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Below you will find a link to our legal alert on Notice 201963, which extends the deadline to provide 2019 Forms 1095B and 1095C to employees from January 31, 2020 to March 2, 2020. Note that the deadline for sending the forms to the IRS remains February 28, 2020 (March 31, 2020 if filed electronically). As in past years, the IRS has also extended transition relief for errors made in good faith.
Click here to read more about this important Legal Alert.
What Employers Need to Know About the New Transparency Rules
A Note from Danielle Capilla, Alera Group’s Director of Compliance, Employee Benefits
Employers who sponsor group health plans, whether fully insured or selffunded, should familiarize themselves with the requirements outlined in the proposed rule and watch for additional news on this topic. Currently, it is too soon to answer specific questions on how this rule might be implemented, or if it will even be finalized, but if it is finalized it has the potential to create new employer obligations.
Click here to read more about this important Legal Alert.
On November 6th, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which raises the health Flexible Spending Account (FSA) salary reduction contribution limit by $50 to $2,750 for plan years beginning in 2020. The Revenue Procedure also contains the cost-of-living adjustments that apply to dollar limitations in certain sections of the Internal Revenue Code.
Click here to read more about this important Legal Alert.