Benefits Buzz

Posted August 8th, 2022 in Employers, Producers
The Internal Revenue Service (IRS) recently issued Revenue Procedure 2022-34 which includes important details as it relates to Advanced Premium Tax Credits (APTCs) on Health Insurance Marketplaces and “affordable coverage” as it relates to the Employer Mandate for plan years starting in 2023.
 

Advanced Premium Tax Credits (APTCs)

 
Posted August 3rd, 2022 in Employers, Producers
Many health and welfare programs offered by employers are subject to non-discrimination testing as identified in the Internal Revenue Code (the“Code”). The non-discrimination tests are designed to ensure that certain groups of employees are not treated more favorably than other groups of employeesin terms of benefits.
 
Posted July 20th, 2022 in Employers, Producers

The COVID-19 national emergency was set to expire on July 15, 2022; however, a 90-day extension of the national emergency was issued, and the national emergency is now set to expire on October 13, 2022 (absent another extension).

Posted June 1st, 2022 in Individuals

On April 19, 2022, the Department of Labor (DOL), Department of Health and Human Services (HHS), and the Department of Treasury (DOT) issued some Frequently Asked Question (FAQ) guidance pertaining to the new Transparency in Coverage (TiC) rules that will start to be enforced beginning on July 1, 2022 (and applicable to plan years starting on or after January 1, 2022).

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Posted May 11th, 2022 in Individuals

Last week, the Internal Revenue Service (IRS) published Rev. Proc. 2022-24 which includes the 2023 limits for qualified high deductible health plans (HDHPs) and Health Savings Accounts (HSAs). Below is a summary of these limits:

Minimum Deductible to Qualify as an HDHP

Posted May 2nd, 2022 in Individuals

Lifestyle Spending Accounts (LSAs) have become one of the hottest new employee benefit programs. LSAs are sometimes referred to by other names, such as Personal Spending Accounts or some even refer to them simply as Wellness Programs. There could be a slew of other names, but we refer to them as LSAs.

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