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Trump Signs Bill to Delay Cadillac and Health Insurance Taxes

Tuesday, January  23,  2018

On January 22, 2018, the U.S. Congress voted to pass a bill that would continue to fund the government through February 8, 2018. President Trump signed the bill today, January 23, 2018. In addition to continuing government funding, the bill also includes two legislative victories for employers: delaying the Cadillac Tax until 2022 and instituting … Continue reading

December Compliance Recap

Tuesday, January  9,  2018

December was a relatively busy month in the employee benefits world. The Internal Revenue Service (IRS) delayed the reporting deadlines in 2018 for the 1095-B and 1095-C forms to individuals. President Trump signed the Tax Cuts and Jobs Act. The Centers for Medicare and Medicaid Services (CMS) released guidance on accommodation revocation notices. A U.S. … Continue reading

IRS Announces Extension for Furnishing 1095-B & 1095-C Forms to Employees

Wednesday, December  27,  2017

Recently, the Internal Revenue Service announced an extension for employers to provide 1095-B or 1095-C Forms to their employees. The IRS announced a 30-day extension, extending the due date from January 31, 2018 to March 2, 2018. The IRS has not announced an extension for filings to the IRS. Therefore, employers should prepare their 1094-B, … Continue reading

Innovative Partners with Morey’s Piers & Beachfront Water Parks

Thursday, November  30,  2017

Innovative is excited to announce our new partnership with Morey’s Piers & Beachfront Water Parks. Morey’s Piers, located in Wildwood, New Jersey is an iconic seaside amusement park comprised of three amusement piers and two beachfront waterparks beloved by beachgoers far and wide. Innovative has been selected as the Benefit Consulting Firm tasked with developing … Continue reading

IRS to Send ACA Penalty Letters

Thursday, November  30,  2017

The Internal Revenue Service (IRS) has indicated that it plans to begin notifying employers by year end of their potential liability for failing to provide sufficient health coverage that is compliant with the Patient Protection and Affordable Care Act (ACA). The agency will begin notifying Applicable Large Employers (ALEs) of their potential liability for the … Continue reading

DOL Overtime Rule Defeated in Court, DOL to Appeal

Wednesday, November  8,  2017

As you may recall, the Department of Labor put forth overtime regulations that would have taken effect last December, enabling 4.2 million employees to be eligible for time and a half wages for every hour worked over the standard 40 hours per week. However, a number of business groups filed a lawsuit challenging the DOL’s … Continue reading

IRS Releases Maximum Contribution, Deferral and Compensation Limits for HSA, FSA, and 401(k) for 2018

Wednesday, October  25,  2017

The IRS has released the maximum contribution limits for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) for 2018.  The IRS also released the maximum deferral and compensation limits for 401(k) accounts. Health Savings Accounts Single Coverage Maximum Contribution Limit: $3,450 ($50 increase from 2017) Family Coverage Maximum Contribution Limit: $6,900 ($150 increase from … Continue reading

President Trump Ends ACA Cost Sharing Reductions

Thursday, October  12,  2017

On the evening of October 12, 2017, President Trump announced that cost sharing reductions for low income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped. The Department of Health and Human Services (HHS) has confirmed that payments will be stopped immediately. It is anticipated at least some state … Continue reading

Compliance Alert!

Monday, October  9,  2017

Two tri-agency (Internal Revenue Service, Employee Benefits Security Administration, and Centers for Medicare and Medicaid Services) Interim Final Rules were released and became effective on October 6, 2017, and will be published on October 31, 2017, allowing a greater number of employers to opt out of providing contraception to employees at no cost through their … Continue reading

Ryan Kastner Speaks at Pennsylvania State SHRM Conference

Friday, September  22,  2017

Earlier this morning, Innovative’s Employee Benefits Consultant, Ryan Kastner, had the pleasure of presenting at the Pennsylvania State SHRM conference in State College, PA. Ryan’s presentation, “Healthcare Trends in the Trumpcare Era” detailed the most recent national and regional employer health plan trends from the United Benefit Advisor’s  Annual Health Plan Survey and detailed strategic … Continue reading

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