Pension & Benefits NetNews – June 12, 2018

NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe hr.cch.com Resources Online Store Customer Service Home Page Products & Training News & Information About Links in this Newsletter To access the IntelliConnect™ full text documents you must be a subscriber to the Pension Plan Guide or Employment Benefits Management. Links within […]

Proposed regulations modify electronic filing requirement for information returns

The IRS has proposed regulations that would change the rules for determining whether a person must file information returns electronically. Under the new rules, all information returns, regardless of type, must be taken into account to determine whether a person meets the 250-return threshold for the electronic filing requirement. Further, electronic filing of corrected information […]

Self-insured group health plans covered approximately 34 million participants, DOL annual report finds

The Department of Labor (DOL) has released to Congress its eighth annual report on self-insured group health plans with data from Form 5500, Annual Return/Report of Employee Benefit Plan, as well as data from certain financial filings of self-insured employers. Approximately 54,500 health plans filed a Form 5500 for 2015 (the most recent complete data […]

Spencer’s Benefits NetNews – June 8, 2018

  About this Newsletter The Spencer’s Benefits Reports is a summary of the week’s news items posted in the WHAT’S NEW pages of Spencer’s Benefits Reports Online. For questions regarding this email service, contact Customer Service at (800)449-9525. NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe hr.cch.com Resources Online Store […]

Biggest chunk of the health care dollar goes to prescription drugs

The greatest percentage of the health care dollar goes to prescription drugs, at 23.2 cents, according to research from America’s Health Insurance Plans (AHIP) and Milliman. The survey examined commercial health plan data from 2014 to 2016. The analysis found: 23.2 cents goes to pay for prescription drugs; 22.2 cents goes to pay for doctors; […]

Standard mileage rates updated to reflect elimination of miscellaneous itemized deductions

In Notice 2018-42, the IRS has updated Notice 2018-3, to reflect changes to the tax law made by the Tax Cuts and Jobs Act (TCJA; P.L. 115-97). Changes impacting Notice 2018-3 include: the suspension of the deduction for un-reimbursed employee expenses; the suspension of the deduction for move related expenses; and the increase of depreciation […]

IRS provides guidance on various Letters 227

The IRS has provided guidance on the various Letters 227, which are acknowledgement letters sent to employers regarding the employer shared responsibility payment (ESRP). There are five different 227 letters. ESRP. The ESRP rules apply only to applicable large employers (ALEs), which are generally employers that had an average of 50 or more full-time employees […]

States’ motion to intervene granted in case challenging the ACA’s constitutionality

The District Court of the Northern District of Texas granted the motion of seventeen states to intervene as defendants in a challenge to the constitutionality of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) brought by nineteen states and three individuals. The plaintiffs, led by the state of Texas, seek a declaratory judgment […]

EBSA seeks comments on information collection requests contained in various documents

The Employee Benefits Security Administration (EBSA) is requesting public comments on the proposed extension of the information collection requests contained in the following documents: Prohibited Transaction Class Exemption (PTE) 1990-1; PTEs 94-71 and 2003-39; PTE 2002-12; The Fiduciary Correction Program and PTE 2002-51; PTE 2004-07; Regulations on the qualified termination of abandoned plans, and PTEs […]

IRS updates premium tax credit table, required contribution percentage

The IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage for plan years beginning after 2019. The percentage is used to determine whether an individual is eligible for affordable employer-sponsored minimum essential coverage; the percentage is used to determine whether an individual is eligible for […]