SCOTUS upholds subsidies, industry shifts attention to other ACA fixes
A 6-3 decision in favor of the HHS secretary in King v. Burwell means tax credits can continue to be used to purchase health coverage in states using the federal exchange.
Compliance
Senate bill aims to level the playing field for brokers and navigators
Brokers and agents welcome legislation introduced Tuesday to the Senate that would enhance broker access to information about marketplace enrollment, leveling the playing field with navigators and assisters.
Benefits Think Health reform and employer reporting: Another mountain to climb
Commentary: The vast majority of employers are not prepared to meet and some remain simply unaware of the employer mandates complex reporting obligations.
What employers need to know about Form 5500
Commentary: The filing deadline is approaching, and employers risk costly penalties for noncompliance. Heres what employers need to know, including updates to these forms, which must be filed by July 31.
Employee benefit lobbyists lay out legislative agenda
Ending the Cadillac tax, simplifying the reporting process and eliminating the automatic enrollment requirement are a few of the legislative recommendations the American Benefits Council is urging Congress to act on.
Is Aetna eliminating commissions on small-group business?
Benefit advisers in several states have received new fee arrangements from Aetna that eliminate commissions on small-group business, causing an uproar among brokers, many of whom question the legality of such a practice.
Benefits Think The minimum wage wave rides on
Commentary: Regardless of the federal minimum wage, companies must continue to comply with each states wage laws or face hefty fines and other penalties.
Small businesses remain in ACA delay limbo
Small-size employers with between 51 and 100 employees currently in large-business group health plans will have to transition to small-business group plans upon their renewal on or after Jan. 1, 2016.
Who is an ERISA fiduciary?
Even when plan fiduciaries hire outside service providers to manage the 401(k) plan, they still maintain fiduciary responsibility for certain functions.
IRS ability to verify ACA tax credit qualifications questioned
The Internal Revenue Service did not receive much of the information it needed early this tax season from health insurance exchanges to verify taxpayers qualifications to claim tax credits to subsidize buying health coverage, according to a new report.
More than 6M to lose nearly $2B per month if ACA subsides ruled illegal
A Supreme Court ruling in favor of the plaintiff in King v. Burwell would most affect Florida exchange subsides, although the impact would be far reaching, a Kaiser Family Foundation poll finds.
IRS monitoring shrinks, increasing compliance risk for plan sponsors
Hoping to get a green light from the IRS on a creative new plan design you are planning to implement or even just get reassurance that amendment you have made to your plan in response to new legislation are correct? Dont hold your breath.
Small-plan market to suffer under new fiduciary regime: U.S. Chamber of Commerce
Small businesses will pay a big price if the Department of Labors proposed changes to the fiduciary rules go into effect, says the U.S. Chamber of Commerce.
Fiduciary rule could impact brokers the most
Generalists and small-market plan sponsors are likely to be the most negatively affected, according to a retirement conference panel.
IRS clarifies ACA reporting requirements for large employers
Prompted by industry questions and concerns, the IRS has issued updated guidance to clarify ACA reporting requirements for applicable large employers, particularly those with special circumstances.
Too many barriers in health IT, state officials say
Too many barriers currently exist for data to be shared between government agencies and within the medical field, a group of top public officials said Wednesday in Washington.
IRS modifies rules on 401(k) elective deferral failures
401(k) plans with automatic contribution features no longer need to make the 50% corrective contribution with respect to elective deferrals that were not properly made.
Benefits Think Why get involved in ACA reporting?
By now, some of your clients have come to you with a problem: How do I address this tax filing for IRS 6055/56? For some reason, their payroll vendor is unable to deliver or wants an arm and a leg to do the filing. You hold out hope that somehow this will blow over and get resolved. But as we get into the summer months, a greater number of your clients lacking in options will
Michael Weiskirch
Employee Tech
The 7 criteria that will exclude agent fees from MLR
CMS says agent fees and commission cannot be excluded from issuer MLR reporting requirements unless these very specific criteria are met.
IRS guidance sought following hardship withdrawal, loan documentation warning
Defined contribution plan sponsors remain in regulatory limbo regarding their obligations to maintain detailed documentation surrounding employee 401(k) hardship withdrawals.