Benefits Forward

The IRS will begin requiring the electronic payment of certain user fees including on request for a Private Letter Ruling beginning June 15, 2017. Document Excerpt Beginning June 15, taxpayers requesting letter rulings, closing agreements and certain other rulings from the Internal Revenue Service will need to make user fee payments electronically using the federal […]

IR 2017-102 announces that certain user fees, including when requesting a letter ruling or a closing agreement, will have to be paid electronically through pay.gov Document Excerpt Beginning June 15, taxpayers requesting letter rulings, closing agreements and certain other rulings from the Internal Revenue Service will need to make user fee payments electronically using the […]

Chief Counsel Memorandum advises as to the treatment of benefits paid under an employer-provided self-funded health plan where the average amounts received by the employees for participating in a health-related activity predictably exceeds the after-tax contributions by the employees. Document Excerpt Yes, the amounts are included in income and wages for reasons including, but not […]

Revenue Procedure 2017-37 sets for the 2018 adjusted for Health Savings Accounts. Document Excerpt This revenue procedure provides the 2018 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. Link https://www.irs.gov/pub/irs-drop/rp-17-37.pdf

Revenue Procedure 2017-36 provides indexing adjustments for certain provisions under the Affordable Care Act including under Sections 36B and 5000A. Document Excerpt This revenue procedure provides indexing adjustments for certain provisions under sections 36B and 5000A of the Internal Revenue Code. In particular, it updates the Applicable Percentage Table in § 36B(b)(3)(A)(i) to provide the […]

The IRS issued an internal memorandum to its auditors on calculating the maximum loan amount where there is or has been a prior loan. Document Excerpt This memorandum directs EP Examinations staff to determine, as set forth below, the amount available for a loan where the participant has received multiple loans during the past year […]

The Agencies released this FAQ on Mental Health Parity Implementation. Document Excerpt Set out below is an additional frequently asked question (FAQ) regarding implementation of the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA), as amended by the Affordable Care Act and the 21st Century Cures Act (Cures […]

The DOL releases a set of Frequently Asked Questions on its conflict of interest regulations scheduled to become applicable June 9, 2017. Document Excerpt The following FAQs provide additional information on the transition period from June 9, 2017 to January 1, 2018.1 This guidance, like the Fiduciary Rule and related exemptions, is generally limited to […]

Field Assistance Bulletin 2017-02 provides the DOL’s temporary enforcement policy on the Fiduciary conflict of interest rule to become effective June 9, 2017. Document Excerpt Accordingly, during the phased implementation period ending on January 1, 2018, the Department will not pursue claims against fiduciaries who are working diligently and in good faith to comply with […]

The Advisory Opinion holds that, at least in form, the employer subgroup would form a valid group or association. Document Excerpt Assuming that the Consortium’s by-laws and the instruments governing the Plan and trust are adopted as described in this letter, it is the view of the Department that the participating employer members of the […]

CMS has announced that small businesses will be allowed to bypass the SHOP, the Affordable Care Act Marketplace designed for small businesses. Document Excerpt CMS will be exploring a more efficient implementation of the Federally-facilitated SHOP Marketplaces in order to promote insurance company and agent/broker participation and make it easier for small employers to offer […]

The HHS has released its final marketplace stabilization rule which includes a broader ability to offer policies that are below the ACA standards as well as a reduced open enrollment period. Document Excerpt This rule finalizes changes that will help stabilize the individual and small group markets and affirm the traditional role of State regulators. […]

The PBGC releases a series of Questions and Answers on its Risk Mitigation and Early Warning Program. Document Excerpt As part of posting our updated Risk Migration & Early Warning Program information, we asked stakeholders for feedback. Below are some Questions and Answers for the most common questions and comments we received. Link https://www.pbgc.gov/prac/risk-migration-q-and-a

The PBGC announces updates to its civil penalties. Document Excerpt The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust the penalties provided for in sections 4071 and 4302 of the Employee Retirement Income Security Act of 1974. This action is being taken in accordance with the Federal Civil Penalties Inflation […]

The American Bar Association Joint Committee on Employee Benefits releases its annual Q & A session with the PBGC. Document Excerpt The following questions and answers are based on informal discussions between private-sector representatives of the JCEB and PBGC staff members. The questions were submitted by ABA members in advance to the agency and the […]

The PBGC releases updated guidance on the applicable interest rate to be used to value benefits in a single employer plan under Section 4044 for the first quarter of 2017. Document Excerpt This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the […]

The PBGC has announced higher guaranteed benefit limits for 2017. Document Excerpt WASHINGTON – The Pension Benefit Guaranty Corporation announced today that the guarantee limit for single-employer plans that fail in 2017 will be higher than the limit that applied for 2015 and 2016. Link http://www.pbgc.gov/news/press/releases/pr16-16.html

The PBGC has announced premium rates for 2017. Document Excerpt The per-participant flat premium rate for plan years beginning in 2017 is $69 for single-employer plans (up from a 2016 rate of $64) and $28 for multiemployer plans (up from a 2016 rate of $27). For plan years beginning in 2017, the variable-rate premium (VRP) […]

The Supreme Court unanimously ruled in favor of an expanded church plan definition that includes certain plans established by religiously affiliated entitles. Document Excerpt Instead, it added language whose most naturalreading is to enable a plan “maintained” by a principal-purpose organization to substitute for a plan both “established” and “maintained” by a church. And as […]

CMS has announced that small businesses will be allowed to bypass the SHOP, the Affordable Care Act Marketplace designed for small businesses. Document Excerpt CMS will be exploring a more efficient implementation of the Federally-facilitated SHOP Marketplaces in order to promote insurance company and agent/broker participation and make it easier for small employers to offer […]

The Fourth Circuit affirms the district court’s decision concluding that the fiduciaries’ decision to remove Reynolds stock did not cause the losses because a prudent fiduciary would have made the same divestment decision at the same time. Document Excerpt The “would have” standard does not demand such an impossible feat. Having a standard in which […]

The CBO has released its estimates of the direct cost and effect of the American Health Care Act passed by the House. Document Excerpt CBO and the staff of the Joint Committee on Taxation (JCT) have prepared an estimate of the direct spending and revenue effects of H.R. 1628, the American Health Care Act, as […]

The House, on a partisan vote, passed the American Health Care Act designed to repeal and replace the Affordable Care Act. Document Excerpt Link http://strategichealthcare.net/wp-content/uploads/2017/05/AHCA-Section-by-Section-Summary-FINAL.pdf

The HHS has released its final marketplace stabilization rule which includes a broader ability to offer policies that are below the ACA standards as well as a reduced open enrollment period. Document Excerpt This rule finalizes changes that will help stabilize the individual and small group markets and affirm the traditional role of State regulators. […]