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… Forms 1094 and 1095 Have Been Released The final forms contain very few changes from prior years; however, reference to relief for reporting errors has been removed from the instructions (see more below). Form 1095-C also contains two new codes for employers that sponsor an individual coverage health reimbursement arrangement (ICHRA). Permanent Extended Deadline for Distributing Form 1095s to Individuals Employer reporting rules require that employers provide a copy of Form 1095 to employees and participants by January 31; however, for the last few years, the IRS has offered a 30-day extension to that deadline. The proposed rules …

… employer-sponsored coverage includes coverage under any group health plan made available to employees which is excludable from the employee’s gross income under Section 106. However, certain benefits are specifically excluded from the reporting requirement. Benefits not required to be included in the W-2 reporting are: Health Reimbursement Arrangements (HRAs). Stand-alone dental or vision coverage that meets the Health Insurance Portability and Accountability Act (HIPAA) definition of an “excepted benefit.” Coverage issued as a supplement to liability insurance. Contributions to Health Savings Accounts (HSAs). Workers’ compensation or similar insurance. Long-term care insurance. Liability insurance, credit-only …

… methods available to self-funded plan sponsors to determine the average covered lives used for reporting and paying the PCORI fee: the actual count method; the snapshot method; or the Form 5500 method. There are special rules that apply for employers offering multiple self-funded plans or a health reimbursement arrangement (HRA) integrated with a fully insured plan: Multiple Self-Funded Plans – If one plan sponsor maintains more than one self-funded health plan with the same plan year, the arrangements can be treated as a single plan for purposes of the fee. HRAs – An employer that sponsors an HRA …

… per month for parking and $280 per month for transit, both limits up from $270 per month in 2021. Background In Revenue Procedure 2021-45, the IRS sets forth a variety of 2022 adjusted tax limits. Among other things, the notice indicates that employee contribution limits toward health flexible spending arrangements also known as flexible spending accounts, or FSAs, and qualified transportation fringe benefits will increase slightly for 2022. The limit on annual employee contributions toward health FSAs for 2022 is $2,850, up from $2,750 in 2021 with the ability to carry over up to $570, up from …