On September 18, 2014, the Internal Revenue Service (IRS) issued Notice 2014-55 which allows employers to amend their Section 125 plans to recognize several new change in status events.
In order for the Internal Revenue Service (IRS) to verify that individuals have the required minimum essential coverage, individuals who request premium tax credits are entitled to them, and large employers are meeting their shared responsibility (play or pay) obligations, employers and insurers will be required to provide reporting on the health coverage they offer. Reporting will first be due early in 2016, based on coverage in 2015
Employer Webinar Series
Wellness Programs and Health Care Reform
Tuesday, October 14, 2014
2:00 p.m. ET / 11:00 a.m. PT
While tobacco, and specifically cigarette, use is down, the use of electronic cigarettes is gaining popularity. An "e-cigarette," as they are commonly known, is a battery-powered vaporizer that simulates tobacco smoking, though it contains no tobacco. However, usually the vaporized liquid does contain nicotine.
Ask any employee how they’re doing and you’re likely to hear the answer, "I’m feeling stressed today." Oh, really? EVERYONE at work is stressed at one time or another.
August 2014 brought a court case that will be of interest to employers that apply significant penalties to those who choose not to participate in wellness programs. The Department of Health and Human Services (HHS) has now provided an additional way for religious organizations that object to covering contraceptives to receive an exemption and has offered some insight into how it will allow closely-held for-profit organizations that object to covering contraceptives to receive an exemption.
The Employee Retirement Income Security Act (ERISA) lays out the definition and responsibilities of fiduciaries. Individuals who oversee employee benefit plans need to understand these requirements.
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