Benefits Forward

The IRS has issued proposed regulations regarding the Affordable Care Act’s comparative effectiveness fee. Document Excerpt This document contains proposed regulations that implement and provide guidance on the fees imposed by the Patient Protection and Affordable Care Act on issuers of certain health insurance policies and plan sponsors of certain self-insured health plans to fund [...]

Notice 2012-36 provides guidance as to the corporate bond weighted average interest rate and permissible range under Section 412(b)(5)(B)(ii)(II) in effect for plan years beginning before 2008. Document Excerpt This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the [...]

Notice 2012-33 requests comments on the reporting requirements applicable to large employers under Section 6056 as added by the Affordable Care Act. Document Excerpt  This notice invites comments on reporting under § 6056 of the Internal Revenue Code for applicable large employers (as defined in § 4980H(c)(2)) that are subject to § 4980H. Section 6056 [...]

Notice 2012-32 requests comments on the reporting requirements for employers providing minimum essential coverage. Document Excerpt This notice invites comments concerning the reporting requirements under § 6055 of the Internal Revenue Code for health insurance issuers, government agencies, employers that sponsor self-insured plans, and other persons that provide minimum essential coverage to an individual. Link [...]

The IRS has released Notice 2012-31 which provides proposed methods that ultimate guidance may use to determine whether employer coverage constitutes minimum value under the Affordable Care Act. Document Excerpt  This notice describes and requests comments on several possible approaches to determining whether health coverage under an eligible employer-sponsored plan, as defined in § 5000A [...]

Revenue Procedure 2012-26 provides the 2013 inflation adjusted deduction limits for health savings accounts (HSA). Document Excerpt  This revenue procedure provides the 2013 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. Link http://www.irs.gov/pub/irs-drop/rp-12-26.pdf

Notice 2012-29 announces that the IRS anticipates issuing guidance relating to the applicability of the normal retirement age rules to governmental plans. Document Excerpt The IRS and the Treasury Department anticipate issuing guidance relating to the applicability of the normal retirement age rules to governmental plans (as defined in §414(d)). This notice describes and invites [...]

Notice 2012-28 provides the monthly update to the weighted average interest rate. Document Excerpt This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code as in effect for plan years beginning before 2008. It also provides [...]

IRS’ current COBRA Audit techniques and examination guide. Document Excerpt Published Date: March 2012 NOTE: This guide is current through the publication date. Since changes may have occurred after the publication date that would affect the accuracy of this document, no guarantees are made concerning the technical accuracy after the publication date. Link http://www.irs.gov/businesses/small/article/0,,id=255893,00.html

Most recent IRS Employee Plans News includes a discussion of the guidance encouraging annuities in defined contribution plans as well as a reminder of the need to adopt pre-approved defined benefit plans by April 30. Document Excerpt Link http://www.irs.gov/pub/irs-tege/epn_2012_1.pdf