December 27, 2017: The IRS is extending until March 2, 2018, the due date for providing IRS Form 1095 to the employees. As you will recall, large employers (i.e. employers with 50 or more full-time and full-time equivalent employees) plus employers with self-funded health plans have to prepare, distribute and file IRS Form 1094 and IRS Form 1095. Note that the IRS filing due date for IRS Form 1094 is unchanged. Below is a breakdown of the due... Read More
COMPLIANCE UPDATE DECEMBER 2017 TAX REFORM UP IN THE AIR The Republican controlled Congress was unable to pass health care reform but it seems as though they may be able to enact tax reform. Both the House and Senate passed legislation but there are differences between the two bills. So the next step is to reconcile the differences into one version that both the House and Senate can pass. The first article is a chart... Read More
Compliance Update November 2017 The Holiday Season Has Arrived – Good News! Each year around this time I am pleased to announce the perfect Holiday gift has arrived. Yes; my book, the 2017/2018 Welfare Benefits Guide is now available. 2017-2018 Welfare Benefits Guide This two-volume treatise makes the perfect stocking stuffer for that Human Resource professional on your gift-giving list. The Holiday Season Has Arrived – Bad News! One of the main components of the... Read More
October 2017 Compliance Update pdf Trump Takes Aim at Obamacare Congress was unable to enact legislation to repeal and replace the Affordable Care Act aka Obamacare. Therefore, President Trump has taken it upon himself to dismantle President Obama’s signature legislation. The first move was in the form of an executive order directing the Department of Health and Human Services, Department of Labor and Treasury Department to issue rules designed to lower premiums for healthier individuals... Read More
SEPTEMBER 2017 COMPLIANCE UPDATE PDF HCR – HERE TO STAY FOR TIME BEING The Republican controlled Congress and White House have been unable to repeal and replace Obamacare. Until that happens, the Affordable Care Act remains the law of the land even though President Trump promised to repeal and replace it. ALE determination in five steps One of the most unpopular aspects of the current law is the employer mandate that requires larger employers... Read More
August 2017 Compliance Update pdf Health Care Reform Fails!!!! In a dramatic late night vote, the Republican controlled Senate failed to pass health care reform. Mitch McConnell introduced three separate bills. The first was Repeal and Replace which would have repealed the Affordable Care Act aka Obamacare. The second was simply Repeal which would have completely repealed Obamacare but with a two year delayed effective date for the repeal. The third attempt was a “Skinny... Read More
July 2017 Compliance Update PDF Normally the newsletter talks about a number of recent topics. However, I wanted to devote this edition to just two topics because they are important and I did not want them to get lost in the shuffle. Form 5500 Filing Deadline The ERISA filing rules applicable to welfare benefit plans are very clear. You have to file an annual report (i.e. Form 5500) if there were at least 100 participants... Read More
June 2017 MB Compliance Update pdf Health Care Reform – Senate Proposal The Republicans in the House, in a close vote with no Democratic support, were able to pass legislation designed to repeal and replace the Affordable Care Act aka Obamacare. So the next stop along the way is for the Senate to pass a bill. CAN SENATE GOP GET THE VOTES? WHAT ACHA MEANS TO EMPLOYERS It is again expected no Democrats will support... Read More
May 2017 MB Compliance Update pdf House Passes Version of Obamacare Repeal and Replace Keeping the Republicans’ longstanding campaign promise to repeal and replace the Affordable Care Act aka Obamacare, the House in a close vote with no Democratic support passed legislation which would essentially gut President Obama’s signature legislation. AHCA Summary The proposed bill is extremely unpopular with fewer than 20% of the American people supporting the changes. The next step in the process... Read More
The contract between Premier Health Network Physicians and UnitedHealthcare is set to expire on May 14, 2017. The Premier Physician Network recently announced new out-of-pocket fees for their UnitedHealthcare patients. Keep in mind that this does not extend to lab or imaging facilities, where balanced billing could apply. For details, please refer to the following letter from Premier Physician Network: Premier Physicians announce options for UHC patients