IRS Releases Two New Bulletins That Will Impact Plan Design for 2018

  • On May 12, 2017
The Internal Revenue Service (IRS) has released two new bulletins that will help shape employer health plan contributions and plan designs for the year ahead.   One establishes the contribution limits, minimum deductibles, and maximum for out-of-pocket expense limits for qualified high deductible health plans (HDHPs) and health savings accounts (HSAs) for calendar year 2018. Individuals […]
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Recent Notable Federal Health Plan Guidance

  • On February 17, 2017
In January and early February, federal government agencies issued several key pieces of guidance that may be of help to employer group benefit plans for 2017 administration purposes. The 2017 federal poverty level (FPL) standards were released, which applicable large employers (ALEs) may elect to use to help determine if the coverage they offer to […]
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New Final Regulations to Impact Employer-Sponsored Health Benefit Plans

  • On January 13, 2017
In the last few weeks, the Obama Administration issued a flurry of new final regulations, FAQs, and other guidance that will impact employer-sponsored health plans.  Since all of these requirements and guidance will be both finalized and effective before January 20 (even the ones that will impact the 2018 plan year), they cannot be simply […]
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IRS Partially Extends Employer Reporting Deadlines

  • On November 21, 2016
Will Keep Good Faith Compliance Standard for 2016 Reporting Done in 2017 On Friday, November 18, the Internal Revenue Service released Notice 2016-70 which extends the due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017, to March […]
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Administration Releases Key Pieces of Information for 2017 Benefit Plans

  • On November 11, 2016
Over the past few weeks, a number of forms, fees, tools and guidance have been released that will impact employer-sponsored health benefit plans in 2017.   They include: The Internal Revenue Service (IRS) announced the new Patient-Centered Outcomes Research Institute (PCORI) fee for plan years that fall between October 1, 2016 and October 1, 2017).  This […]
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Final 2016 1094/1095 Forms Issued

  • On October 14, 2016
The Internal Revenue Service (IRS) released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. Forms 1094-B and 1095-B are used by entities reporting under Section 6055, including self-insured plan sponsors that are not applicable large employers (ALEs).  NOTE: An ALE is an employer who averaged 50 or more full-time […]
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COBRA Continuation Coverage – Mergers and Acquisitions

  • On August 11, 2016
Business reorganizations, such as mergers and acquisitions, often raise liability issues regarding COBRA continuation coverage. These liability issues typically involve two sets of individuals: 1. Individuals who are receiving COBRA coverage under the seller’s group health plan at the time of the reorganization; and 2. Individuals whose employment status changes as a result of the […]
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IRS Issues Opt-out Payment Proposed Rules

  • On August 11, 2016
On July 8, 2016, the Internal Revenue Service (IRS) issued proposed regulations on the Affordable Care Act’s (ACA) premium tax credit and individual mandate. The regulations also impact employers through the employer shared responsibility rules (“Pay-or-Play”). The proposed regulations focus primarily on the effect of opt-out payments on the affordability of employer-sponsored coverage: 1. Opt-out […]
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Draft Forms for 2016 ACA Reporting Released

  • On July 14, 2016
The Internal Revenue Service (IRS) has released 2016 draft forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. Draft or final instructions for the 2016 forms have not yet been released. Forms 1094-B and 1095-B (released on June 22, 2016) are to be used by entities reporting under Section 6055, including self-insured plan […]
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REMINDER: Electronic Filing Deadline for ACA Reporting is June 30, 2016

  • On June 16, 2016
Employers seeking to file IRS Forms 1094/1095-C and/or IRS Forms 1094/1095-B electronically must file by June 30, 2016.  Employers filing 250 or more IRS Forms 1095 are required to file electronically (employers filing fewer than 250 IRS Forms 1095 were permitted to paper-file by May 31, 2016). Who is required to file? IRS Forms 1094/1095-C—Applicable […]
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2017 HSA Contribution Limits

