Each fall, many of the same things happen. The leaves fall. I drink too many pumpkin spice lattes. The Bengals start to disappoint. And, the IRS announces the retirement plan limits for the following calendar year. Right on cue, as I was sipping a pumpkin spice latte yesterday, the IRS announced the 2015 limits. A majority of these ...
If so, you should review the most recent ACA FAQ issued by the DOL. For those not familiar, reference-based pricing is a structure where the plan pays only a fixed dollar amount (or “reference price”) for a particular procedure. For example, a plan with a reference-based pricing structure may pay $20,000 for a knee ...
Tom Breitenbach
Acknowledging our entrance into the 21st Century, the DOL recently announced proposed rules that would mandate electronic filing of the required statements to notify the DOL of the establishment of a new “top hat” plan. Under the current procedures put in place 40 years ago, the DOL estimates that it receives about 2,000 ...
The deadline for large health plans (receipts over $5 million) to obtain the new health plan identifier (HPID) is November 5, 2014. For insured health plans, the insurance carrier is responsible to obtain HPID, but for self-insured plans, that responsibility falls on the plan sponsor. But, until now employers have had a difficult ...
The Price is Right recently began its 42nd season of daytime television entertainment. Its decades-long run is a testament to what viewers crave in their mid-morning television – an audience full of energy and, of course, the chance to win a shiny new car. The eternal skeptics (including yours truly) who watch the show almost ...
The IRS recent issuance of Notice 2014-54 has gained accolades from various investment advisors as an easy way to convert after-tax salary contributions to a qualified plan to Roth amounts once they become distributable. Claims that this guidance provides an opportunity for a “tax free asset growth strategy” or a ...
Health care plan sponsors, we officially provide you our two weeks’ notice…of the due date for your Annual Medicare Part D Creditable Coverage Notification. By October 15 of each year (two weeks from today), employers whose health plans include prescription drug coverage must notify Medicare-eligible employees whether ...