Overwhelming Vote Passes Cornoavirus Relief Bill

Posted March 16, 2020 by Megan DiMartino

The U.S. House of Representatives passed the Families First Coronavirus Response Act (the “Act”) in an overwhelming vote on Saturday, March 14, 2020. President Trump has endorsed the legislation and the U.S. Senate is expected to vote on it today.

The Act will be the second emergency Coronavirus response measure to be passed. President Trump had previously signed a bill to provide $8.3 billion in funding to federal health agencies and declared a national emergency this past Friday over the pandemic. A third emergency measure is also being discussed.

Provisions of the Act
In addition to the funding for economic assistance and COVID-19 testing, the Act contains provisions intended to support workers:

  • 14 days of paid sick leave, at two-thirds (or more) of their regular rate of pay, for government workers and employees of companies with fewer than 500 employees. Leave is available to workers who are sick, have to care for a sick family member or have a child whose school or childcare facility has closed due to the Coronavirus.
  • Expansion of the Family and Medical Leave Act (FMLA) for employees of companies with fewer than 500 employees, requiring paid leave at the two-thirds rate after 14 days.
  • A tax credit for employers that provide paid sick leave benefits required by the Act.
  • Additional funding for state unemployment programs.

The Act does not contain a payroll tax suspension that was proposed by President Trump


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

CMS FAQs on Essential Health Benefits and COVID-19

Posted March 16, 2020 by Megan DiMartino

The Centers for Medicare & Medicaid Services (CMS) released a list of frequently asked questions (FAQs) on Essential Health Benefit (EHB) coverage and the Coronavirus (COVID-19). Under the Affordable Care Act (ACA), EHB reflects the scope of benefits covered by a typical employer and covers at least 10 specified categories of items and services.

CMS’ FAQs:

1.Does EHB currently include coverage for the diagnosis and treatment of COVID-19?
Yes. EHB generally includes coverage for the diagnosis and treatment of COVID-19. However, the exact coverage details and cost-sharing amounts for individual services may vary by plan, and some plans may require prior authorization before these services are covered.

Non-grandfathered health insurance plans purchased by individuals and small employers, including qualified health plans (QHPs) purchased on the Exchanges, must provide coverage for 10 categories of EHB. These 10 categories include, among other things, hospitalization and laboratory services. Under current regulations, each state and the District of Columbia generally determines the specific benefits that plans in that state must cover within the 10 EHB categories. This standard set of state-determined benefits is called the EHB-benchmark plan. All 51 EHB-benchmark plans currently provide coverage for the diagnosis and treatment of COVID-19.

Many health plans have publicly announced that COVID-19 diagnostic tests are covered benefits and that they will waive any cost-sharing that would otherwise apply to the tests. Furthermore, many states are encouraging their issuers to cover a variety of COVID-19-related services, including testing and treatment, without cost-sharing. Other states have announced that health plans must cover the diagnostic testing of COVID-19 without cost-sharing and waive any prior authorization requirements for such testing.

2.Is isolation and quarantine for the diagnosis of COVID-19 covered as EHB?
All EHB-benchmark plans cover medically necessary hospitalizations. Medically necessary isolation and quarantine required by and under the supervision of a medical provider during a hospital admission are generally covered as EHB. The cost-sharing and specific coverage limitations associated with these services may vary by plan. For example, some plans may require prior authorization before these services are covered or apply other limitations. Quarantine outside of a hospital setting (such as at home) is not a medical benefit, nor is it required as EHB. However, other medical benefits that occur in the home may be covered as EHB if they are required by and provided under the supervision of a medical provider (such as home health care or telemedicine), but this may depend on prior authorization or be subject to cost-sharing or other limitations.

3.When a COVID-19 vaccine is available, will it be covered as EHB, and will issuers be permitted to require cost-sharing?
A COVID-19 vaccine does not currently exist. However, current law and regulations require specific vaccines to be covered as EHB without cost-sharing, and before any applicable deductible is met, if the Advisory Committee on Immunization Practices (ACIP) of the Centers for Disease Control and Prevention (CDC) recommends them. Under current regulations, plans are not required to cover a new vaccine until the beginning of the plan year that is 12 months after ACIP issues a recommendation for it. However, plans may voluntarily choose to cover a vaccine for COVID-19, with or without cost-sharing, prior to that date.

In addition, as part of a plan’s responsibility to cover prescription drugs as EHB, as described above to cover ACIP-recommended vaccines, if a plan does not provide coverage of a vaccine (or other prescription drugs) on the plan’s formulary, enrollees may use the plan’s drug exceptions process to request that the vaccine be covered under their plan.

