Benefit Plan and Payroll Limits for 2020 (Benefit Minute)
The table below details the 2020 and 2019 limitations for qualified plans and other benefit related items.
Posts in Benefit Minute
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Federal Agencies Continue Push for Transparency in Health Care Costs (Benefit Minute)
In response to the Trump Administration Executive Order regarding improving price and quality transparency in American health care, the Centers for Medicare and Medicaid Services (CMS), the Department of Labor (DOL), and the Treasury Department issued final and proposed regulations that impose transparency requirements on hospitals, health insurers, and group health plans as described below.
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Final Rule on Overtime Eligibility for White Collar Employees (Benefit Minute)
On September 24, 2019, the Department of Labor revised a regulation issued under the Fair Labor Standards Act (FLSA) by updating the salary threshold that applies to the FLSA’s overtime exemption for executive, administrative and professional employees from $455 to $684 per week. Absent an applicable exemption, an employer is required to pay 1½ times […]
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HSA Eligibility & Contributions Reminders (Benefit Minute)
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 […]
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Protecting Patients from “Surprise Medical Bills” (Benefit Minute)
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, […]
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Employee Benefits Compliance Updates (Benefit Minute)
This issue of the Benefit Minute provides a recap of some recent regulatory activity affecting employee benefits compliance.
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Final Rule Expands Availability of Health Reimbursement Arrangements (Benefit Minute)
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 […]
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More States Require Paid Family and Medical Leave Benefit (Benefit Minute)
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.
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Fringe Benefits for More Than 2% Shareholders of an S Corporation — Benefit Minute
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 […]