The IRS recently issued Notice 2014-55
The IRS recently issued Notice 2014-55 which expands the permitted election rules for health coverage under a Section 125 cafeteria plan. In this notice there are two specific situations that are addressed allowing a cafeteria plan participant to revoke their election during a period of coverage. In order to allow the new permitted election changes under this notice, cafeteria plans must be amended to allow for such changed. <br><br> A participating employee whose hours of service are reduced so that they are expected to average less than 30 hours of service per week, but the reduction of hours does not affect the employees eligibility for coverage under the group health plan.<br />An employee participating in the employer's group health plan who would like to cease coverage and purchase coverage through an Exchange or Marketplace program.
Click Here To find out moreEverybody in the employee benefits field uses acronyms like ALE, MLR, and ACA, but what do these and other employee benefits acronyms stand for?
04/14/2023
Everybody in the employee benefits field uses acronyms like ADA, MSP, and PHI, but what do these and other employee benefits acronyms stand for?
04/14/2023
Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA, but what do they stand for?
04/14/2023
The IRS has issued FAQs that explain when certain costs related to nutrition, wellness, and general health are medical expenses under Code § 213.
04/14/2023
A new wrinkle recently added a potential complication to calculating these deadlines.
04/14/2023