IRS Revenue Procedure 2024-40 includes updated penalty amounts that may apply to reporting entities that fail to comply with the Affordable Care Act’s (ACA) requirements under Internal Revenue Code Sections…
The National Council of Compensation Insurance (NCCI) recently published a new study showing the relationship between injury frequency and weather conditions as they relate to workers’ compensation claims. In the…
On Oct. 22, 2024, the IRS released Revenue Procedure 2024-40 (Rev. Proc. 24-40), which includes the inflation-adjusted limit for 2025 on employee salary reduction contributions to health flexible spending accounts…
Data Backup and Recovery Plans Data loss from cyberattacks, hardware failures, failed cloud synchronizations, natural disasters, human errors, and other events can lead to significant disruptions, financial losses and compliance…
On Oct. 17, 2024, the IRS issued Notice 2024-75 (the Notice) to expand the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP)…
On Oct. 15, 2024, the U.S. Department of Labor’s (DOL) Office of the Solicitor (SOL) released a special enforcement report indicating seven “fine-print” employment-related contract provisions that the SOL is…
In response to the COVID-19 pandemic, the U.S. Congress enacted legislation that temporarily allowed high deductible health plans (HDHPs) to provide benefits for telehealth services before plan deductibles were met.…
The IRS has released a private letter ruling (No. 202434006) approving an employer’s program that gives employees the option to direct employer contributions toward several different offered benefits. A private…
The Inflation Reduction Act of 2022 (IRA) includes several cost-reduction provisions affecting Medicare Part D plans, which may impact the creditable coverage status of employer-sponsored prescription drug coverage beginning in…
On Sept. 9, 2024, the Departments of Labor, Health and Human Services, and the Treasury (Departments) released a final rule to strengthen the requirements of the Mental Health Parity and…