health and welfare

IRS Guidance on Information Reporting of Health Insurance Coverage

The Department of the Treasury has released a NPR entitled, “Information Reporting of Health Insurance Coverage and Other Issues Under Internal Revenue Code Sections (IRC Secs.) 5000A, 6055, and 6056”.

FuturePlan ERISA Team

Health and Welfare

IRS Guidance

IRS Posts 2022 Form 5498-SA for HSA, MSA Reporting

The IRS has posted at its website the 2022 tax year version of Form 5498-SA.

FuturePlan ERISA Team

Health and Welfare

Forms and Publications

Savings

Individual

2022 Amounts Released for Health and Welfare Benefits

The IRS has issued Revenue Procedure (Rev. Proc.) 2021-45, which contains cost-of-living adjustments for taxable years beginning in 2022 for over 60 tax provisions.

FuturePlan ERISA Team

Health and Welfare

IRS Guidance

IRS Releases Forms 1094-C, 1095-C

IRS Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, is used annually by an applicable large employer (ALE) to report health coverage offered to employees.

FuturePlan ERISA Team

Health and Welfare

IRS Provides COBRA Coverage Clarifications

The IRS has issued Notice 2021-58, which clarifies the application of extension under the “Joint Notification of Extensions of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak”.

FuturePlan ERISA Team

COVID-19

Health and Welfare

IRS Guidance

Guidance on Premium Assistance for COBRA Benefits

The IRS has issued Notice 2021-46, which provides additional guidance affecting the application of the American Rescue Plan Act of 2021 on COBRA continuation coverage.

FuturePlan ERISA Team

Health and Welfare

Several Health Savings Bills Proposed

Senator Ben Sasse (R-NE) recently introduced two bills aimed at providing more flexibility for the use of health savings accounts (HSAs).

FuturePlan ERISA Team

Health and Welfare

HSA

Legislative updates

Supreme Court Leaves Affordable Care Act In Place

On June 17, 2021, the United States Supreme Court held that the plaintiffs did not have standing to pursue an action under the Patient Protection and Affordable Care Act (PPACA).

FuturePlan ERISA Team

Health and Welfare

IRS Provides Additional COBRA Premium Subsidy Guidance

The IRS issued Notice 2021-31, which provides guidance affecting COBRA premium assistance pursuant to the American Rescue Plan Act of 2021 (ARPA). 

FuturePlan ERISA Team

IRS

Health and Welfare

IRS Provides 2022 Amounts for HSAs and HRAs

IRS Revenue Procedure (Rev. Proc.) 2021-25 provides the 2022 inflation-adjusted amounts for HSAs and the maximum amount that may be made newly available for expected benefit HRAs.

FuturePlan ERISA Team

Health and Welfare

HSA

IRS Guidance

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