Health & Welfare Plans Newsletter

October 6, 2016

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Employee Benefits Jobs

401(k) Retirement Plan Administrator
Nicholas Pension Consultants
in CA

Sr Manager, Legislative and Regulatory Strategy
T. Rowe Price
in MD

Implementation Consultant
T. Rowe Price
in CO

Lead Manager, Retirement Plan Services
T. Rowe Price
in MD

Client Account Manager
T. Rowe Price
in MD

Senior Plan Compliance Consultant
T. Rowe Price
in CO

Specialist, Plan Implementation
Nationwide
in OH

Qualified Plan Administrator
The Plexus Groupe, LLC.
in IL

Senior Pension Administrator
Scholz & Friends Enlightened Retirement Group, Inc.
in TX

Qualified Retirement Plan Administrator
Compensation Planning Inc.
in RI

Retirement Services Analyst
TriNet
in CT

Pension Plan Administrator
DeMars Pension Consulting Services, Inc.
in KS, MO

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[Official Guidance]

Text of 2016 IRS Form 8962: Premium Tax Credit (PDF)
"Information about Form 8962 and its separate instructions is at www.irs.gov/form8962."
Internal Revenue Service [IRS]

[Advert.]

Institute for Apprenticeship, Training and Education Programs

Sponsored by International Foundation of Employee Benefit Plans [IFEBP]

This premier conference will help create an effective apprenticeship program. Learn best practices for trust fund management. Register today to discuss a variety of topics from recruitment and retention to adult learning and fiduciary responsibility.


[Guidance Overview]

2016 IRS Forms 1094-C and 1095-C: What to Do Now
"There are many notable differences from the first year's forms in 2015 that employers will need to prepare for now. First and foremost, employers should note that all of the extended deadlines in 2016 for which to file the 2015 forms are gone. Employers will have significantly less time to prepare, distribute, and file the 1094-C and 1095-Cs for 2016[.]"
Kushner & Company

[Guidance Overview]

ACA Section 1557 Non-Discrimination Compliance Notice
"If you are a covered entity ... you must [1] post a non-discrimination notice i... [2] take 'reasonable steps to provide meaningful access' to individuals with limited English proficiency; [3] if you have 15 or more employees, identify a [an] employee that will bear responsibility for your Section 1557 compliance and that will also investigate any alleged discrimination ... and [4] if you have 15 or more employees, adopt grievance procedures for responding to any Section 1557 complaints."
Sirote & Permutt PC

Have We Forgotten What a Grandfathered ACA Plan Is?
"Generally, grandfathered plans are able to maintain existing coverage and don't have to amend their plans to comply with certain ACA regulations ... A plan loses its grandfathered status when any of the following changes become effective: [1] elimination of all or substantially all benefits for certain conditions; [2] increase in percentage cost-sharing requirement; [3] increase in a fixed-amount cost-sharing requirement, other than a copayment ... [4] increase in a fixed-amount copayment; [5] decrease in employers' or employee organizations' contribution rate; or [6] change in annual limits."
Bloomberg BNA

The Unintended Consequences of High Deductible Health Plans
"Notwithstanding the hope that HDHPs and HSAs would lower overall medical expenditures within the healthcare system ... a recent study ... revealed that enrollees in HDHPs were responsible for 24% of their medical costs between 2010 and 2014, compared to 14% in traditional plans. Further, while enrollees in traditional plans made over twice as many doctor visits as HDHP/HSA enrollees for non-preventive care, the study found that enrollees in high-deductible plans spent an average of $1030 in annual out-of-pocket costs, whereas enrollees in traditional plans spent an average of $687."
Sheppard Mullin

[Advert.]

Now is a great time to join Worldwide Employee Benefits Network (WEB)

Sponsored by WEB - Worldwide Employee Benefits Network

WEB members represent more than 25 professions and 30 areas of expertise within the pension and benefits industry-including administrators, consultants, attorneys, accountants, investment managers, communications experts and benefits managers. Join today.


Paid Leave Practices Could Be Reinforcing Gender Roles in the Workplace
"Mothers on average are given 41 paid days of maternity leave, compared with 22 paid days of paternity leave for fathers. The average amount of paid adoption leave and paid surrogacy leave was 31 and 36 days, respectively. Not surprisingly, very few parents left any parental leave unused."
Society for Human Resource Management [SHRM]

Benefits in General

[Guidance Overview]

Form 5500 Updates and Increased ERISA Penalties
"The proposed changes would also add more detailed reporting of amounts paid for salaries, audit fees, recordkeeping fees, trustee and custodial fees, actuarial fees, legal fees, valuation fees, and trustee expenses, including travel and meetings.... The proposed changes ... would require all ERISA-covered plans that provide group health benefits to file Form 5500, regardless of size and even if the plan is fully insured or unfunded."
Frost Brown Todd LLC

Court Finds Employee Benefit Trust Fund's Trustee, Legal Counsel Liable for Retaliating Against ERISA Whistleblower
"[T]he employee complained to DOL about the trustee's interference with her efforts to collect delinquent contributions from contractors who were required to contribute to the fund. After learning of the employee's contact with DOL, the trustee, on the advice of the fund's legal counsel, suspended the employee from her employment with the trust and, less than six months later, fired the employee.... [T]he court concluded that the employee's suspension and termination were a direct result of her communication with the DOL." [Perez v. Brain, No. 14-03911, (C.D. Cal. July 25, 2016)]
The Wagner Law Group

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BenefitsLink Health & Welfare Plans Newsletter, ISSN no. 1536-9595. Copyright 2016 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright or other notice from copies of the content.

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