Plans in… Continue reading DOL Finalizes Rule to Expand Association Health Plans

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. Currently, employers are not required to electronically file their returns with the IRS unless they are required to file at… Continue reading IRS Issues Proposed Rule to Expand Mandatory Electronic Filing

ACA Affordability Percentage Announced for 2019

The Internal Revenue Service (IRS) issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2019, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed 9.86%… Continue reading ACA Affordability Percentage Announced for 2019

HSA Contribution Limits Announced for 2019

The Internal Revenue Service (IRS) has announced the 2019 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code. HSA Contribution (single/family) 2018: $3,450 / $6,900 2019: $3,500 / $7,000 HDHP Min Deductible (single/family) 2018: $1,350 / $2,700 2019: $1,350 / $2,700 HDHP Out-of-Pocket Max (single/family) 2018: $6,650 / $13,300 2019: $6,750 / $13,500

New York State Passes Strict Workplace Harassment Laws

Effective Oct. 9, 2018, all employers in New York state must adopt a written policy and conduct annual employee training on sexual harassment in the workplace. These requirements were enacted as part of the state’s 2019 budget on April 12, 2018. The law also prohibits employers from requiring arbitration to resolve sexual harassment claims under… Continue reading New York State Passes Strict Workplace Harassment Laws

UPDATE: 2018 HSA Contribution – ACTION REQUIRED

AS OF APRIL 26, 2018: For 2018, taxpayers with family coverage under an HDHP may treat $6,900 as the maximum deductible HSA contribution. A change in the inflation adjustment calculations for 2018 under the Tax Cuts and Jobs Act, reduced the maximum deductible HSA contribution for taxpayers with family coverage under an HDHP by $50,… Continue reading UPDATE: 2018 HSA Contribution – ACTION REQUIRED