On January 4, 2015, Illinois Governor Pat Quinn signed into law the Illinois Secure Choice Savings Program Act, which will require private sector employers to make automatic payroll deductions, and place the deductions into a state-run savings plan for the benefit of employees.
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Employee Benefits
ACA UPDATE: IRS Issues Draft Forms And Instructions For Employer Coverage Reporting
The IRS recently issued draft versions of the new Forms 1094-B, 1094-C, 1095-B and 1095-C (the “Forms”) along with related draft Instructions.
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ACA Update: Self-Insured Health Plans Required To Obtain Health Plan Identifier
The Affordable Care Act required the Department of Health and Human Services (HHS) to establish a national health plan identifier (HPID) program under the HIPAA standard transactions rules. The resulting HHS rules generally require all HIPAA-covered entities, including self-insured plans with more than $5 million in annual claims, to obtain a HPID by November 5, 2014. Small self-insured health plans (i.e., those with annual claims of $5 million or less) will be required to obtain a HPID by November 5, 2015.
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New Commuter Benefits Requirement for San Francisco Bay Area Employers
Starting September 30, 2014, many employers in the greater San Francisco Bay Area will be required to provide commuter benefits to their employees as part of the “Bay Area Commuter Benefits Program.”…
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Final ACA 90-Day Waiting Period Rule on Use of Orientation Periods
On June 25, the government issued final rules regarding the use of “bona fide employment-based orientation periods” in connection with the Affordable Care Act’s 90 day waiting period limits. These final rules largely track the proposed rules issued in February.
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CGL Insurer Must Defend Alleged ERISA Violations Where Factual Allegations Create a Possibility of Coverage
In Euchner-USA, Inc. v. Hartford Cas. Ins. Co., No. 13-2021-cv, 2014 U.S. App. LEXIS 10797 (2d Cir. June 10, 2014), the United States Court of Appeals for the Second Circuit found that an insurer must defend its insured in a case alleging ERISA violations because the facts alleged (as opposed to the embedded legal…
Health Care Reform – Updated Employer Compliance Timeline and Checklist
The government has continued to issue a number of regulations and other guidance on the Patient Protection and Affordable Care Act (PPACA) and related health care laws, including the following:…
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IRS Eases Verification Process For Qualified Plan Rollovers
On April 3, 2014, the Internal Revenue Service issued guidance (Revenue Ruling 2014 9) that should make it much easier for qualified plans (including section 403(b) plans) to accept direct rollover contributions from other qualified plans and IRAs.
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Final Rules On Employer Coverage Mandate and 90-Day Waiting Period Requirements
IRS final regulations issued earlier this year provide guidance on compliance with the employer coverage mandate under the Affordable Care Act (ACA), including determining full-time status and offering coverage with minimum value. In addition, the government has also issued final and proposed regulations regarding 90-day waiting periods under the ACA.
While both sets of final…
IRS Guidance Issued On The Effect of The Windsor Decision On Retirement Plans
Plan sponsors now have additional answers to some of their questions about the effect of the Windsor decision on retirement plans. Notice 2014-19, released on April 4, 2014, provides guidance concerning the application (including retroactive application) of Revenue Ruling 2013-17 and the June 26, 2013, Supreme Court decision that invalidated Section 3 of the Defense of Marriage Act (DOMA).
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