212-695-7495 info@camlife.com

News & Thought Leadership

ACA: 2017 Cost of Living Adjustments

On October 25 and 27, 2016, the IRS released cost of living adjustments for 2017 under various provisions of the Internal Revenue Code (the Code). Some of these adjustments may affect your employee benefit plans. Cafeteria Plans For plan years beginning in 2017, the dollar limitation under Section 125 for voluntary employee salary reductions for…

Read the full article »

Final 2016 Forms Available

The Internal Revenue Service (“IRS”) recently released final versions of the 2016 Forms 1094-C and 1095-C and associated instructions. These forms will be used in early 2017 by Applicable Large Employers (“ALEs”) to report whether the ALE offered (or did not offer) a full-time employee (“FTE”) health insurance coverage during the calendar year. Additionally, for…

Read the full article »

Affordability affected by Opt-Out Bonuses

On July 8, 2016, the Internal Revenue Service (IRS) issued proposed regulations that, among other things, address affordability determinations for individuals who are eligible for employer-sponsored health coverage. This proposed rule builds on earlier guidance, Notice 2015-87, describing the effect an opt-out payment has on affordability. This latest guidance likely signals the direction the IRS…

Read the full article »

IRS: Information Returns Can Still Be Filed After Deadline

The IRS just announced that although the deadline to electronically file ACA information returns (Form 1094-C with related Forms 1095-C) with the IRS is midnight ET on June 30, 2016, the ACA Information Returns (AIR) system will remain up and running after the deadline. If an employer is not able to submit all required ACA information returns by June 30, 2016, the IRS has indicated that the employer should complete the filing after the deadline.

Read the full article »

Final SBC Template and Related Materials Issued

On April 6, 2016, the Departments of Labor (“DOL”), the Internal Revenue Service (“IRS”), and Health and Human Services (“HHS”) (collectively, “the Departments”) announced the final version of the new Summary of Benefits and Coverage (“SBC”) template and associated documents.

Read the full article »