Author: Andrew Wilson, Regulatory and Legislative Specialist, Hays Companies Overview of IRC §105(h) Nondiscrimination Testing Health Flexible Spending Accounts (HFSAs) are a type of tax-advantaged medical account that reimburses employees for eligible health care expenses and are a component of many employer-sponsored cafeteria plans. Specifically, IRC §105(h) prohibits those plans from discriminating in favor of “highly compensated […]
Author: Cindy Niesen, Associate Director: Research & Compliance, Hays Companies Last week, the US Departments of Health and Human Services (HHS), Treasury and Labor jointly issued an FAQ stating that for 2020 they will not enforce new guidelines (which were incorporated into HHS’s Notice of Benefit and Payment Parameters for 2020) regarding drug manufacturers’ assistance […]
Many employers that sponsor self-insured health plans are under the assumption that their Notice of Privacy Practices covers their responsibilities under HIPAA. While the Notice of Privacy Practices is an excellent starting point, there is more to HIPAA Privacy and Security that you need to know.
As the Hays Research and Compliance team looks towards the new year, we want to inform our clients that there will be two plan design changes to consider for 2020: Affordable Care Act out-of-pocket maximum dollar limits, and, High Deductible Health Plan limits. Affordable Care Act Out-Of-Pocket Maximum Dollar Limits This April, the U.S. Department […]
Affordability Safe Harbors The safe harbor percentage for 2019 is 9.86% (IRS per Rev. Proc. 2018-34). The safe harbor percentage for 2020 is 9.78% (IRS per Rev. Proc. 2019-29). Employer Shared Responsibility Tax (employer mandate) – applicable to the 2018 plan year 4980(a) tax for not offering minimum essential coverage to at least 95% of […]
On July 23, 2019, the Internal Revenue Service (IRS) issued Revenue Procedure 2019-29 to index the contribution percentages in 2020 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2020, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed:
In today’s war for talent, the power unequivocally lies in the hands of the candidates. As a result, expectations for workplace benefits are rapidly shifting. Employers recognize that attractive benefit plans are critically essential to engage and retain a competent workforce, but rising costs (usually in the group health sphere) can be cost-prohibitive, hindering an organization’s ability to rework their offerings substantially.
On July 17, 2019, the IRS released Notice 2019-45 to add care for a range of chronic conditions to the list of preventive care benefits that can be provided by a high deductible health plan (HDHP) without a deductible.
In this 1-hour webinar, presented by Hays Companies Research and Compliance Department, we present an overview of HIPAA Privacy and Security rules applicable to group health plans, as well as the latest requirements for the privacy and security of protected health information (PHI) and the role of the employer as plan sponsor. Other topics include: […]