New Employee Classification Rule
In January, the Department of Labor (DOL) Wage and Hour Division introduced a rule that changes the way workers are classified under the Fair Labor Standards Act (FLSA). This Final […]
RxDC Reporting due to CMS by June 1, 2024
The Centers for Medicare and Medicaid Services (CMS) has updated the Prescription Drug Data Collection (RxDC) resources. The updates include changes to the RxDC Reporting Instructions and new RxDC templates […]
Medicare Creditable Coverage Disclosure Due to CMS by March 1, 2024
The Medicare Modernization Act (MMA) established annual notification requirements for employer-sponsored group health plans with prescription drug coverage. Per the MMA, employers sponsoring these plans are required to disclose annually […]
2024 ACA Reporting Code Reference Sheet
2024_ACAReportingCodesReference
IRS Issues Additional Guidance for SECURE 2.0 Act
In an effort to provide necessary clarity for employers and plan sponsors, the Internal Revenue Service (IRS) issued long-awaited guidance for various provisions under the SECURE 2.0 Act (SECURE 2.0). […]
IRS Releases 401(k) Guidance For Long-Term Part-Time Employees Under the Secure 2.0 Act
On November 24, 2023, the IRS released long-awaited guidance around the updated 401(k) eligibility requirements pertaining to long-term part-time employees (LTPT) under the SECURE 2.0 Act of 2022 (SECURE 2.0). […]
IRS Issues 2024 FSA and Commuter Limits
On November 9, 2023, the IRS released the long awaited 2024 maximum contribution limits for Flexible Spending Arrangements (FSA) and Commuter accounts. A bit later than usual, Revenue Procedure 2023-34 […]
PS Plan and Retroactive Amendment
Under the SECURE Act, employers can adopt a profit-sharing plan for the prior year, as long as the plan is established before the employer’s tax-filing deadline, including extensions. This means […]
Departments Move Forward with Enforcement of Deferred Machine-Readable File Requirement
The Departments of Labor, Health and Human Services and Treasury (The Departments) have released updated FAQs around the requirement for plans and issuers to post machine-readable files on a public […]
Joint Agency Guidance on Gag Clause Prohibition for Health Plan Agreement
On February 23, 2023, the Department of Labor (DOL), the Department of Health and Human Services (HHS), and the Internal Revenue Service (IRS) (the “Agencies”) released FAQs addressing the implementation […]
