Bulletins

IRS announces relief for 2018 HSA family contributions

The IRS announced on Thursday, April 26, that it’s modifying the annual limitation on 2018 HSA family contributions. Under Rev. Proc. 2018-27, taxpayers will be allowed to treat $6,900 as the annual limitation for 2018, as opposed to the $6,850 limitation announced earlier this year.

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New labor law posters and forms

At the start of each year it’s a good practice to verify that you’re using the most current state and federal labor law posters and IRS employment-related forms. Employers should display posters in a conspicuous location on the employer’s premises.

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EEO-1 Report deadline March 31

The EEO-1 Report is required to be filed with the U.S. Equal Employment Opportunity Commission (EEOC) each year for employers with 100 or more employees. The report requires employers to provide employment data by race/ethnicity, gender and job categories. Traditionally the annual reporting...

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FIDUCIARY RULE AT STANDSTILL

In a 2-to-1 decision, the 5th Circuit Court of Appeals reversed a lower court 2016 decision that upheld the Department of Labor’s (DOLs) fiduciary rule. The rule extended the fiduciary definition defined in the Employee Retirement Income Security Act (ERISA) that applies to the retirement plan...

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KCMO PASSES BAN-THE-BOX ORDINANCE

Earlier this year, the Kansas City, Mo., City Council passed an ordinance restricting an employer’s ability to ask about and use a job applicant’s criminal record information. The ordinance becomes effective on June 9, 2018. The ordinance applies to private employers with six or more employees...

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IRS LOWERS 2018 HSA FAMILY CONTRIBUTIONS BY $50

The 2018 health savings account (HSA) contribution, allowed for those enrolled in a high-deductible health plan (HDHP) other than self-only coverage, was lowered to $6,850 from $6,900. The change was announced in the IRS Internal Revenue Bulletin No. 2018-10. There was no change to the $3,450...

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IRS INCREASES 2018 PENALTIES FOR NONCOMPLIANCE

The employer shared responsibility penalties (ESRPs) for 2018 are $2,320 and $3,480 per employee. The $2,320 penalty is applied should an applicable large employer (with 50 or more full-time-equivalent employees) not provide minimum essential coverage to at least 95% of benefit-eligible,...

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Large Employers Must Enter Health Care Value on Form W-2

The aggregate cost of employer-sponsored health insurance must be reported on 2017 Form W-2s for employers who issued 250-plus Form W-2s in 2016. The reporting requirement is a provision established by the Affordable Care Act. Small employers (those who issued fewer than 250 Form W-2s in 2016)...

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IRS notifies employers of ACA penalties

 

The IRS has begun notifying employers suspected of owing an employer shared responsibility penalty for the 2015 calendar year. The notification letter describes how the penalty is assessed and includes Form 14764 to make payment or dispute the penalty, as well as Form 14765 that lists...

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Blue KC releases 2018 Prescription Drug List adjustments

 

Blue Cross and Blue Shield of Kansas City (Blue KC) will adjust its Prescription Drug List effective January 1, 2018, for Blue-Care® (HMO), BlueSelect Plus (PPO), Preferred-Care® (PPO), and Preferred-Care Blue® (PPO) plans. Group-specific benefit exceptions may apply.

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