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IRS Extends Deadline for Employers to Furnish Forms 1095-C and 1095-B | New York Benefit Advisors

On December 22, 2017, the IRS released Notice 2018-06 to extend the due date for employers to furnish 2017 Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra 30 days to prepare and distribute the 2017 form to individuals. The due dates for filing forms with the … Continued

Preston Rutledge to be Nominated as Next EBSA Head | New York Benefit Advisors

President Trump has announced his intent to nominate Preston Rutledge as Assistant Secretary of Labor, Employee Benefits Security Administration (EBSA). The position as head of the EBSA has been vacant since Phyllis Borzi stepped down in January 2017. The White House announcement includes highlights of Mr. Rutledge’s career which clearly demonstrate his knowledge and experience … Continued

President Directs Federal Agencies to Consider ACA Changes | New York Benefit Advisors

On October 12, 2017, President Trump issued an Executive Order directing the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury to develop new rules to allow some exemptions from the Affordable Care Act (ACA). The Order indicates the Administration’s priorities although it has no immediate effect since any rule changes must first … Continued

IRS Releases Final 2017 ACA Reporting Forms and Instructions | New York Benefit Advisors

The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). Applicable large employers (ALEs) will use the following: 2017 Form 1094-C (transmittal to IRS). 2017 Form 1095-C (statement to individual). 2017 Instructions for Forms 1094-C and 1095-C (instructions). Employers that self-fund a minimum essential … Continued

Senate Fails to Pass Any Changes to the ACA | New York Benefit Advisors

In the early morning hours of July 28, 2017, the Senate’s leadership failed in its latest attempt to pass a bill—any bill—to repeal the Affordable Care Act (ACA). Capping off weeks of divergent proposals, and various procedural moves to avoid the normal committee process, the last measure was defeated 49 – 51. What happens now? … Continued

IRS Announces HSA Limits for 2018 | New York Benefit Advisors

On May 4, 2017, the Internal Revenue Service (IRS) released Revenue Procedure 2017-37 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2018. An HSA is a tax-exempt savings account employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered by a … Continued