Compliance News

Covered California Small Business | Important Notice on CAA, Section 204 Pharmacy Reporting

“Under Section 204 (of Title II, Division BB) of the Consolidated Appropriations Act, 2021 (CAA), insurance companies and employer-based health plans must submit information about prescription drugs a...

Purchase or Sale of Paid Time Off Through a Section 125 Cafeteria Plan

Purchase or Sale of Paid Time Off (PTO) Through a §125 Cafeteria Plan February 2024 Background §125 Cafeteria plans are generally set up to give employees access to a range of tax-free benefi...

Employer Fiduciary Duties - J and J Lawsuit

Employer Fiduciary Duties February 2024 The recent class action lawsuit against Johnson and Johnson (J and J) has received a lot of attention from employers. The suit accuses J and J of breachin...

ACA 1094 and 1095 Submission Deadlines - Employer ReportingTip

ACA 1094 and 1095 Submission Deadlines - Employer Reporting Tip Question When are the ACA employer reporting forms (Form 1094 and Form 1095s) due? Answer Copies of Form 1095s (1095-B or...

IRS Announces 2025 Decreases for Employer Shared Responsibility Penalties

IRS Announces ACA Penalties for 2025 Under Code §4980H (a) and (b) February 2024 On February 12, 2024, the IRS released Rev. Proc. 2024-14 to provide the adjusted excise tax amounts under the Af...

Nondiscrimination Rules - Options for Highly Compensated Individuals

Nondiscrimination Rules – Options for Highly Compensated Individuals (HCIs) February 2024 Benefit nondiscrimination rules restrict the extent to which employers may favor highly compensated indi...

Reminder - Medicare Part D Creditable Coverage Due to CMS by March 1, 2024

Reminder - Medicare Part D Creditable Coverage Reporting Requirement to CMS is Due By March 1, 2024 for Calendar Year Plans In addition to the disclosure requirements to individuals, plan sponsors ...

Updates to IRS FAQs - Premium Tax Credit

Updates to IRS FAQs about the Premium Tax Credit February 9, 2024 FS-2024-04 This month, the IRS updated their Frequently Asked Questions document with more information about the Premium Tax...

Department of Labor Releases a Revised CHIP Model Notice

Updated - Department of Labor Releases a Revised Children's Health Insurance Program Model Notice The Department of Labor (DOL), through its Employee Benefits Security Administration (EBSA), has re...

2024 Federal Poverty Levels (FPL) Guidelines Released

2024 Federal Poverty Levels (FPL) Guidelines The Department of Health and Human Services (HHS) released the 2024 federal poverty guidelines. For purposes of calculating affordability under §4980...

Most Common ACA 1094/1095 Errors - Employer Reporting Tip

Most Common ACA 1094/1095 Errors - Employer Reporting Tip February 1, 2024 Question What are the most common employer reporting errors? Answer As experts assist with Letter 226J appeals...

Events Permitting Election Changes Mid-Plan Year

Events Permitting Election Changes Mid-Plan Year The Plan may be drafted to permit an individual to change an election mid-year based on a permitted event. Alternatively, a plan sponsor may design ...