Takeaways:

  • EHB generally includes coverage for the diagnosis and treatment of COVID-19.
  • All EHB-benchmark plans cover medically necessary hospitalizations, including isolation and quarantine.
  • A COVID-19 vaccine does not currently exist. Plans are not required to cover any new vaccine until the beginning of the plan year, 12 months after the CDC recommends it. However, plans may voluntarily choose to cover a vaccine for COVID-19, with or without cost-sharing, prior to that date.

Source & Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

IRS HDHP-HSA Plans May Cover Coronavirus Costs as Preventive Care

Posted March 11, 2020 by Patrick Haynes

Today, in IRS Notice 2020-15, the Internal Revenue Service advised that HDHPs (High-Deductible Health Plans) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA).

 

In Notice 2020-15, the IRS said that health plans that otherwise qualify as HDHPs will not lose that status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been met. The IRS also noted that, as in the past, any vaccination costs continue to count as preventive care and can be paid for by an HDHP.

 

Today’s notice applies only to HSA-eligible HDHPs. Employees and other taxpayers in any other type of health plan with specific questions about their own plan and what it covers should contact their plan.

 

Coverage Issues

There have been many updates in this area. States like California have already issued a notice telling all fully-insured carriers to cover the costs without any cost-sharing measures. Self-funded plans have options about covering the costs with or without cost-sharing measures. Some TPAs are taking the position that they are covered without cost-sharing unless/until a self-funded group opts out.

Please check with your Account Manager and Acccount Executive about how this may affect your plan. And, rest assured that with IRS Notice 2020-15, if you choose to have the cost covered without deductible, copay or coinsurance your plan participants’ HSAs will not be effected.

 

Prior guidance/links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

Coronavirus – Keep Informed and Prepared, but Don’t Panic

Posted February 28, 2020 by Megan DiMartino

The intensive media coverage of the coronavirus outbreak (now officially designated as COVID-19) could be raising many concerns in your local schools and colleges. It can seem overwhelming, and without focusing on facts and keeping updated on the latest official information (and recommendations), can lead to some level of panic. In an effort to help everyone stay abreast of the current status of this threat, as well as help prepare for a possible higher-risk exposure, we recommend the following steps:

1. Stay up to date, relying on trusted news sources

Both the U.S. Centers for Disease Control (CDC) and the California Department of Public Health (CDPH) offer comprehensive and regularly updated information. At the moment, neither agency is making specific recommendations for schools/colleges.

  • As of 2/27/2020, the CDC states “For the general American public, who are unlikely to be exposed to this virus at this time, the immediate health risk from COVID-19 is considered low.”
  • As of 2/27/2020, the CDPH states “…the health risk to the general public in California remains low.” In addition, The Public Health Department is not recommending the cancellation of public events at this time. There is no evidence of sustained person-to-person transmission of the virus in the United States.”

2. Practice Precautionary Prevention Measures

It’s helpful for all community members to keep the fears of this new disease threat in perspective. In contrast to the widespread influenza (flu) activity throughout most of the country, coronavirus infections are extremely isolated at this point. Many of the precautions against the flu are the same actions that will help protect against coronavirus and similar infectious diseases. The California Department of Public Health recommends the following steps to prevent the spread of all respiratory viruses:

  • Washing hands with soap and water
  • Avoiding touching eyes, nose or mouth with unwashed hands
  • Avoiding close contact with people who are sick to reduce the risk of infection from any type of virus
  • Staying away from work, school or other people if you become sick with respiratory symptoms like fever and cough

3. Be Prepared

Your Emergency Operations Plan (EOP) should have both a “Continuity of Operations” plan as well as a “Pandemic Influenza” annex. While the risk remains low, now is the perfect time to review these plans/annexes, practice them (anything from a simple tabletop exercise to a full-practice “drill”), and make any modifications you may need. Should the CDC and/or CDPH make recommendations regarding the closure of schools, you will be in a much better position to respond and act on these recommendations having recently exercised your EOP. If your Emergency Operations Plan does not have either of these items, FEMA offers a template specific to Pandemic Influenza:

We encourage everyone to review the latest information from the CDC and CDPH to get a better understanding of the issue, utilizing the two links below:

Source: 


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

HHS Releases Federal Poverty Level Guideline Updates for 2020

Posted February 5, 2020 by Megan DiMartino

Author: Nathanael M. Alexander, Esq., Director of Compliance – AP Benefit Advisors

On January 17, 2020, the Department of Health and Human Services (HHS) published the updated Federal Poverty Level (FPL) guidelines for 2020. The revised FPL guidelines are effective as of January 15, 2020, with the new FPL level set at $12,670 for a person residing in the contiguous U.S. or Washington D.C., $14,680 for Hawaiian residents, and $15,950 for persons residing in Alaska.

