Category Archives: Employee Benefits

January 27, 2017- Compliance Observer Alert- President Trump’s ACA Executive Order

January 27, 2017 President Trump’s ACA Executive Order Last week, as promised during his campaign, President Trump officially took a first step toward unraveling the ACA (the “Act”). In his first act as President, Trump signed  an Executive Order broadly directing federal agencies with authority and responsibility under the Act to waive, defer, grant exemptions […]

ACA Reporting Deadline Delayed

In mid-November, the Internal Revenue Service (IRS) issued Notice 2016-70, which extends the deadline for furnishing forms under Sections 6055 and 6056 for 2016 and extends good-faith transition relief from penalties related to 2016 Section 6055 and 6056 reporting. What Is Good-faith Transition Relief? In determining good faith, the IRS will take into account whether […]

November 21, 2016- Compliance Observer Alert- Welcome Extension for Furnishing ACA Statements and Penalty Relief

Welcome Extension for Furnishing ACA Statements and Penalty Relief  The IRS has extended the deadline for furnishing individual statements under Sections 6055 and 6056 for 2016 and has also extended good-faith transition relief from penalties related to 2016 information reporting under Sections 6055 and 6056. Announced in NOTICE 2016-70, the IRS extended the due date […]

November 18, 2016- Compliance Observer Alert- The Future of the ACA and Employee Benefit Plan

November 18, 2016   The Future of the ACA and Employee Benefit Plans It’s been over a week since the election results came in and since then, you have likely been inundated with emails, seen many television interviews, and heard other news sources espousing predictions of what is on the horizon for employee benefit plans, […]

November 7, 2016- Compliance Observer Alert- 2016 Reinsurance Fees are Due

November 7, 2016 2016 REINSURANCE FEES ARE DUE The deadline to submit your 2016 annual enrollment counts and schedule your 2016 reinsurance payment(s) is November 15, 2016.  This marks the third and final year to pay the reinsurance fees. Sponsors of self-insured group health plans are responsible for paying the reinsurance fees. If you are […]

Sep 16, 2016 – Compliance Observer Alert – Year End Compliance Requirements & Deadlines

September 16, 2016 Year End Compliance Requirements & Deadlines Key benefit requirements and deadlines for 2016. September Summary Annual Report (SAR) – A narrative summary of your Form 5500, including a statement of the right to receive the annual report, must be distributed to plan participants by the last day of the ninth month following […]

Aug 26, 2016 – Compliance Observer Alert – New ACA Nondiscrimination Rules

August 26, 2016 What Do the New ACA Nondiscrimination Rules Mean to You? Applies to: All Employers On May 18, 2016, we published this Compliance Alert detailing the requirements of the new ACA Nondiscrimination Rules (Section 1557 of the ACA) and to whom the rules apply. Since then, we have received many questions regarding how these […]

Jul 8, 2016 – Compliance Observer Alert – DOL Increases Penalties for Health Plan Violations

July 8, 2016 DOL Increases Penalties for Health Plan Violations Applies to: All Employers Background The 2015 Bipartisan Budget Act (the “Act”) includes provisions to strengthen the civil monetary penalties under various federal laws, including the Employee Retirement Income Security Act (“ERISA”). Pursuant to the Act, the Department of Labor (“DOL”) must adjust ERISA’s civil […]

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