IRS

Refresher on Those Events Permitting Election Changes Mid-Plan Year

Refresher on Those Events Permitting Election Changes Mid-Plan Year July 2023 The Group Health Plan may be drafted to permit an individual to change an election mid-year based on a permitted eve...

Tax Treatment of Certain Wellness Arrangements

Tax Treatment of Certain Wellness Arrangements July 2023 The IRS recently released Memorandum Number 202323006 (“the Memo”) which addresses the tax treatment of arrangements that claim to offer ...

Health Benefits for Different Classes of Employees

Health Benefits for Different Classes of Employees Can employers design health benefits differently for classes of employees? Employers may be thinking of providing health plans by ‘employee cla...

Webinar Replay: HSA Updates for 2024

HSA Updates for 2024 Recently the IRS released the HDHP requirements and HSA contribution limits for the 2024 calendar year. This webinar will share the 2024 numbers with you, and then, since HSA q...

IRS Announces 2024 Limits for HSAs and HDHPs

The Internal Revenue Service (IRS) announced (see Revenue Procedure 2023-23) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health p...

A Primer on Reporting PCORI Fees to the IRS

Fully insured carriers and most self-insured health plan sponsors must pay annual Patient-Centered Outcomes Research Institute (PCORI) fees to the IRS. They are also required to report the same on For...

IRS Announces 2022 Limits for HSAs and HDHPs

The Internal Revenue Service (IRS) announced (See Revenue Procedure 2021-25) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health p...

Employer Mandate Collection Efforts for 2018

Many employers have recently received a Letter 226J from the IRS proposing that an employer shared responsibility payment (ESRP) is owed for the 2018 calendar year, which means the IRS has wrapped up ...

IRS Suspends Requirement to Repay Excess Advance Payments of The 2020 Premium Tax Credit

Under the American Rescue Plan Act of 2021, taxpayers no longer have to increase their tax liability by their excess advance payments of the Premium Tax Credit for tax year 2020. A taxpayer's exce...

IRS Temporarily Increases Flexibility of Section 125 Cafeteria Plans

New IRS guidance makes temporary changes to section 125 cafeteria plans to provide tax relief and flexibility amid the COVID-19 pandemic. The IRS is extending the claims period for health flexible spe...

Compliance Alert: Employer Mandate Questions

LISI recently fielded two compliance questions on the employer mandate: Q.We have a group that’s no longer over 50 FTEs. Does the employer have to notify the insurance carrier to send the 1095-B fo...

IRS Extends Form 1095 Deadlines For 2018 Reporting

The IRS has released Notice 2018-94, which extends the deadline for employers to provide individuals with Form 1095-B/1095-C for the 2018 reporting year. The deadline has been moved from January 31, 2...