BAS Blog


 

BREAKING NEWS: Due Date for 1095-B/C Distribution Delayed

Today, the IRS extended a key Affordable Care Act deadline - the due date for furnishing to individuals the 2018 Form 1095-B and Form 1095-C.  

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Question of the Week

Q.- We are offering a new health plan at open enrollment for the upcoming 2019 plan year. The covered benefits under the plan are changing significantly. Do we have to give everyone a COBRA election?

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Open Enrollment Notices for Health Plans

With the approach of Open Enrollment for calendar year health plans, employers may want to review their employee communications to make sure all required notices are being provided to employees.

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IRS Announces 2019 Tax Year Plan Inflation Adjustments

Today, the Internal Revenue Service announced various tax code inflation adjustments for 2019. Employers should note the following new limits for their health plans in the 2019 tax year.

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Question of the Week

Q.- My employer offers a health flexible spending account plan. It is a small employer (10 employees) and the payroll processor reimburses claims when she get around to it. How soon does the company have to pay me my money after I submit my FSA reimbursement request?

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Qualified Transportation Benefit Primer

A qualified transportation plan is a tax-favored arrangement under Code section 132 that allows employees to contribute a portion of their compensation, pre-tax, to pay for specific transportation expenses. There are two types of qualified transportation plans:  (1) Transit & Vanpooling Accounts and (2) Parking Accounts. Under these plans, reimbursement may be made for a ride in a commuter highway vehicle between the employee’s home and workplace; a transit pass; or qualified parking.

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PCORI Fee for 2018

The IRS released the dollar amount that is used to calculate the Patient Centered Outcomes Research Trust Fund fee for plan years that end on or after October 1, 2018 and before October 1, 2019. The fee has increased to $2.45.

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Question of the Week

Q.- We have two people on COBRA. Are they entitled to participate in open enrollment when we offer open enrollment to our active employees?

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Question of the Week

Q.- An employee’s husband’s employer is restricting his contributions to their dependent care FSA starting immediately (they must have failed nondiscrimination testing). The employee wants to know if she can enroll in our plan mid-year because of this.

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2019 COLA for Social Security

The Social Security Cost of Living Adjustment (COLA) for 2019 will be 2.8 percent. This means Social Security beneficiaries will get an increase in their monthly benefit starting January 2019, assuming other costs stay the same.

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Healthcare.gov Marketplace Enrollment

The open enrollment period for the Affordable Care Act Marketplace runs from November 1, 2018 through December 15, 2018 for coverage beginning January 1, 2019.

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