With a new administration taking office that is sure to take a dramatically different approach to healthcare than the last, many employers across the country are eagerly anticipating word on if/how things will change with regards to the Affordable Care Act (ACA). We have heard from of our clients over the past couple of months on this very topic, so our healthcare compliance team has put together a summary of what exactly the now-famous phrase "repeal and replace" means by exploring what can and/or could be changed and how the Trump Administration and Congress would do it. We hope you find this piece helpful in clarifying where healthcare in America stands at this moment.
A U.S. District Court has ruled that Edison International failed in its fiduciary duty by including high-fee retail share mutual funds in its 401(k) plan when lower-fee institutional ones were available.
In early 2016, employers with 50 or more full-time equivalent employees are required to submit new tax forms to employees and the IRS for the 2015 plan year. (Note that in December 2015, deadlines for 1095 employee distribution and 1094 filings were extended.*) In the video, Don Garlitz, Senior Vice President, bswift, answers key compliance questions including: Should taxpayers receive Form 1095 if they are not covered? What effects do employer wellness programs have on reporting plan affordability to the IRS? And more.
*Learn more about these changes from U.S. News and World Report.