  • On May 13, 2016
The IRS issued Rev. Proc. 2016-28 establishing the 2017 contribution limits for Health Savings Accounts. Individuals with self-only coverage under a high-deductible health plan will be permitted to contribute $3400 (up $50 from 2016), and $6,750 for individuals with family coverage under a high-deductible health plan.  The out-of-pocket maximums for 2017 will remain the same […]
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Tips for Completing IRS Form 1094-C for Controlled Groups

  • On May 3, 2016
The IRS has clarified the proper method for completing IRS Form 1094-C on behalf of a controlled group.  IRS Form 1094-C is the transmittal form for IRS Forms 1095-C. Applicable Large Employers subject to The Affordable Care Act’s reporting requirements are required to submit their IRS Form 1094-Cs and 1095-Cs to the IRS by May […]
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IRS Expands Tax Relief for Identity Protection

  • On March 11, 2016
Due to growing concerns about data breaches and identity theft, some employers have started offering identity protection services to their employees as a fringe benefit. The Internal Revenue Service (IRS) has issued two pieces of guidance that address the taxability of this benefit. Announcement 2015-22 provides that the value of identity protection services provided by […]
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Outline of Tax Forms 1095-A, 1095-B, & 1095-C

  • On February 10, 2016
As a result of the new IRS reporting requirements, employees of companies may be receiving a combination of IRS Forms 1095-A, 1095-B, and 1095-C: IRS Form 1095-A—IRS Form 1095-A is sent to individuals who enrolled in health coverage for themselves or their family members through the government’s Health Insurance Marketplace (e.g. healthcare.gov).  The form is […]
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IRS Notice 2015-87 Could Spell Big Changes for Employer-Sponsored Coverage in 2017

  • On January 18, 2016
On December 16, 2015, the Internal Revenue Service (IRS) issued Notice 2015-87 (“Notice”) to address how certain provisions under the Affordable Care Act (ACA) apply to employer-provided health coverage.  The notice covers a broad array of topics, including the ACA’s market reforms as well as the employer shared responsibility rules and related reporting requirements.  Perhaps […]
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Updated Sample Employee Letters for IRS Forms 1095-B and 1095-C

  • On January 18, 2016
Recently, the IRS extended the deadline for distributing IRS Forms 1095-C and 1095-B to employees from February 1, 2016 to March 31, 2016.  As such, Kistler Tiffany Benefits is providing its clients with customizable letters that may be issued to employees explaining the new employee returns (either the Form 1095-B or Form 1095-C).  These letters could […]
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IRS Extends ACA Filing Deadlines

  • On December 29, 2015
The IRS issued Notice 2016-4 late yesterday extending the due date for furnishing to employees Form 1095-B, Health Coverage, and Form 1095-C, Employer Provided Health Insurance Offer and Coverage. The due date for furnishing information to employees moves from February 1, 2016 to March 31, 2016. Notice 2016-4 extends the due date: 1. For furnishing […]
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IRS Provides Tax Guidance on Same-Sex Marriage Issues

  • On December 21, 2015
The Internal Revenue Service (IRS) has issued guidance on how certain tax rules are impacted by the U.S. Supreme Court’s same-sex marriage decision from June 2015. On Dec. 9, 2015, the IRS issued Notice 2015-86 to address how the Supreme Court’s decision impacts employee benefit plans, including cafeteria plans under Section 125 of the Internal […]
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IRS Addresses ACA Rules for Employer-Provided Health Coverage

  • On December 21, 2015
On Dec. 16, 2015, the Internal Revenue Service (IRS) issued Notice 2015-87 to address how certain provisions under the Affordable Care Act (ACA) apply to employer-provided health coverage. The notice covers the ACA’s market reforms as well as the employer shared responsibility rules and related reporting requirements. Key provisions of the notice include: Confirmation of […]
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IRS Issues Final 2015 Forms for ACA Reporting (Sections 6055, 6056)

  • On September 24, 2015
On Thursday, September 17, 2015, the IRS released final 2015 forms and instructions for ACA reporting under Code Sections 6055 and 6056. The 2015 final forms remained unchanged from the 2015 draft versions. The 2015 final instructions provide additional details on some questions, including clarifying that most employers will not have to separately report Health […]
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