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How to Sort Through the Complications of the Small Business Health Care Tax Credit
Excerpt: "Part of the complication in claiming the credit involves the three methods that employers are permitted to use for calculating employees' hours of service for the taxable year: (1) counting actual hours worked; (2) using a days-worked equivalency; or (3) using a weeks-worked equivalency. Counting hours of service is important in determining how many full-time equivalent employees a company has, and thus is important in determining whether the company is eligible for the credit."
Tax-Advantaged Accounts for Health Care Expenses: Side-by-Side Comparison (PDF)
11 pages. Excerpt: "This report provides brief summaries of the four [types of tax-advantaged] accounts and compares them with respect to eligibility, contribution limits, use of funds, and other characteristics for tax year 2010. The report then discusses changes to the accounts resulting from the enactment of the Patient Protection and Affordable Care Act . . . . The final section of the report covers participation levels in these accounts."
(U.S. Congressional Research Service)
Texas Insurance Commissioner Forbids Insurers' Provisions that Allowed Them to Interpret Policies
Excerpt: "Health, life and disability insurers will no longer have blanket authority to decide what their policies do and don't cover in Texas, under rules approved Monday . . . . The decision . . . ends long-standing provisions in most health and disability plans - called discretionary clauses - that give insurers the right to interpret their policies and decide what benefits must be paid."
(The Dallas Morning News)
Aflac Survey Highlights Demand for Dental Plans
Excerpt: "A recent Aflac survey of 1,000 working Americans suggests there will be increased opportunities for brokers and advisers to sell voluntary dental plans, particularly among those between the ages of 35 and 54 in a post-health care reform market."
(Employee Benefit News; one-time free registration required)
Health Care Reform, Reward Strategy and Workforce Planning (PDF)
7 pages. Excerpt: "In deciding whether to offer health care in 2014 and beyond, and who should be offered health care, employers with 50 or more employees need to take into account PPACA's 'pay or play' provisions. They will owe substantial penalty taxes if they do not offer health care coverage to their full-time employees, or do not offer coverage to substantial segments of their employee population at prices they can afford."
(Thomson Reuters via Hay Group)
The 2007-09 Recession and Health Insurance Coverage
Excerpt: "Loss of employment and declining incomes meant that five mil.lion Americans lost employment-based health insurance during the recent economic recession (2007-09). All groups of Americans were affected, but the growth in the number of uninsured people was particularly noticeable for whites, native-born citizens, and residents of the Midwest and South."
Health Savings Account Answer Book answers over 600 questions in a format that's quick and easy to use. It tells you virtually everything you have to know to profit from HSAs - from how they work, what they offer participants, and how they can benefit employers to helping you determine how well they will fit your company or clients. It answers key questions on all aspects of HSA establishment, administration, and compliance - including rules and penalties, medical coverage, contributions and deductions, distributions, rollovers and transfers, and more.
Benefits in General; Executive Compensation
IRS Expansion of Code § 409A Correction Guidance (PDF)
3 pages. Excerpt: "Notice 2010-80 also expands the eligibility for document correction relief under Notice 2010-6 to include stock options and stock appreciation rights that were intended at the time of grant (or upon a modification pursuant to applicable transition relief) to be subject to, and compliant with, Code § 409A."
(Sutherland Asbill & Brennan LLP)
IRS Expansion of Voluntary Correction Program for Section 409A Plan Document Errors
2 pages. Excerpt: "The IRS recently released Notice 2010-80, which expands the types of deferred compensation arrangements that are eligible for correction under the plan document correction program. The new guidance also limits the situations under which the service provider must submit information regarding the correction to the IRS."
Why Older Workers Offer Better Value Than Younger Ones
Excerpt: "[Older] workers bring a lifetime of skills to their jobs and can be highly motivated and productive members of the workplace, according to Wharton professors. Many of the stereotypes that prevent employers from hiring and making good use of older workers are merely myths, they say."
(Wharton School of the University of Pennsylvania)
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