Posts in Benefit Minute

  1. It’s Time for ACA and State-Based Individual Mandate Reporting

    As 2023 begins, the deadlines for ACA reporting and reporting to states that are enforcing health insurance individual mandates approach.

  2. Benefit Plan and Payroll Limits for 2023 (Benefit Minute)

    Set forth below are the 2023 and 2022 limitations for qualified plans and other benefit related items:  

  3. Considerations for Employees Approaching Medicare Entitlement (Benefit Minute)

    This Benefit Minute discusses how Medicare Parts A and B entitlement at age 65 impacts active and retiring employees.

  4. Prescription Drug Reporting – The Next Transparency Requirement (Benefit Minute)

    The Consolidated Appropriations Act of 2021 (CAA) added a requirement for group health plans and health insurance issuers to provide certain information about prescription drug and health care costs. The deadline for first year reporting (2020) was originally December 27, 2021. However, it was subsequently extended to December 27, 2022 for calendar years 2020 and […]

  5. Recent Compliance Updates (Benefit Minute)

    HSA Limits for 2023 IRS Revenue Procedure 2022-24 updated the limits for qualified high deductible health plans (QHDHPs) for plan years beginning in 2023 as well as the 2023 calendar year health savings account (HSA) contribution limits, as set forth below: For non-grandfathered health plans that are not QHDHPs, the out-of-pocket maximums for plan years […]

  6. Commuter Benefit Programs – A Way to Address High Gas Prices (Benefit Minute)

    Section 132(f) of the Internal Revenue Code allows employers to provide certain tax-favored commuter benefits, a valuable fringe benefit for employees in light of the current high gas prices. This issue of the Benefit Minute describes these qualified transportation programs and provides related compliance reminders.

  7. Maryland Passes Paid Family and Medical Leave (Benefit Minute)

    Maryland recently enacted a paid family and medical leave (PFML) program, joining several other states and the District of Columbia. The Time to Care Act (Act) became law when the state legislature overrode the Governor’s veto of the Act. The Governor indicated that the Act was supported by no actuarial analysis and no viable plan […]

  8. First Quarter Compliance Updates (Benefit Minute)

    This issue provides a recap of some recent regulatory activity.

  9. Compliance Reminders for Health Care Flexible Spending Accounts (Benefit Minute)

    Health care flexible spending accounts (HCFSAs) are a valued employee benefit, but create administrative and compliance responsibilities for employers and their third party administrators. Permitted changes to how HCFSAs operate made in response to the COVID-19 pandemic added to these responsibilities. This issue of the Benefit Minute summarizes current compliance considerations for HCFSAs.