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Individuals enrolled in a qualified high deductible health plan (QHDHP) are generally eligible to contribute to a health savings account (HSA) on a tax favored basis up to limits established by the IRS. However, certain situations may adversely impact the ability to make an HSA contribution and/or impact the amount that may be contributed. These […]
Group health plans and insurers may offer in-network benefits only (HMO) or both in-network and out-of-network benefits (PPO). When an insured patient chooses to use an out-of-network provider, they will generally receive a lesser benefit level and be subject to balance billing since the provider has not agreed to a contracted rate. For an HMO, […]
This issue of the Benefit Minute provides a recap of some recent regulatory activity affecting employee benefits compliance.
On June 20, 2019, the Departments of Labor, Treasury and Health and Human Services published a final regulation regarding Health Reimbursement Arrangements (HRA). The regulation is intended to fulfill the President’s Executive Order directing the agencies to expand the availability and use of HRAs by employers. While the final rule allows for two new types […]
Massachusetts, Washington, and the District of Columbia are the latest jurisdictions to pass paid family and medical leave laws. The paid leave laws of all three jurisdictions include job protection during the paid leave.
Generally, many fringe benefits provided to employees are excluded from taxable income. However, this favorable tax treatment is not available to an S corp shareholder who owns more than 2% of the stock of the corporation on any day of the corporation’s tax year (referred to as a 2% shareholder). Section 1372 of the Internal […]
The Health Insurance Portability and Accountability Act (HIPAA) was passed into law in 1996. Its purpose is to provide protection for employees and their dependents by affording additional opportunities to enroll in a group health plan if other coverage is lost or certain life events occur. It also prohibits discrimination against employees and their dependents […]
The Trump administration continues to introduce policy and regulatory initiatives addressing four major challenges in the current prescription drug system: high list prices, government programs that overpay for drugs due to lack of effective negotiation, rising out-of-pocket costs to consumers, and foreign government free-riding off American investment in innovation. These initiatives are being led by […]
With a Republican controlled Senate and a Democratic controlled House of Representatives, it is unlikely there will be major legislative changes in the next two years. New developments in the employee benefits landscape are now coming primarily through judicial decisions and regulatory action. Below are some benefit areas that have been recently impacted.