Medicare Part D Disclosures Due By February 29

Group health plan sponsors who provide prescription drug coverage to individuals who are eligible for coverage under Medicare Part D, are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS). The plan sponsor must complete the online disclosure within 60 days after the …

HHS Increases Civil Penalties for HIPAA Violations

The Department of Health and Human Services (HHS) published a final rule increasing the civil monetary penalties for violations of laws enforced by HHS, including the Health Insurance Portability and Accountability Act’s (HIPAA) privacy and security rules. Each year, HHS is required to adjust these penalties for inflation to improve …

ACA Reporting Deadlines Are Approaching

Affordable Care Act (ACA) reporting deadlines are approaching soon under Section 6055 and Section 6056 for the 2019 calendar year. Reporting entities must: File returns with the Internal Revenue System (IRS) by February 28, 2020 if filing on paper (or March 31, 2020 if filing electronically); and Furnish 2019 Forms …

2020 Health Plan Compliance Deadlines

Every year employers that sponsor group health plans are subject to numerous reporting and disclosure requirements. Not all compliance requirements will apply to every employer, but group health plan sponsors should familiarize themselves with health plan compliance deadlines. For non-calendar year plans, these deadlines will need to be adjusted to …

Draft Forms for 2019 ACA Reporting Released

Over the years, the Affordable Care Act (ACA) has created reporting requirements under Code Sections 6055 and 6056. These rules require certain employers to provide information to the Internal Revenue System (IRS) about the health plan coverage they either offer, don’t offer, or provide to their employees. 2019 Draft Forms …

IRS Announces Benefit Plan Limits for 2020

The Internal Revenue System (IRS) recently announced the 2020 dollar limits for employee benefits including: High Deductible Health Plans (HDHPS), Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Transportation Benefits, and Adoption Assistance. As cost of living expenses continue to rise due to inflation, the IRS annually adjusts contribution limits …