Spencer’s Benefits NetNews – July 26, 2019

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Featured This Week

New Reports

  • Analysis: ADEA, 7/19 (401.-1)

    (Read Cheetah) »

  • Analysis: Lifetime and annual limits, rescissions, health status discrimination, 7/19 (513.-1)

    (Read Cheetah) »

  • Analysis: Filling out a SAR, 7/19 (603.1.-7)

    (Read Cheetah) »

  • Survey: 2019 PBGC interest rates, 7/19 (619.5.-63)

    (Read Cheetah) »

  • News

    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 2020. 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 an exemption from the individual shared responsibility payment because of a lack of affordable minimum essential coverage.

            (Read Cheetah) »

    House approves bipartisan repeal of ACA’s Cadillac tax

    The House has approved a bipartisan repeal of the Affordable Care Act’s (ACA) so-called Cadillac excise tax on certain high-cost insurance plans.

            (Read Cheetah) »

    IRS expands list of preventive care for HDHP participants to include care for chronic conditions

    In Notice 2019-45, the IRS has expanded the list of preventive care benefits that may be provided by a high deductible health plan (HDHP) to include certain care for chronic conditions. The Treasury Department and the IRS, in consultation with the Department of Health and Human Services, have determined that certain medical care services received and items purchased, including prescription drugs, for certain chronic conditions should be classified as preventive care for someone with that chronic condition.

            (Read Cheetah) »

    Employees want additional help from employers to improve their financial and mental health

    Nearly one in three U.S. employees would like their employers to provide more assistance to improve their financial health while more than a quarter would like additional support for mental health, including how to cope with burnout, according to a survey of more than 2,200 employees conducted by the National Business Group on Health. Additionally, employees’ overall well-being is associated with access to health-enabling communities near their workplace.

            (Read Cheetah) »

    IRS issues proposed regs providing exception to MEP unified plan rule

    The IRS has issued proposed regulations that would provide an exception to the unified plan rule for defined contribution multiple employer plans (MEPs), if certain conditions are met. The purpose is to reduce the risk of plan disqualification due to noncompliance by other participating employers. The regulations are proposed to apply on or after the publication date of final regulations in the Federal Register. They cannot be relied upon until then.

            (Read Cheetah) »

    DOL advisory opinion confirms Ace Hardware plan qualifies as an AHP and MEWA

    In DOL Advisory Opinion 2019-01A, the Department of Labor has confirmed that the proposed Ace Hardware Corporation Cooperative Group Health Plan would qualify as an association health plan (AHP) and a multiple employer welfare arrangement (MEWA) under ERISA, as long as the plan is adopted and operated as described to the DOL.

            (Read Cheetah) »