Blog
The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
401(k) Adoption Date Extended for Defined Contribution Pre-approved Plans
The IRS has extended the deadline from Sunday, April 30, 2017, to Monday, May 1, 2017, for certain employers to adopt defined contribution pre-approved plans and apply for a determination letter. Further details are available on the IRS website.
H&W: IRS Releases Publication 502 and Publication 503 for 2016 Tax Returns
The IRS released Publication 502 and Publication 503 for use in preparing 2016 tax returns. Publication 502 includes medical expenses that are deductible on a taxpayer’s 2016 return and Publication 503 covers the requirements necessary to claim the dependent care tax credit.
H&W Section 1557 Reminder
Section 1557 is the nondiscrimination provision of the Affordable Care Act (ACA). Here’s a summary: Applies To: Health benefits of certain employers that receive federal financial assistance and are principally engaged in health care (such as hospitals and nursing homes).
H&W 2018 Cost-sharing Limits
The Department of Health and Human Services released finalized regulations establishing cost-sharing limits on annual out-of-pocket maximums for 2018. The regulations set the 2018 out-of-pocket maximum limit for self-only coverage at $7,350 and for family [more than 1 covered individual] coverage