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18 Aug 2015, 7:52 pm
A Fellow in the American College of Employee Benefit Counsel, past Chair and current Welfare Benefit Committee Co-Chair of the American Bar Association (ABA) RPTE Section Employee Benefits Group, Vice Chair of the ABA Tort & Insurance Practice Section Employee Benefits Committee, former Chair of the ABA Health Law Section Managed Care & Insurance Interest Group, an ABA Joint Committee on Employee Benefits Council Representative and Board Certified… [read post]
11 Aug 2015, 2:29 pm
The Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury (collectively, the Departments) today (August 11, 2015) jointly released updated information about how the Departments plan to develop rules to implement the data reporting rules needed to implement the transparency provisions of section 1311(e)(3) of the Affordable Care Act with respect to non-Exchange coverage, including health insurance issuers offering group and individual health insurance coverage… [read post]
3 Aug 2015, 12:07 pm
Since violation of these out-of-pocket maximums (as well as many other federal health benefit rules) can trigger an obligation for the employer to self-assess, self-report by filing a Form IRS Form 8928, and pay excise taxes of up to $100 per day, as well as expose the plan and its fiduciaries to ERISA lawsuits from covered persons, the Department of Labor or both, insurers and administrators also should review their group health plan provisions and their administration in… [read post]
28 Jul 2015, 8:05 am
Under the Internal Revenue Code, a business that fails to file a required Form 5500 can incur IRS penalties of up to $15,000 per return per plan year. [read post]
27 Jul 2015, 11:56 am
While under ERISA, group health plans and their responsible plan administrator or other applicable named fiduciary, not the sponsoring employer, generally bear the responsibility and liability for administering the group health plan in accordance with ACA’s claims and appeals and the other group health plan requirements covered by Form 8928, the Code’s extension of the Form 8928 filing requirement and imposition of significant excise taxes… [read post]
15 Jul 2015, 8:00 pm
For the same period, only 1044 IR-1 centrifuges (in six cascades) will remain at Fordow. [read post]
15 Jul 2015, 5:00 am
The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils. [read post]
11 Jul 2015, 2:14 pm
The heavy reliance by group health plans and health insurers upon internet based applications and portals to carry out online enrollment, claims administration and payment, reporting and a host of other key health plan functions makes it particularly important for health plans, their employer or other sponsors, fiduciaries, vendors, and other involved in health plan administration or using or accessing health plan data to verify and ensure the internet data sharing and other applications… [read post]
30 Jun 2015, 2:43 pm
A Fellow in the American College of Employee Benefit Counsel, past Chair and current Welfare Benefit Committee Co-Chair of the American Bar Association (ABA) RPTE Section Employee Benefits Group, Vice Chair of the ABA Tort & Insurance Practice Section Employee Benefits Committee, former Chair of the ABA Health Law Section Managed Care & Insurance Interest Group, an ABA Joint Committee on Employee Benefits Council Representative and Board Certified… [read post]
30 Jun 2015, 10:53 am
Businesses and their leaders who have held off updating their health plan compliance and expect to delay completion of these activities until the beginning of their upcoming health plan year are likely to be in for a rude awakening, however, particularly since a much underappreciated Sarbanes-Oxley style provision of the Internal Revenue Code will require employer or other group health plan sponsors to self-report, self-assess and pay stiff excise tax penalties when filing their… [read post]
26 Jun 2015, 12:25 pm
She also continuously helps employers, insurers, administrative and other service providers, their officers, directors and others to manage fiduciary and other risks of sponsorship or involvement with these and other benefit and compensation arrangements and to defend and mitigate liability and other risks from benefit and liability claims including fiduciary, benefit and other claims, audits, and litigation brought by the Labor Department, IRS, HHS, participants and beneficiaries, service… [read post]
26 Jun 2015, 6:37 am
New Mexico – Transparency-Pushing Nonprofit Discloses DonorsNMPolitics – Heath Haussamen | Published: 6/19/2015 The IRS does not require most nonprofits to disclose their donors publicly even if they engage in lobbying or issue advocacy. [read post]
25 Jun 2015, 3:02 pm
Under Code Section 6039D, businesses sponsoring group health plans in 2014 must self-assess the adequacy of their group health plan’s compliance with a long list of ACA and other federal mandates in 2014 and to the extent that there exist uncorrected violations, to self-report these violations and self-assess on IRS Form 8928 and pay the required excise tax penalty of $100 for each day in the noncompliance period with respect to each individual to whom such failure… [read post]
16 Jun 2015, 2:54 pm
A current or former author and advisory board member of HR.com, Insurance Thought Leadership, SHRM, BNA and several other the prominent publications, Past Chair of the ABA RPTE Employee Benefit & Other Compensation Arrangements Group, Co-Chair and Past Chair of the ABA RPTE Welfare Plan Committee, Vice Chair of the ABA TIPS Employee Benefit Plans Committee, Vice President of the North Texas Health Care Compliance Professionals Association, Past Chair… [read post]
11 Jun 2015, 12:24 pm
Currently, the IRS obtains this analytical information from some – but not all – groups. [read post]
6 May 2015, 9:35 am
By filing late returns by June 2, eligible filers filing under the program can avoid the potentially significant penalities that the IRS otherwise might impose for non- or late filing of the required returns. [read post]
6 May 2015, 9:15 am
To help clarify some common questions about the treatment of multiple employer plans in its determination letter program, the Internal Revenue Service (IRS) on March 30, 2015 published a new set of “Frequently Asked Questions” (FAQs) that provide some insights about the IRS’ current position on some of these issues, subject to the understanding that IRS does not consider its answers to frequently asked questions as appropriate for citation as legal… [read post]
6 May 2015, 8:49 am
A current or former author and advisory board member of HR.com, Insurance Thought Leadership, SHRM, BNA and several other the prominent publications, Past Chair of the ABA RPTE Employee Benefit & Other Compensation Arrangements Group, Co-Chair and Past Chair of the ABA RPTE Welfare Plan Committee, Vice Chair of the ABA TIPS Employee Benefit Plans Committee, Vice President of the North Texas Health Care Compliance Professionals Association, Past Chair… [read post]
5 May 2015, 4:55 am
By the way, the tax group does not know the answer to this. [read post]
9 Apr 2015, 9:01 pm
A current or former author and advisory board member of HR.com, Insurance Thought Leadership, SHRM, BNA and several other the prominent publications, Past Chair of the ABA RPTE Employee Benefit & Other Compensation Arrangements Group, Co-Chair and Past Chair of the ABA RPTE Welfare Plan Committee, Vice Chair of the ABA TIPS Employee Benefit Plans Committee, Vice President of the North Texas Health Care Compliance Professionals Association, Past Chair… [read post]
