- 1 min
IRS Releases Instructions for 2020 ACA Reporting
The Internal Revenue Service (IRS) released draft 2020 instructions related to forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. Employers should become familiar with these forms and instructions for reporting for the 2020 calendar year. However, these are draft versions only, and should not be filed with the IRS or relied upon for filing. To download the ACA Compliance Bulletin, please click here. The information contained in this bulletin is int
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- 1 min
ACA's Affordability Percentage Will Increase for 2021
The updated affordability percentages are effective for taxable years and plan years beginning Jan. 1, 2021. This is a slight increase from the affordability contribution percentages for 2020. As a result, some employers may have additional flexibility in setting their employee contributions for 2021 to meet the adjusted percentage. To download the ACA Compliance Bulletin, please click here. The information contained in this bulletin is intended to provide accurate and author
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- 1 min
Flexible Spending Accounts: Understanding Plan Provisions
Flexible spending account (FSA) participants can forfeit unused funds from their Health Care FSA or Dependent Care FSA if they don’t understand their plan provisions. It is important for everyone involved in FSAs to understand which plan provisions provide time to file claims after the end of the plan year, such as runout, and when the plan includes optional features that provide more time to incur expenses, such as grace period and rollover. To download the FSA Compliance Bu
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- 1 min
ACA Reporting Relief for 2020
On October 2, 2020, the Internal Revenue Service (IRS) issued a new notice that provides important guidance about the ACA reporting relief for the 2020 calendar year. To download the ACA Compliance Bulletin, please click here. Please be advised that any and all information, comments, analysis, and/or recommendations set forth above relative to the possible impact of COVID-19 on potential insurance coverage or other policy implications are intended solely for informational pur
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