CURRENT NEWS AND
REGULATORY UPDATES

Sept. 24, 2024 – This update cover two employee benefits compliance updates. The first update is a reminder regarding Medicare Part D disclosures due by Oct. 15, 2024, and the second update covers the prohibition of gag clauses under the CAA.

July 30, 2024 – On January 1, 2024, the Corporate Transparency Act (“CTA”) took effect and is estimated to impact over 30 million businesses.

June 24th, 2024 – For employers that have a medical plan with an HRA and/or are self or level-funded, 2023 PCORI fees are due July 21, 2024.

Nov. 3, 2023 – The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056.

Oct. 4, 2023 – This update cover two employee benefits compliance updates. The first update covers the prohibition of gag clauses under the CAA, and the second update explains the pay or play affordability percentage for 2024.

June 14, 2023 – For those that have a medical plan with an HRA and/or are self-funded, this is a reminder your 2022 PCORI fee is due July 31, 2023.

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024.

Feb. 8, 2023 – The Biden Administration has announced its plan to end the COVID-19 national emergency and public health emergency (PHE) on May 11, 2023.

Feb. 6, 2023 – Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with reporting deadlines in early 2023.

Dec. 13, 2022 – The Internal Revenue Service (IRS) has issued Notice 2022-59 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2022, and before Oct. 1, 2023.

On Oct. 11, 2022, the IRS released a final rule that changes the eligibility rules for the premium tax credit (PTC).

June 17, 2022 – The Transparency in Coverage Final Rules require group health plans and health insurance issuers to disclose on a public website detailed pricing information in three separate machine-readable files (MRFs).