What is the Federal Poverty Level?

A measure of household income issued every year by HHS. Federal poverty levels are used to determine eligibility for certain programs, subsidies, and benefits, including savings on Marketplace health insurance, and Medicaid and CHIP coverage. The FPL is a measurement of a family’s annual income, with each local, state, and federal assistance agency applying the guidelines for eligibility purposes in their programs in their own way, i.e., some agencies may define a household’s income as pre-tax while others may consider only a household’s post-tax income in their calculation for eligibility.

How often are the FPL Guidelines updated and to whom do they apply?

HHS updates the FPL guidelines annually every January, modifying them accordingly to account for inflation, and issues specific guidelines for each household size.

The FPL can affect employer-shared responsibility (ESR) assessments under the Affordable Care Act (ACA) as it pertains to both premium tax credits and affordability testing.

In order to be considered eligible for the premium tax credit, your household income must be between 100-400% of the federal poverty line amount in accordance with your family size. However, there are two exceptions that are applicable to those with household income below 100% of the corresponding federal poverty line. Those two exceptions are outlined here in the Instructions for Form 8962 (Premium Tax Credit Form), in addition to more specific information on how to go about obtaining the premium tax credit. It must of course be noted that household income alone does not solely qualify an individual to receive the premium tax credit, as other eligibility criteria must also be met. Aside from income, the other four factors that must be considered include the following:

  • cost of available insurance coverage,
  • state of residence,
  • physical address, and
  • family size.

For affordability testing, employers are utilizing this safe harbor test to determine whether or not their lowest-cost, self-only minimum essential coverage (MEC) plan is considered affordable to its employees. This is where the FPL guidelines come into play. If the employer is providing a plan that does not meet the affordability rules an employee would then have access to premium subsidies, so long as they meet the other requisite eligibility requirements. Premium subsidies are not available to individuals with a household income that exceeds the 400% FPL threshold, as discussed above, and to employees residing in the U.S. illegally. Since open enrollment for 2020 plans occurred in 2019, the 2019 FPL guidelines will be used to calculate affordability for any plans with a 2020 effective date. The maximum monthly premium contribution that meets the FPL safe harbor test for affordability would be set at 9.86% of the prior year’s FPL amounts divided by 12. So, for example, using the 2019 FPL amount for the mainland U.S., the formula would be (9.78% x $12,490) ÷ 12, which equals $101.79.

Please contact your Account Manager or Sales Executive for additional information on this topic.

Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

Compliance and Tax Round-Up (CA, DC, MA, NJ, RI, VT) – State Mandates and FSA/DCAP Changes for 2020

Posted February 3, 2020 by Patrick Haynes

Individual State Mandates (CA, DC, MA, NJ, RI, VT)

How did we get here?  The US Supreme Court ruled that the ACA individual mandate penalty (tax) was constitutional in 2012, and in December of 2017, Congress passed the Tax Cuts and Jobs Act, which reduced the individual mandate penalty to zero as of January 1, 2019.  Meanwhile, individual states are permitted to tax their citizens if they acquire and maintain health coverage for themselves, their legally married spouse, and their dependent children. In fact, Massachusetts has been taxing its citizens since 2007.

In 2019, New Jersey and the District of Columbia joined the ranks of states with penalties (taxes) imposed for people without health coverage.  And, effective for 2020, CA, RI and VT have joined the effort.

Here’s a summary of the states that have enacted individual mandate requirements.  When you waive health coverage on your employer’s plan, and you waive health coverage under your spouse’s employer’s plan, and you fail to make a purchase on healthcare.gov or on any state health exchange you may owe significant penalties (taxes) when you file your state income tax returns.  Please consult with your accountant and/or tax adviser about how your situation is impacted by you not having health coverage.  (Also note:  DC, NJ, CA and MA also require employers to communicate about coverage offerings through  mechanisms similar to the 1094/1095 processes.  Please discuss those requirements with your Account Manager.)

California – Two Messages Required about Flex Spending Account Deadlines

On August 30, 2019, Governor Gavin Newsom of California enacted Bill No. 1554.  While existing CA law requires all employers to notify employees of information relating to employment and benefits, this new bill requires employers to notify employees, who participate in flexible spending accounts and work in California, of any deadlines applicable to withdrawing funds before the end of the plan year.

