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June 11, 2012
Voluntary 403(b) Plans: A Cautionary Note
The DOL has issued an Opinion Letter (DOL Advisory Opinion Letter 2012-02A) relating to 403(b) plans, and when they are deemed to be voluntary and excepted from ERISA.
May 27, 2012
The Vodafone Case and Its Effects on Indian Taxation (article)
Do Not Fall into S Corporation Tax Traps (article)
May 24, 2012
An Early Look at COSO’s Updated Internal Control-Integrated Framework to be Released in Early 2013 (article)
States Nationwide Seek to Limit Nonprofit CEO Pay (article)
May 17, 2012
HRB 50 - ACA Updates 5-17-12
May 14, 2012
Updated Medicaid/CHIP Premium Assistance Notice Issued
Individuals who are eligible for employer-sponsored group health coverage, but are unable to afford the premium, may be eligible to receive premium assistance from a state’s Medicaid agency or CHIP program. Employers are required to provide premium assistance information to their employees. This can be accomplished by using a model notice provided by the Department of Labor.
Health Savings Accounts: 2013 Cost of Living Adjustments
In Rev Proc 2012-26, the IRS released the 2013 cost of living adjustments (COLA) for health savings accounts. The HDHP minimum deductibles, out-of pocket limits, and the statutory HSA contribution amounts, have increased slightly. The $1,000 catch up contribution available to accountholders aged 55 and over is not subject to a cost of living adjustment and thus, remains at $1,000.
Medicare Part D: 2013 Benefit Limits
The Centers for Medicare and Medicaid Services have released the 2013 cost of living adjustments for Medicare Part D prescription drug benefits. The following are selected modified limits relating to the standard drug benefit and the retiree drug subsidy.
Mental Health Parity: A Compliance Reminder
Perhaps in honor of May being officially recognized as “Mental Health Month”, the DOL’s Employee Security Benefit Administration (EBSA) has issued several pieces of guidance relating to the mental health parity laws, specifically, the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). EBSA has posted relevant MHPAEA regulations, Fact Sheets, FAQs, interactive compliance tools, and other pertinent information on its dedicated Mental Health Parity website. Of particular note are two sets of implementation FAQs. One set of FAQs addresses non-quantitative treatment limitations, such as medical management standards and other questions relating to plan design issues, such as prior authorization requirements. The other set of implementation FAQs discuss the law’s oversight, carve-out arrangements, interaction with state-mandated mental health benefits, plans exempt from the law, and consumer hot-line information for reporting suspected violations.