From policy reminders to breaking news on the federal and state level, we keep our clients and partners updated on the topics that matter in healthcare, wellness and employee benefits.
Frequently Asked Questions
If an employee failed to establish an HSA in 2018, but was otherwise HSA-eligible in 2018, can the individual (or the employer on their behalf) make 2018 HSA contributions in 2019?
The short answer is yes. Generally speaking, contributions can be made to an HSA up until the due date of the individual’s (employee’s) federal income tax return for that particular year. That means for 2018 contributions, individuals can contribute to their HSA…Read More »
With the ACA Section 6056 employer reporting deadlines fast approaching, what are some of the most common reporting errors that employers make?
Large employers with 50 or more full-time employees in 2017, including full-time equivalents, are required to comply with certain reporting requirements under Section 6056 of the IRC for calendar year 2018. The employer must complete and distribute a Form 1095-C by March…Read More »
How does an employer determine if they are over the 250-form threshold for the Forms W-2 reporting requirement? And if over the threshold, what types of coverage must be reported?
Generally, the count is based on the number of Forms W-2 filed under each separate EIN for the previous calendar year. To determine if an employer must provide the cost of coverage for 2018, the employer would look back and determine if…Read More »
Are shareholders (2% or more) of S-corporations eligible to pay for benefits on a tax-advantaged basis through the employer’s cafeteria plan?
A more than 2% S-corporation shareholder is not considered an employee for IRC Section 125 purposes. They are considered self-employed. Only employees can participate in pre-tax benefits through a Section 125 cafeteria plan. This means that individuals who are considered self-employed are…Read More »
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