Compliance News

IRS Announces 2025 Decreases for Employer Shared Responsibility Penalties

IRS Announces ACA Penalties for 2025 Under Code §4980H (a) and (b) February 2024 On February 12, 2024, the IRS released Rev. Proc. 2024-14 to provide the adjusted excise tax amounts under the Af...

Nondiscrimination Rules - Options for Highly Compensated Individuals

Nondiscrimination Rules – Options for Highly Compensated Individuals (HCIs) February 2024 Benefit nondiscrimination rules restrict the extent to which employers may favor highly compensated indi...

Reminder - Medicare Part D Creditable Coverage Due to CMS by March 1, 2024

Reminder - Medicare Part D Creditable Coverage Reporting Requirement to CMS is Due By March 1, 2024 for Calendar Year Plans In addition to the disclosure requirements to individuals, plan sponsors ...

Updates to IRS FAQs - Premium Tax Credit

Updates to IRS FAQs about the Premium Tax Credit February 9, 2024 FS-2024-04 This month, the IRS updated their Frequently Asked Questions document with more information about the Premium Tax...

Department of Labor Releases a Revised CHIP Model Notice

Updated - Department of Labor Releases a Revised Children's Health Insurance Program Model Notice The Department of Labor (DOL), through its Employee Benefits Security Administration (EBSA), has re...

2024 Federal Poverty Levels (FPL) Guidelines Released

2024 Federal Poverty Levels (FPL) Guidelines The Department of Health and Human Services (HHS) released the 2024 federal poverty guidelines. For purposes of calculating affordability under §4980...

Most Common ACA 1094/1095 Errors - Employer Reporting Tip

Most Common ACA 1094/1095 Errors - Employer Reporting Tip February 1, 2024 Question What are the most common employer reporting errors? Answer As experts assist with Letter 226J appeals...

Events Permitting Election Changes Mid-Plan Year

Events Permitting Election Changes Mid-Plan Year The Plan may be drafted to permit an individual to change an election mid-year based on a permitted event. Alternatively, a plan sponsor may design ...

Amwins Connect - February 2024 Question of the Month

Amwins Connect – February 2024 Question of the Month Question How does an ALE (Applicable Large Employer) pick an affordability safe harbor? Answer If an ALE's offer of minimum value ...

ACA Employer Mandate Reporting - Employer Reporting Tip

ACA Employer Mandate Reporting - Employer Reporting Tip Q: If related entities that are applicable large employers (50 or more FTEs) share benefit plans, do they report together? A: No. Offer of...

ACA Employer Reporting Summary

ACA Employer Reporting Summary January 2024 Certain employers, plan sponsors, and insurers are required to report health plan information and participant coverage data to the IRS each year. The ...

FAQs on Contraceptive Coverage

FAQs on Contraceptive Coverage Most non-grandfathered group health plans are required to provide coverage with no cost-sharing for preventive coverage, including contraceptives. Despite these requi...