Generally, flexible benefits plans are written to accommodate a “run-out” period, after the formal end of the plan year, for participants to turn in claims incurred during the plan year. Some plans may allow a 2.5 month extended period of coverage (grace period), after the end of the plan year, in which to incur expenses during the current year and use left-over funds from the previous plan year. Additionally, plans may allow participants to carry over up to $500 from a previous plan year to the current year from their healthcare flexible spending accounts. (Subject to whatever limitations the plan administrator imposes to protect their plan, their spend and perhaps how their next year’s Health Savings Accounts operate.  Please check with your account manager for details.)

The deadline to withdraw funds may be different according to the benefits selected. For instance, the dependent care portion of the plan may have a run-out period for turning in claims incurred in the previous plan year, while the healthcare flexible spending account (FSA) may allow for a grace period or carry over, and thus a separate run out period.  These factors should be taken into consideration when creating and distributing employee notices including, whether the FSA account is for dependent care, healthcare or adoption assistance.

The Notice needs to be delivered to participants before the plan’s year end advising them of all deadlines to withdraw funds. The Notice also must be provided in two different forms, one of which may be electronic.

Notices may be provided as outlined below, but are not limited to the following:

  • Electronic mail communication
  • Telephone communication
  • Text message notification
  • Postal mail notification
  • In-person notification

When does this take effect?

For plans that end anytime in 2020, up to and including December 31, 2020, the employer is required to provide the two (2) notices to CA employees prior to their plan’s year-end.

Please contact your Account Manager or Sales Executive for additional details.  Thank you.

 

Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

DOL Increases Civil Penalty Amounts for 2020

Posted January 21, 2020 by Megan DiMartino

On January 15, 2020, the Department of Labor (DOL) released its 2020 inflation-adjusted civil monetary penalties that may be assessed on employers for violations of a wide range of federal laws, including:

  • The Fair Labor Standards Act (FLSA);
  • The Employee Retirement Income Security Act (ERISA);
  • The Family and Medical Leave Act (FMLA); and
  • The Occupational Safety and Health Act (OSH Act).

To maintain their deterrent effect, the DOL is required to adjust these penalties for inflation, no later than January 15 of each year. Key penalty increases include the following:

  • The maximum penalty for violations of federal minimum wage or overtime requirements increases from $2,014 to $2,050 per violation.
  • The maximum penalty for failing to file a Form 5500 for an employee benefit plan increases from $2,194 to $2,233 per day.
  • The maximum penalty for violations of the poster requirement under the FMLA increases from $173 to $176 per each offense.

Action Steps

Employers should become familiar with the new penalty amounts and review their pay practices, benefit plan administration and safety protocols to ensure compliance with federal requirements.

2020 Penalty Amounts

Should you have any questions, please reach out to your Account Manager or Account Executive.

Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

HRCI & SHRM Pre-Approved Webinar | The ABCs of FMLA & ADA: Basics of the Family Medical Leave Act & Americans with Disabilities Act

Posted January 16, 2020 by Megan DiMartino

Think you could pass a pop quiz on FMLA and ADA? It’s typically left out of discussions about employee welfare benefits regulations, so even the most dedicated student may be a little fuzzy on the details.

Topics:

  • Essentials for both FMLA & ADA and why they exist
  • Characteristics of each
  • Common questions among benefits professionals
  • Regulatory “musts” for employers

Please join us for this HRCI* and SHRM** pre-approved, complimentary, one-hour webinar as Olivia Ash, JD, MS, Compliance Consultant with ComplianceDashboard, LLC, reviews basics of these federally regulated “employment” laws and how to navigate common questions.

Webinar details:

  • Thursday, January 30, 2020
  • 2:00pm – 3:00 pm EST
  • No cost to attend
  • This webinar is open to all HR and Finance Professionals – but not to brokers, agents, TPAs and PEOs

Register Now


*The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

**AP Benefit Advisors, LLC is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1 PDC.


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

2019 4th Quarter Compliance Update

Posted January 7, 2020 by Megan DiMartino

Topics include:

  • IRS Offers Another Extension for 1094s and 1095s
  • 2019 ACA Forms & Instructions
  • Change in Benefits?
  • A New SBC Template Will be Required for 2021
  • Are You an ALE for 2020?
  • DOL Issues Model Health Care Transparency Disclosure Documents
  • 2019 Year-End Round Up: ACA Changes – The Good, the Bad and the Ugly
  • And more!

