Regulation

Industry trade groups and associations flooded the DOL with suggested amendments and revisions to its proposed fiduciary rule, ahead of the July 21 deadline for comments.

Understanding these ACA compliance requirements and the tools necessary to track the required data can be confusing and overwhelming.

The ACA added new employer reporting requirements under Internal Revenue Code Sections 6055 and 6056, applying to employers that sponsor self-insured plans that provide minimum essential coverage regardless of size, and applicable larger employers.

The Department of Labor issued fresh guidance on how businesses should distinguish between employees and independent contractors, noting misclassification of employees has been on the rise throughout the U.S.

When mistakes are made on benefit plan audits, plan administrators can experience significant hardships, including rejections of Form 5500 filings, which can result in fines of up to $1,000 per day.

A group of lawmakers has introduced legislation to roll back guidance from the Treasury Department that prohibits employers from using stand-alone health reimbursement arrangements to reimburse employees for health care-related expenses.

Commentary: The ACA’s Cadillac tax is like a patient, powerful hurricane moving across the Atlantic. If it makes landfall, the impact will be dramatic.

Plan sponsors can choose from three outside providers: Mesirow Financial, Morningstar Associates and Wilshire Associates.

Commentary: Questions plan sponsors should be asking of their insurance carrier, payroll vendor and benefits technology provider in advance of the ACA’s information reporting requirements.

Known as Explanation No 9, the document is to be used in conjunction with Form 8387, Worksheet 9 – Determination of Qualification and Form 8399, Deficiency Checksheet 9.