Spencer’s Benefits NetNews – March 9, 2018

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Featured This Week

New Reports

  • Analysis: GINA, 2/18 (402.3.-1)

    (Read Intelliconnect) »

  • Analysis: Temporary disability benefits, 2/18 (323.-5)

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  • Analysis: IRA-based SIMPLE plan, 2/18 (105.3.-1)

    (Read Intelliconnect) »

  • Analysis: PBGC limitations, 2/18 (618.2.-1)

    (Read Intelliconnect) »

  • News

    Male sterilization or male contraceptives not allowable preventive care under HDHP rules

    In Notice 2018-12, the IRS has clarified that a health plan providing benefits for male sterilization or male contraceptives without a deductible, or with a deductible below the minimum deductible for a high deductible health plan (HDHP), is not an HDHP. The Notice provides transition relief before 2020 to individuals with plans that provided coverage for male sterilization or male contraceptives without a deductible (March 9, 2018).

            (Read Intelliconnect) »

    Best-performing companies achieve significant health care cost savings

    A group of best-performing companies has achieved a $2,251 per employee per year (PEPY) health care cost advantage over the national average in 2017 ($9,950 compared with $12,201), according to global advisory, broking and solutions company Willis Towers Watson’s 22nd annual Best Practices in Health Care Employer Survey (March 8, 2018).

            (Read Intelliconnect) »

    IRS modifies some benefits-related 2018 inflation adjustment amounts

    The IRS has modified certain previously released inflation-adjusted amounts. Generally, these new inflation-adjusted figures apply to tax years beginning in 2018 or transactions or events occurring in calendar year 2018. The benefits-related modified items include the adoption credit, employee health insurance expense of small employers, medical savings accounts (MSA), and health savings accounts (HSA) (March 7, 2018).

            (Read Intelliconnect) »

    Bill to improve HSAs would permit pre-deductible coverage of preventive care

    The Bipartisan HSA Improvement Act will make HSAs more useful and effective for employers, according to the American Benefits Council. The bill was introduced recently by Representatives Mike Kelly (R-PA), Earl Blumenauer (D-OR), Erik Paulsen (R-MN) and Ron Kind (D-WI) (March 7, 2018).

            (Read Intelliconnect) »

    Nearly 45 percent of employees want HSAs for future retirement expenses

    Nearly 45 percent of employees enrolled in a health savings account (HSA) as a savings vehicle for future health care needs, over more immediate benefits like tax savings and lower premiums, according to recent research from ConnectYourCare (CYC). In fact, more than two-thirds (68.7 percent) of employees identified health care expenses in retirement as a great concern than lifestyle or other retirement expenses (March 5, 2018).

            (Read Intelliconnect) »

    IRS proposal to remove 298 unnecessary, obsolete regs affects retirement plan regs

    The IRS has proposed removing 298 regulations, which are considered unnecessary, duplicative or obsolete. In addition, the Treasury proposes to amend another 79 regulations to reflect the proposed removal of the regulations. The regulations affected by this proposed rulemaking include retirement plan regulations (February 27, 2018).

            (Read Intelliconnect) »