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Archive for the “News Updates” Category

IMPORTANT DATE
January 2, 2018
The increased penalty amounts became effective.

OVERVIEW
On Jan. 2, 2018, the Department of Labor (DOL) issued a final rule that increases the civil penalty amounts that may be imposed on employers under various federal laws. The final rule increases the civil penalty amounts associated with:

Failing to …

IMPORTANT DATES
January 1, 2017
EEOC’s final wellness rules under ADA and GINA became effective.
January 1, 2019
District court’s ruling to vacate incentive limits under the EEOC’s final wellness rules takes effect.

On Dec. 20, 2017, the U.S. District Court for the District of Columbia vacated key provisions of the Equal Employment Opportunity …

IMPORTANT DATE
January 1, 2018
Most of the Act’s tax reform provisions became effective.

OVERVIEW
On Dec. 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (Act). The Act makes significant changes to the federal Internal Revenue Code (Code), including changes that impact employee benefits. Effective for 2018:

IMPORTANT DATES
March 2, 2018
Deadline for furnishing 2017 Forms 1095-B and 1095-C to individuals
February 28, 2018
Deadline for 2017 filing with the IRS in paper form
April 2, 2018
Deadline for 2017 filing with the IRS electronically

OVERVIEW
On Dec. 22, 2017, the Internal Revenue Service (IRS) issued Notice 2018-06 to:

IMPORTANT DATES
December 22, 2017
The tax reform bill was signed into law by President Donald Trump.
2019 Tax Year
Individual mandate penalties will be reduced to zero.
 

OVERVIEW
On Dec. 22, 2017, President Donald Trump signed into law the tax reform bill, called the Tax Cuts and Jobs Act, after it passed …

On Nov. 16, 2017, the U.S. House of Representatives passed a tax reform bill, called the Tax Cuts and Jobs Act. Then, on Dec. 2, the U.S. Senate passed its own tax reform bill, also called the Tax Cuts and Jobs Act. These tax reform bills differ in some ways, and will need to be …

CVS Health to Acquire Aetna; Combination to Provide Consumers with a Better Experience, Reduced Costs and Improved Access to Health Care Experts in Homes and Communities Across the Country
The following is an Aetna official press release published on December 3, 2017 at www.aetna.com. All rights reserved to Aetna Inc. 
WOONSOCKET, RI and HARTFORD, CT – CVS Health …

 
(Tampa, FL; November 21, 2017) – Sullivan is pleased to announce that effective today, it is naming Catherine Ratcliffe, current Chief Operating Officer, as Partner. Catherine has been with the employee benefits brokerage for over 16 years and has become a well known expert in the field.
“Catherine has worked with me from the …

HIGHLIGHTS

The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.
Many of these limits will increase for 2018.
In 2018, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts.

OVERVIEW
Many employee benefits are subject to annual dollar limits that are periodically …

IMPORTANT DATES
Oct. 19, 2017
The IRS announced the health FSA dollar limit for 2018.
Tax Years Beginning in 2018
The $2,650 dollar limit on employee salary reduction contributions to health FSAs applies for these years.

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending …

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