Labor Days
Summary of State Mandated ACA Reporting
Several jurisdictions have recently adopted laws requiring individuals to purchase health coverage or pay a state tax penalty. Employers employing residents in a covered jurisdiction now need to facilitate compliance…
Remedial Amendment Period for 403(b) Plans ending on March 31, 2020
March 31, 2020 is the deadline for retroactively correcting most 403(b) plan document defects that occurred on or after January 1, 2010. These defects can be corrected by amending an individually-designed 403(b) plan…
IRS Issues Final Hardship Distribution Rules
The Internal Revenue Service has recently issued final regulations easing requirements for hardship distributions from 401(k) and 403(b) plans. The final regulations reflect a number of statutory changes, including…
Employers Have New Ways to Offer Health Reimbursement Arrangements
The Departments of Labor, Health and Human Services and Treasury recently issued joint final regulations expanding the availability of health reimbursement arrangements (“HRAs”) by introducing two new types of HRAs –…
Treasury Department and IRS Release Guidance on Preventive Care for Chronic Conditions under High Deductible Health Plans
On July 17, 2019, the Treasury Department and the IRS issued Notice 2019-45 to expand the types of preventive care services and benefits that can be provided to individuals under high deductible health plans (“HDHPs”)…