October 2013 - Employee Benefits I AP Benefit Advisors

Treasury Modifies "Use-it-or-Lose-it" Rule for Health Care Flexible Spending Accounts

Moments ago, the Department of Treasury issued a press release, IRS Notice 2013-71 and an informational fact sheet announcing a major policy change relating to Health Care Flexible Spending Accounts (HCFSAs) that has many positive implications for all HCFSA constituents – including administrators, employers and participants.  The Department of Treasury has modified its HCFSA “use-it-or-lose-it” […]

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2014 401(k) Limits remain unchanged–other updates from the IRS

IRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2014 WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014.  Some pension limitations such as those governing 401(k) plans and IRAs […]

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FICA Adjusts: Income Subject to Payroll Tax Increases in 2014

Earnings up to $117,000 hit by Social Security FICA tax; more will face Additional Medicare Tax 10/30/2013 By Stephen Miller, CEBS While the typical U.S. employee may expect to earn a bit more in 2014, high earners will find that more of their salary is subject to Social Security payroll taxes. And since income thresholds […]

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Self-insured win partial PPACA fee exemption

From BenefitsPro.com Self-insured employers and self-administered health plans are about to catch a break, thanks to fine-tuning of the Patient Protection and Affordable Care Act by the Departmentof Health and Human Services. In a soon-to-be-published compendium of rule modifications, HHS says it will exempt certain self-insured employers from the second two years of paying the […]

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Popular PPACA Blogs

The Patient Protection and Affordable Care Act has proven one of the largest and most complex legislative undertakings in our nation’s history. Given the depth and complexity of the healthcare system, this surprises few people. Yet the ramifications of these legislative changes are constantly rediscovered and reevaluated as additional pieces of the puzzle fall into […]

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NJ Becomes 14th State to Recognize Gay Marriage

Same-sex weddings have begun in New Jersey, which has become the 14th state to recognize nuptials between gay partners. Weddings were held in several cities and towns across the state in the first minutes of Monday morning, as soon as a court order requiring the state to recognize gay marriage went into effect. Later in […]

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Complimentary Benefits Compliance Webinar

PPACA has presented interesting opportunities for employers who have promised healthcare benefits to retirees under the age of 65. In December 1990, The Financial Accounting Standards Board (FASB) changed the practice of accounting for post-retirement benefits on a pay-as-you-go (cash) basis by requiring accrual accounting of the expected cost of providing those benefits during the […]

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IRS Employment Tax Overpayment Procedural Revisions and Post-Windsor Guidance

From EBIA The IRS has issued simplified procedures that employers may use to correct employment tax (FICA and federal income tax withholding) overpayments for 2013 and prior years resulting from the change in tax treatment for health and certain other benefits provided to employees’ same-sex spouses due to the Supreme Court’s partial invalidation of DOMA […]

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