Posts in Benefit Minute

  1. 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 […]

  2. HIPAA Portability and Nondiscrimination – A Refresher (Benefit Minute)

    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 […]

  3. Prescription Drug Developments (Benefit Minute)

    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 […]

  4. Recent Developments in Employee Benefit Programs (Benefit Minute)

    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.

  5. Benefit Plan and Payroll Limits for 2019 (Benefit Minute)

    Learn more about the 2019 and 2018 limitations for qualified plans and other benefit related items. See the table of information here.

  6. Outlook for Healthcare Legislation and Regulation After the 2018 Midterm Election (Benefit Minute)

    Healthcare was the hot topic in the 2018 midterm election as exit polls showed that approximately 40% of voters ranked it as the most important issue.  On this issue, Democrats held the advantage which allowed them to gain control of the House of Representatives by a margin of 234 to 200 (one seat still undecided).  […]

  7. Overview of Medicare Secondary Payer Provisions (Benefit Minute)

    The Medicare Secondary Payer (MSP) requirements are a method by which the federal government shifts primary payment responsibility from Medicare to group health plans when an individual is covered by both.

  8. IRS Provides Guidance on Employer Tax Credit for Paid Family & Medical Leave (Benefit Minute)

    The Internal Revenue Service has issued Notice 2018-71, which provides guidance on the employer tax credit for paid family and medical leave.  This new tax credit was established by the tax reform bill passed in December 2017 and applies to wages paid in the 2018 and 2019 tax years. Eligible Employers An employer need not […]

  9. Recent Litigation Revolving Around the ACA (Benefit Minute)

    Individual Mandate The 2018 tax reform law eliminated the penalty for failing to comply with the ACA’s individual mandate beginning in 2019.  As a result, twenty Republican states filed a lawsuit in Texas arguing that the individual mandate is fundamental to the ACA. They believe that, without the mandate, the ACA is no longer workable […]