Employers Facing Health Insurance Deadlines

The clock is ticking for Tommy Cain and thousands of other U.S. employers facing deadlines to make changes to the health insurance they offer their employees under the Affordable Care Act. Mr. Cain has already met one of the law’s key requirements: offer health insurance to at least 70% of full-time staffers by 2015, or […]

The IRS Issues Group Insurance Compliance Form Draft

The Internal Revenue Service has issued draft versions of the reporting forms most employers will begin using next year to show that their group health insurance plans comply with the health care reform law. The long-awaited draft forms, posted late Thursday afternoon to the IRS’ website, are the first practical application of employers’ health care […]

IRS Announces Inflation-Adjusted Increase for HSAs

The IRS released increases for HSAs and high-deductible health plans (HDHPs) for 2015. The maximum annual HSA contribution for self-only HDHP coverage will increase from $3,300 to $3,350. The maximum annual HSA contribution for family HDHP coverage will increase from $6,550 to $6,650. The age 55 catch-up contribution continues to be $1,000 The minimum HDHP […]

Health Care Coverage Cost and Tax Season Compliance

Are you an employer that offers or provide group health coverage to your workers?  Were you required to file 250 or more Forms W-2 for tax year 2012?  If so, an Affordable Care Act/IRS requirement to report health care coverage costs on Forms W-2 for 2013 applies.  What follows below is important information so that you can […]

ERISA Explains It All

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for retirement and health benefit plans in private industry. ERISA does not require any employer to establish a plan. It only requires that those who establish plans meet certain minimum standards. ERISA covers retirement, health and other welfare […]