Journal of Accountancy Large Logo

Search Results

Employee Benefits

Sort by: Show:
Page  1 | 2 | 3 | 4 | 5 >> 

1. The Sec. 4980H assessable payment for large employers  

BY Benjamin Pruett, J.D.
Employers near the threshold of 50 full-time and full-time-equivalent employees (FTEs) or with a high proportion of seasonal workers should be taking measures now to record employees’ daily hours of service and other data relevant to the Sec. 4980H assessable payment for large employers regarding minimum essential health coverage.

2. Health care reform essentials  

BY Mark O. Dietrich, CPA/ABV and Brian K. Marks
The Patient Protection and Affordable Care Act (PPACA), P.L. 111-148, created the most significant government health care program since the Medicare and Medicaid legislation in the 1960s. The law’s complexity is compounded by the intricacies and interdependencies of health insurance and the health care delivery system that the legislation and related regulations have struggled to address.

3. Guidance issued on application of Windsor to retirement plans  

BY Alistair M. Nevius, J.D.
Qualified plans must recognize same-sex marriages after the Windsor decision and must be amended, if need be, to make them conform to the results of that decision. Under guidance issued by the IRS, administrators of qualified retirement plans must recognize the same-sex spouses of legally married participants as of June 26, 2013, but are not required to amend their plans to retroactively recognize participants’ legal same-sex marriages before that date.The Supreme Court, in Windsor, 133 S.

4. Regulations provide guidance for small-employer premium tax credit   WebExclusive

BY Sally P. Schreiber, J.D.
The IRS issued final regulations on the Sec. 45R credit for small employers that offer health insurance coverage for employees (T.D. 9672). The regulations provide guidance on how to determine full-time-equivalent employees (FTEs) and average annual wages, how to calculate the credit, and what is a “qualifying arrangement” for purposes of the credit.

5. New rules allow one-month orientation period before 90-day health plan waiting period begins   WebExclusive

BY Sally P. Schreiber, J.D.
The IRS, the Labor Department, and the Department of Health and Human Services jointly issued final regulations (REG-122706-12) governing the maximum length of time an employee orientation period can last consistent with the 90-day waiting period under the Patient Protection and Affordable Care Act, P.L. 111-148, which prohibits employers from requiring new employees to wait more than 90 days before they are eligible for health insurance coverage.

6. Final rules govern tax treatment of distributions to pay accident or health insurance premiums   WebExclusive

BY Sally P. Schreiber, J.D.
On Friday, the IRS finalized regulations that provide that distributions from qualified retirement plans to pay accident or health insurance premiums are taxable unless a statutory exclusion applies (T.D. 9665). However, arrangements where amounts are used to pay premiums for disability insurance to replace retirement plan contributions in the event of a participant’s disability are not treated as taxable under the regulations if they meet certain requirements.

7. Businesses lagging in preparation for new health care laws   WebExclusive

BY Ken Tysiac
Many U.S. employers are lacking in preparation for—and awareness of—new health care laws, according to a survey.More than one-third (36%) of more than 800 corporate decision-makers said they are not very familiar with the requirements of the Patient Protection and Affordable Care Act, P.L. 111-148, according to a survey sponsored by global insurance giant Travelers.Almost one-third (31%) of respondents said they are only somewhat familiar with the law’s requirements.

8. IRS provides simplified employer health care coverage reporting  

BY Sally P. Schreiber, J.D.
The IRS released final regulations to implement simplified reporting requirements of employers to report health care coverage information under Secs. 6055 and 6056 starting in 2015 (T.D. 9660 and T.D. 9661). Sec. 6055 requires providers of minimum essential coverage and providers of coverage through an employer’s group health plan to report information that will allow taxpayers to establish and the IRS to verify that the taxpayers were covered by minimum essential coverage and their months of enrollment during a calendar year.Sec.

9. IRS delays health coverage mandate another year for midsize employers  

BY Alistair M. Nevius, J.D.
The IRS in February delayed the so-called shared-responsibility requirement under Sec. 4980H for employers who have 50 to 99 full-time-equivalent employees (FTEs) in 2014. These employers will now have until 2016 to offer health care coverage to their employees or be subject to the shared-responsibility penalty. However, these employers will still be required to report on their workers and health care coverage in 2015, for which the IRS separately issued final regulations providing for simplified methods (see next item).The delay was part of final regulations under Sec.

10. IRS issues 2015 inflation adjustments for HSAs   WebExclusive

BY Alistair M. Nevius, J.D.
The IRS issued the calendar year 2015 inflation-adjusted figures for the annual contribution limits for health savings accounts (HSAs) and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans (Rev. Proc. 2014-30). Individuals who participate in a health plan with a high deductible are permitted a deduction for contributions to HSAs set up to help pay the individuals’ medical expenses (Sec.
Page  1 | 2 | 3 | 4 | 5 >> 
CPE Direct articles Web-exclusive content
AICPA Logo Copyright © 2013 American Institute of Certified Public Accountants. All rights reserved.
Reliable. Resourceful. Respected. (Tagline)