Coming in May 2018, the EU will institute its landmark data privacy legislation, the General Data Protection Regulation (GDPR) - a piece of legislation that seeks to protect the personal data of EU citizens by regulating how organizations collect, store and process that data.
Unlike the Data Protection Directive adapted in 1995, which did no ... Read More
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On March 5, 2018, the IRS announced a reduction in the amount that an individual with family coverage under a high deductible health plan (“HDHP”) can contribute to a health savings account (“HSA”) for 2018. The lowering of the contribution limit, announced in Revenue Procedure 2018-18, is made to reflect statutory amendments included ... Read More
The Internal Revenue Service (IRS) has started issuing the first wave of Letters 226-J informing applicable large employers who did not comply with the ACA employer mandate for 2015 Plan Year that they may be liable for an Employer Shared Responsibility Payment (ESRP). Though receiving the letter is unnerving, there are certain steps you should ... Read More
Large employers with self-insured medical plans are required to provide to their full-time employees a Form 1095-C that describes the health insurance, if any, that the employer offers to the employees. The normal deadline for furnishing the Form 1095-C is January 31 following the end of the applicable year. The Form reminds employees that they ... Read More
The Tax Cuts and Jobs Act (the “Act”) recently enacted by Congress will soon become effective. The primary focus of the new law is the reduction of corporate and individual income taxes. Nevertheless, a number of provisions of the Act affect employee benefit programs, which are summarized below. Except as otherwise noted, these employee be ... Read More