The Obama Administration justified postponing until 2015 the Patient Protection and Affordable Care Act’s (ACA) mandatory employer and insurer reporting requirements, claiming it was done in response to business leaders who said they need more time in order to fully comply with the new reporting requirements. Republican leaders, however, called the delay an admission that the law is a failure. For details, see ¶2068R.(Read Intelliconnect) »
In a June 28 memorandum to federal executive departments and agency heads, Office of Personnel Management Acting Director Elaine Kaplan provided guidance on the changes that will take place for federal employees in the wake of the Supreme Court’s decision finding Sec. 3 of the Defense of Marriage Act (DOMA) unconstitutional. For details, see ¶2068S.(Read Intelliconnect) »
The IRS, the Employee Benefits Security Administration (EBSA), and the HHS (the Departments) have jointly issued regulations that simplify and clarify the exemption for group health plans established or maintained by certain religious employers (and group health insurance provided in connection with such plans) from the requirement under the Public Health Service Act (PHS Act) that various preventive services for women, including contraceptive services, be covered without cost-sharing. For more information, see ¶2068U.(Read Intelliconnect) »
The IRS has provided transition relief for 2014 from: (1) the information reporting requirements applicable to insurers, self-insuring employers, and certain other providers of minimum essential coverage under Code Sec. 6055; (2) the information reporting requirements applicable to large employers under Code Sec. 6056; and (3) the employer shared responsibility provisions under Code Sec. 4980H. For more information, see ¶2068V.(Read Intelliconnect) »
House lawmakers voted unanimously to name a provision in the tax code that allows nonworking spouses to make equal contributions to their IRAs after former Sen. Kay Bailey Hutchinson (R-TX). For more information, see ¶121V.(Read Intelliconnect) »
Revenue sharing payments received by a life insurance company in connection with an investment option offered to a plan may constitute plan assets if the plan has a contractual right to receive the funds, according to an EBSA advisory opinion. For more information, see ¶19,993D.(Read Intelliconnect) »
The Employee Benefits Security Administration (EBSA) has released frequently asked questions to help participants and beneficiaries who may have been adversely affected by the Oklahoma tornado. For more information, see ¶121Z.(Read Intelliconnect) »
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