Get answers to your most urgent questions about COVID-19 and its impacts to employee benefits, human resources, risk management and other issues. Our page provides articles and webinars on critical topics as well as other resources.
The IRS limits how much can be contributed to an employee’s health savings account (HSA) each year. In 2021 those amounts are $3,600 for employees with single high-deductible health plan (HDHP) coverage and $7,200 for those with family HDHP coverage. Sure, those amounts change from year to year but otherwise it seems very straightforward. And in most cases, it is. But there are several hidden assumptions built into those annual maximum limits. Change any of those facts and the maximum contribution limit changes as well.
Download this eBook today: HSA Contribution Limits: Simple to Complex
We receive questions from employers almost daily on how to comply with these complex reporting requirements in various common (and unusual) situations and scenarios. To help with those questions, we have created 25 different ACA reporting tips for employers to use as guides when completing their Forms 1094C/1095C. These tips address some of the most common ACA reporting issues employers face, including helpful hints, tips and samples of completed Forms 1094C/1095C.
Open enrollment for employee benefits is around the corner, which involves many moving pieces at the HR level, including plan decisions, benefit implementation, notice requirements and other communications. It’s important that employers understand their compliance requirements as well as have a process in place to ensure these requirements are met. Here are six tips for improving compliance, cost savings, and implementation.
As you may have seen in various media reports on Friday, December 14, 2018, a federal district court in Texas ruled that the entire Affordable Care Act (ACA) was unconstitutional. Does that mean employers can stop working on their 2018 1094C/1095C reports, ignore employer-shared responsibility penalty notices from the IRS, and start kicking adult children and individuals with pre-existing health conditions off their health plans? Not just yet.
Thirty-three states and the District of Columbia have legalized medical marijuana in one form or another, and ten states and the District of Columbia have legalized it for recreational use to varying degrees. As recent successful ballot initiatives have shown, with three new states approving some form of marijuana use in 2018 alone, marijuana is becoming increasingly accepted across the country. Which means it’s becoming increasingly likely that eventually you will have to confront how this panoply of marijuana laws impacts your workplace. And — surprise, surprise — that turns out to be much more complicated than it may at first seem.
As many employers work feverishly through open enrollment for the 2019 plan year, it’s important not to forget about every benefit professional’s other favorite year-end activity — 1094C/1095C reporting! The end of the individual mandate penalty in 2019 does not change an employer’s 1094C/1095C reporting obligations for 2018 when the individual mandate was still in effect. More importantly, the information reported on the 1094C/1095C forms relates primarily to the employer mandate (also known as the Employer Shared Responsibility Penalty or ESRP) which is not going away.
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