Category: Aisling University Employee Benefits Newsletters

2015 Plan Limits Announced

The IRS has announced cost-of-living adjustments affecting dollar limitations for retirement plans and related items for tax year 2015. Highlights include: The contribution limit for employees who participate in 401(k), 403(b), and most 457 plans is increased from $17,500 to $18,000. The catch-up contribution limit for those aged 50 and over is increased from $5,500 […]

Online Access to Federal SHOP Expected to Begin November 15th

Online enrollment for small employers to purchase employee health coverage through the federally-facilitated SHOP Marketplace (Small Business Health Options Program) is expected to open on November 15, 2014. Small employers may work with their current agent or broker to apply for and enroll in coverage, so long as the agent or broker has completed the […]

Social Security Benefits to Increase in 2015

Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 1.7 percent in 2015, the Social Security Administration has announced. The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that Social Security beneficiaries receive in January 2015, while increased payments to SSI beneficiaries will begin on December 31, 2014. Certain other changes that […]

Ebola and the Workplace: Guidance for Employers

Ebola is a rare, but often fatal, disease caused by infection with one of the Ebola virus strains. Symptoms of Ebola may appear anywhere from 2 to 21 days after exposure to the virus and include fever, severe headache, muscle pain, weakness, and stomach pain. According to the U.S. Centers for Disease Control and Prevention […]

Employers Subject to ACA Transitional Reinsurance Program Must Submit Annual Enrollment Counts by November 15th

A new form is now available for employers sponsoring certain self-insured plans (“contributing entities”) to make contributions required under the Affordable Care Act’s Transitional Reinsurance Program to support payments to individual market issuers that cover high-cost individuals.   Contributing Entities Health insurance issuers and certain self-insured group health plans offering “major medical coverage” that is […]

Reminder: Medicare Part D Notices Due 10/15

In preparation for the Medicare fall open enrollment period, employers sponsoring group health plans that include prescription drug coverage are required to notify all Medicare-eligible individuals whether such coverage is creditable. Creditable coverage means that the coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage. Written Disclosure Provided […]

IRS Updates Q&As on ACA Information Reporting

Two sets of recently updated Q&As from the Internal Revenue Service (IRS) provide guidance on the information reporting requirements under the Affordable Care Act (ACA). One set of Q&As relates to information reporting by health coverage providers under Internal Revenue Code (IRC) section 6055, and the other set of Q&As relates to reporting on offers […]

Additional Permitted Election Changes for Health Coverage Under Cafeteria Plans

New agency guidance expands the application of the permitted election change rules for employer-sponsored health coverage under a cafeteria plan in two situations – an employee’s enrollment in Marketplace coverage and reduction in hours of service – provided specific conditions are met. The guidance became effective on September 18, 2014.   Current Permitted Election Changes […]

IRS Adjusts Applicable Dollar Amount Used to Determine PCORI Fee

The Internal Revenue Service (IRS) has issued guidance which increases the applicable dollar amount used to determine the Patient-Centered Outcomes Research Institute (PCORI) fee. For plan years ending on or after October 1, 2014 and before October 1, 2015, the fee is $2.08 (multiplied by the average number of lives covered under the plan).   […]