The IRS has released the 2013 limits for Health Savings Account (HSA) contributions. The annual contribution limit for 2013 increases to $3,250 for an individual with self only coverage and $6,450 for an individual with family coverage from $3,100 and $6,250, respectively for 2012. The minimum annual deductible for a qualifying high deductible health plan
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How to Pay the Patient-Centered Outcomes Research Trust Fund Fee
In previous blogs here, here and here, I discussed generally the recently published proposed regulations on which taxpayers may rely regarding the new fee imposed under the Patient Protection and Affordable Care Act (PPACA) to fund the Patient-Centered Outcomes Research Trust Fund. The fee is considered an excise tax but is not reported …
Counting Average Number of Participants for Patient-Centered Outcomes Research Trust Fund Fee
As noted in my two earlier blogs here and here, the Patient Protection and Affordable Care Act (PPACA) imposes a new fee to fund a Patient-Centered Outcomes Research Institute that will research effective medical treatments. The fee is paid by insurance companies for fully insured plans and by plan sponsors for self-funded plans. The …
Which Employer Plans are Required to Pay the Patient-Centered Outcomes Research Trust Fund Fee?
This is the second blog post discussing the recently proposed regulations (on which taxpayers can rely) on the Patient-Centered Outcomes Research Trust Fund fee. The first post is here. This new fee, required to fund the Patient-Centered Outcomes Research Institute, is imposed under the Patient Protection and Affordable Care Act (PPACA) on most health …
IRS Issues Guidance on New Health Care Reform Fee
Under the Patient Protection and Affordable Care Act (PPACA) issuers of certain health insurance policies and plan sponsors of certain self-funded health plans must pay a fee to fund a Patient-Centered Outcomes Research Trust Fund. This trust fund will be used to allow the Patient-Centered Outcomes Research Institute to conduct research on the clinical effectiveness …
Another Way to be Hit with Withdrawal Liability
Employers who participate in multiemployer pension funds know that if they withdraw from those funds they may be required to pay withdrawal liability if the plan is underfunded. Employers who sell their assets to an unrelated buyer can avoid that withdrawal liability if the buyer agrees to assume an obligation to contribute to the pension …
Dodd-Frank.com Post Regarding Regulation Z & Retirement Plans
BenefitsNotes.com is not the only blog maintained by attorneys at Leonard, Street and Deinard. Dodd-Frank.com, developed and maintained by attorneys at Leonard, Street and Deinard, is dedicated to making sense of the complex Dodd-Frank legislation and helping businesses understand how it will affect them specifically. A recent Dodd-Frank.com post highlights how the employee benefits …
Health Care Reform Challenges – Oral Arguments at the Supreme Court
On Monday March 26th, almost exactly two years after its enactment on March 23, 2010, the United States Supreme Court will begin the first of three days of oral arguments relating to the health care reform law, the Patient Protection and Affordable Care Act of 2010 (“PPACA”). The Supreme Court agreed to hear six hours …
Current Challenges and Best Practices for ERISA Compliance for 403(b) Plan Sponsors
The Department of Labor recently posted the report of the ERISA Advisory Council on Current Challenges and Best Practices for ERISA Compliance for 403(b) Plan Sponsors. The report contains a good side by side comparison of 403(b) and 401(k) plans that may be of interest to plan sponsors eligible for both types of plans…
Privacy and Security Issues Affecting Employee Benefit Plans
The Department of Labor recently posted the report of the ERISA Advisory Council on Privacy and Security Issues Affecting Employee Benefit Plans. The report contains some good due diligence questions for plan sponsors to ask their service providers about privacy and security of personal identifiable information (PII), especially for retirement plans. While banks and …