Compliance ✔- 2021 PCORI Fee and Form 720 (Q2)
The Affordable Care Act (ACA) imposes a fee on health insurance issuers and self-insured plan sponsors in order to fund comparative effectiveness research. These fees are widely known as Patient-Centered Outcomes Research Institute (PCORI) fees. Employers who sponsor...
Compliance ✔- ARPA COBRA Subsidy (Premium Assistance)
The IRS issued Notice 2021-31 to give instructions and clarification on the COBRA subsidy (“premium assistance”) under the American Rescue Plan Act (ARPA). The subsidies are funded through a payroll tax credit and cover an individual’s cost of COBRA...
Compliance ✔- Taxability of Dependent Care Carryover
The IRS issued Notice 2021-26 to address the tax treatment of dependent care benefits provided through a Section 125 Cafeteria Plan for tax years ending in 2021 and 2022. The IRS clarified that amounts attributable to carryover and extended grace period relief for a...
Compliance ✔- 2022 Limits: ACA OOP Max and HSA/HDHP
The Affordable Care Act (ACA) requires non-grandfathered plans to comply with an out-of-pocket maximum on essential health benefits (EHB). The out-of-pocket maximum is updated annually based on the percent increase in average premiums per person for health insurance...