Regulation

SHRM members voice concerns over the House reform plan, which eliminates the tax exclusion for tuition assistance up to $5,250 a year.

Asked directly whether she can vote for the measure as written, Collins said, “I haven’t reached that conclusion yet.”

As of Monday, small employers looking to offer tax-free plans to cover workers’ insurance premiums and healthcare expenses will have to follow extensive new compliance rules.

With employees now seeking targeted, personalized options, employers should turn to solutions such as medical opinion and decision support services.

Hours after House Republicans jubilantly passed their tax bill, their colleagues on the Senate Finance Committee approved a far different version – one that postpones difficult questions as lawmakers rush to refashion much of the U.S. economy on a tight deadline.

The reform legislation is good news for employers whose retirement options would have been limited by discussed retirement program changes.

As of Nov. 20, small employers looking to offer tax-free plans to cover workers’ insurance premiums and healthcare expenses will have to follow extensive new compliance rules.

Notices are scheduled to go out to employers by “late 2017” to instruct employers on how to process their mandated payments.

House Republicans passed their version of legislation to overhaul the U.S. tax code by slashing the corporate tax rate, lowering tax burdens for most individuals and adding an estimated $1.4 trillion to the federal deficit over the next decade.

A repeal of the ACA requirement in the Senate’s proposal doesn’t get the U.S. closer to much-needed market stability.