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Compliance Alert: IRS Issues Final Rules for Family Coverage Affordability Determination

… 1, 2023, employer plan affordability for family members will be based on the required cost for the entire family to participate in the employer-sponsored plan. Affordability for the employee will still be based on the employee’s cost for single (employee-only) coverage. Depending on an employer’s contribution arrangement, this could create a situation where family members are eligible for the PTC purchasing individual coverage, while the employee remains ineligible based on the cost of single coverage. Determining the Cost of Employer-Sponsored Coverage To determine the cost of coverage for purposes of affordability for family members, the …

https://www.epicbrokers.com/insights/compliance-alert-irs-issues-final-rules-for-family-coverage-affordability-determination/

Compliance Alert: Updates to 2023 Health FSA & Qualified Transportation Limits

Quick Facts On October 18, 2022, the Internal Revenue Service (IRS) released updated limits for health flexible spending arrangements (FSAs) and commuter benefits. These limits are adjusted annually for inflation. Limits for Dependent Care Assistance Programs (DCAP) are set by statute and not adjusted annually for inflation. Background In Revenue Procedure 2022-38, the IRS sets forth a variety of 2023 adjusted tax limits. Among other things, the notice indicates that employee contribution limits toward health FSAs and qualified transportation fringe benefits will increase for 2023. The limit on annual employee contributions toward health FSAs is $3,050 in 2023 …

https://www.epicbrokers.com/insights/compliance-alert-updates-to-2023-health-fsa-qualified-transportation-limits/

Compliance Alert: Considerations for Domestic Partner Coverage in Employee Benefits

… to income tax withholding. Employers should pay close attention to domestic partner rules that effect mid-year changes under IRC Section 125 and Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage. Background While opposite-sex and same-sex marriages are permitted nationwide, today’s workforce presents a wide variety of relationship arrangements for which a domestic partner benefit offering provides more flexibility. In addition, while most employers are not required to offer benefits to domestic partners, doing so may provide some additional protection against claims of discrimination based on gender. For employers who do offer coverage to domestic partners, and maybe …

https://www.epicbrokers.com/insights/domestic-partner-coverage-considerations/

Compliance Alert: Departments Release Updated Guidance for Contraception Coverage

… and provision of contraceptives (including in the immediate postpartum period).” Counseling and education include instruction in fertility awareness-based methods, including lactation amenorrhea for women desiring an alternative method. Use of Account-Based Plans for OTC Contraceptives A health savings account (HSA), health flexible spending account (HFSA), or health reimbursement arrangement (HRA) can reimburse an individual for the cost (or portion of the cost) incurred for OTC contraception to the extent that cost is not paid or reimbursed by another plan or coverage. Dispensing 12-Month Supply at One Time Plans and carriers are encouraged (although not required) to cover …

https://www.epicbrokers.com/insights/compliance-alert-departments-release-updated-guidance-for-contraception-coverage/

Compliance Alert: SCOTUS Decision on End-Stage Renal Disease

… addition, MSP rules prohibit a group health plan from “taking into account” the individual’s Medicare eligibility or entitlement when determining eligibility and coverage under the group health plan. MSP rules apply to most group health plans, but not health flexible spending accounts (FSAs) and qualified small employer health reimbursement arrangements (QSEHRAs). For age-based and disability-based Medicare, there are exemptions for small employers and individuals whose eligibility is not tied to current employment status; however, for ESRD-based Medicare, such exemptions do not apply. For ESRD-based Medicare, the MSP rules impose two different requirements: The group health …

https://www.epicbrokers.com/insights/compliance-alert-scotus-esrd-decision/

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… about certificates or identify your account team Corporate Headquarters 1140 Avenue of the Americas 8th Floor New York, NY 10036 United States Employment Verification For employment verification contact Vault Verify at www.vaultverify.com and use our EPIC Company Code 70237 to obtain verification. You may also reach out to Vault Verify with questions to , or call (407) 378-6203 option 1. Press & Media Arrange quotes, verify facts, or set up interviews Vendor Inquiries Vendors selling new products and services may write us at: 1140 Avenue of the Americas 8th Floor New York, NY 10036 United States

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Compliance Alert: PCORI Fee Reminder & Updated Form 720

… 31 falls on a Sunday. Form 720 should be filed for the 2nd quarter ending June 30th, 2022. Health insurance carriers pay the fee on behalf of fully insured plans, but employers are responsible for reporting and paying the fee for any self-funded group health plans, including health reimbursement arrangements (HRAs). The PCORI fee applies to most group health plans, but not to excepted benefits. The IRS published a chart that describes the different types of plans subject to the fee. The fee is paid using quarterly excise tax Form 720, Line 133, and must be paid by July …

https://www.epicbrokers.com/insights/pcori-fee-reminder-updated-form-720/

Special Compliance Alert: What Is the Impact of the Roe v. Wade Reversal?

… in environment, improvement of morale, or general improvement of health, even if the trip is made on the advice of a doctor are not includable. Travel Benefits to Obtain Abortion Services Travel to obtain abortion services may be provided as part of the health plan, through a Health Reimbursement Arrangement (HRA), through a Flexible Spending Account (FSA), or through a Health Savings Account (HSA) for individuals enrolled in a High Deductible Health Plan (HDHP). Providing travel and lodging expenses for abortions outside of these types of arrangements could result in the creation of a group health plan because the …

https://www.epicbrokers.com/insights/special-compliance-alert-roe-v-wade-reversal-impact/