HIGHLIGHTS

• The IRS reduced the HSA contribution limit for 2018 for individuals with family HDHP coverage by $50 to $6,850.
• All other HSA and HDHP limits for 2018 remain the same as those previously announced by the IRS.
• Employees with family HDHP coverage may need to change their HSA elections to comply with the new limit.

Click here to view the full article

A sure way to avoid ACA-IRS Reporting Fines at your fingertips.

HIGHLIGHTS

• Employers can no longer take a tax deduction for qualified transportation fringe benefits.
• Except for bicycle commuting reimbursements, qualified transportation benefits are still nontaxable to employees.
• Employers that provide paid family and medical leave may qualify for a temporary tax credit.

Click here to view the full article

On Dec. 22, 2017, the Internal Revenue Service issued Notice 2018-06 to:

On Dec. 20, 2017, the tax reform bill, called the Tax Cuts and Jobs Act, passed both the U.S. Senate and the U.S. House of Representatives. The bill is expected to be signed into law by President Donald Trump shortly.

HIGHLIGHTS

• The IRS issued guidance on the employer shared responsibility enforcement process.
• The IRS plans to issue Letter 226J to propose and assess employer shared responsibility penalties.
• No penalties have been assessed under the employer shared responsibility rules at this time.

Click here to view the full article

HIGHLIGHTS

• Employees’ salary reduction contributions to health FSAs are subject to a maximum dollar limit.
• The initial dollar limit was $2,500. For 2017, the dollar limit was increased to $2,600.
• For the 2018 plan year, the health FSA dollar limit will be further increased to $2,650.

Click here to view the full article.

HIGHLIGHTS

• The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.
• Many of these limits will increase for 2018.
• In 2018, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts.

Click here to view the full article

The ACA has made a number of significant changes to group health plans since the law was enacted in 2010. Certain changes to some ACA requirements take effect in 2018 for employers sponsoring group health plans, such as increased dollar limits. To prepare for 2018, employers should review upcoming requirements and develop a compliance strategy.

On Oct. 6, 2017, the Departments of Labor, Health and Human Services and the Treasury (Departments) issued two interim final rules expanding certain exemptions from the Affordable Care Act’s (ACA) contraceptive coverage mandate.