Read Now


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

2019 Year End Round Up: ACA Changes – The Good, the Bad and the Ugly

Posted December 30, 2019 by Patrick Haynes

On December 20, 2019, President Trump signed into law the 2020 Further Consolidated Appropriations Act—spending legislation which also included important changes for employer-sponsored health plans, repealing several taxes enacted as part of the Affordable Care Act (ACA) and extending one.  Here’s the roundup:

Gone (the Good):

  • The Cadillac Tax,
  • HIT (Health Insurance Tax),
  • Medical Device Tax, and
  • The Parking and Public Transit Benefits Tax.

Extended (the Bad):  PCORI has been extended for another decade.  **However, as of June 1, 2020, the IRS has yet to set the rate for 1/1 plans ending 12/31/2019.  It is expected to be at or above the $2.45 per person charge.  June 8, 2020 update:  IRS released $2.54 per person rate (details here).**

TBD (the Ugly):

  • Individual mandate still up in the air (a divided panel in the US Court of Appeals, 5th Circuit, rules 2-1 in favor of 20 states led by Texas, that filed suit seeking to strike down the ACA); and
  • no ACA regulations (still/yet) on making 105(h) applicable to fully-insured plans.

The Details

  • Repealed:  Cadillac Tax. This measure would have imposed a 40% excise tax on plans with annual premiums exceeding $10,800 for individuals or $29,500 for a family. Implementation of the tax was supposed to happen in 2018 and has currently been delayed to 2022. While the Cadillac tax was never levied, its looming existence has made it very difficult for employers to plan future benefit levels and costs. Moreover, the way that the tax was structured would have led to many employer plans, not just the “gold-plated” ones, being subject to an excise tax in future years.
  • Repealed: Health Insurance Tax (HIT). This provision, which went into effect in 2014, imposed an annual tax on health insurers. Actuarial analyses have found that the tax added to the cost of coverage purchased in all market segments, including individual, large and small employers. In 2018, Congress enacted a one-year suspension of the tax, but it was scheduled to go back into effect at the end of 2019. If it had not been repealed, the HIT would have imposed a $16 billion tax on health plans in 2020.
  • Repealed:  Medical Device Tax. This was a 2.3% excise tax on the value of medical devices (x-ray machines, hospital beds, MRI machines) sold within the United States. Since it went into effect in 2013, it was suspended twice. Critics of the tax cite research that shows that it lowered the medical device industry’s research and development spending.
  • Extended until 2029/2030:  Patient-Centered Outcomes Research Institute (PCORI). This annual fee is a tax on health plans, which was included in the ACA as an initial funding mechanism for the federal program which funds research on the comparative effectiveness of medical treatments. The fee (which is set annually and was $2.45 per person covered by the plan in 2019) is paid by insurers for fully-insured plans and employers sponsoring self-insured plans. It was set to sunset this year, with the last payment due on July 31, 2019 for calendar year plans and July 31, 2020 for non-calendar year plans. The Appropriations Act extends the PCORI fee for another 10 years, extending the financial and administrative burden on insurers and employers.  Insurers and Employers (with HRAs or any other self-funded plans) will be paying PCORI fees until 2029 or 2030 depending upon their plan year.
  • Retroactive-Repeal:  Parking Tax (and Return of Employee Only Parking).  Medical Device Tax.  Section 512(a)(7), enacted as part of the 2017 Tax Cuts and Jobs Act (the “2017 Act”), required tax-exempt organizations to include in unrelated business taxable income their costs for providing “qualified transportation fringe benefits” to their employees. The 2020 Act repeals section 512(a)(7) in its entirety and retroactive to the date of its enactment — in other words, it is as if section 512(a)(7) never existed.
    • It is expected that the IRS will issue guidance relating to the repeal – rules for amending Forms 990-T that included the parking tax, and for claiming refunds of those taxes.
    • In the meantime, tax-exempt organizations may cease making any estimated tax payments related to the repealed parking tax.
    • Also, just in time for the new year, nonprofits can consider promptly re-installing “employee parking only” signage that was removed in response to the 2017 Act
  • Also, the IRS issued a set of Questions-and-Answers on 12/19/2019, explaining the Individual Shared Responsibility provisions of the ACA after the elimination of the individual shared responsibility penalty. These Q&A’s:
    • define MEC (Minimum Essential Coverage);
    • explain how an individual can determine if their plan meets MEC;
    • explain who is subject to MEC requirements; and
    • provide a list of exemptions from the general coverage requirement rules.

Should you have any questions – please reach out to your Account Manager or Account Executive.  Thank you.

Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.
AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.
Photo Credit: Photo by Mahir Uysal on Unsplash

 

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