Category Archives: Uncategorized

IRS Raises FSA Limits, Other Benefits for 2018

By | Fringe Benefit, Government Contractors, Healthcare and Welfare, Hour & Wage, IRS, Uncategorized, Wellness Incentive | No Comments
The IRS just released the 2018 Cost-of-Living Adjustments (COLAs) for a variety of tax-related limits. The changes, as outlined in Revenue Procedure 2017-58, featured several notable adjustments employers should be aware of: Employees will be able to contribute up to $2,650 to a health flexible spending account (FSA), a $50 increase from 2 ... Read More

Guidance For Employer Shared Responsibility Payments Announced

By | ACA, Affordable Care Act, Compliance, Government Contact, Government Contractors, IRS, Play or Pay, PPACA, Uncategorized | No Comments
The IRS has announced new guidance regarding the Employer Shared Responsibility Payments (the "ESRPs"), which are the ACA penalties assessable to “Applicable Large Employers” for failing to provide affordable health care coverage to eligible full-time employees. Although the IRS began collecting information from employers (via the Form 1 ... Read More

DOL Introduces Dual Fringe Rates for SCA

By | Uncategorized | No Comments
As we previously reported last week, the Department of Labor announced an increase in the prevailing health and welfare fringe benefits rate under the Service Contract Act. The increase, $4.41 per hour from $4.27, is effective August 1, 2017. A significant item of note in this year's All Agency Memorandum 225 (AAM 225) is the introduction of a ... Read More

Tax Treatment of Voluntary Fixed Indemnity Health Benefits

By | Benefits Administration, Government Contractors, IRS, Uncategorized | No Comments
Last week, the IRS's Office of Chief Counsel released a Memorandum announcing that benefits paid under a fixed indemnity health benefit program that is either funded by the employer, or funded by employees through contributions made on a pre-tax basis, are included in the employee’s gross income as taxable wages. This would require the employer ... Read More