“Defined Benefit” and “Defined Contribution” are terms that have historically been used in conjunction with retirement plans.  Defined benefit retirement plans afford employees with a pre-defined monthly benefit at retirement; however the employer assumes the market risk in meeting the obligation to the employee.  History of Defined Contribution Retirement Plans Defined benefit retirement plans became [...]

In 2012 Accountable Care Organizations (ACO) were established due to the Patient Protection and Accountable Care Act (ACA) being signed by President Obama.  Medicare and Medicaid Services (CMS) are to create Medicare Shared Savings program (MSSP), which allows for the establishment of ACO contracts with Medicare. An ACO is a network of doctors and hospitals [...]

The Tax Anti-Injunction Act, enacted in 1867, prohibits a law suit from being brought to bear against any tax prior to a prospective plaintiff having incurred said tax. So why is a 145 year old law potentially so important today? Simple the upcoming U.S. Supreme Court case, U.S. Department of Health and Human Services v. [...]

Facing growing criticism President Obama announced on Friday, February 10th an amended policy on the birth control mandate. Under the new announced policy, religious employers (and affiliated institutions) will not be required to offer contraception and will not have to refer their employees to places that provide it. Instead, the employer’s insurance company must provide birth [...]

On February 9, 2012 the Departments of Labor, Treasury and Health & Human Services released the final regulations under Affordable Care Act (ACA) that require health insurers and group health plans to provide information about health plan benefits and coverage to those with private health coverage. According to regulators these rules will ensure consumers have [...]

On Wednesday evening members of the House voted 267-159 to repeal the Community Living Assistance Services and Supports (CLASS) program. 28 Democrats joined Republicans in support of repealing the voluntary long-term healthcare program established in the 2010 health reform law. The CLASS Act establishes a national, voluntary long-term care program. The program was to go [...]

Friday, January 20th, 2012 HHS Secretary Kathleen Sebelius announced that church-affiliated institutions will only get one additional year to meet a new rule to cover birth control free of charge. In the announcement HHS was quick to indicated that it did not apply to houses of worship such as churches, synagogues, mosques and other places [...]

The House Ways and Means Committee has voted to repeal PPACA’s controversial CLASS Act 24-14,  setting up a full vote of the House in February. The CLASS Act (Community Living Assistance Services and Supports Act) establishes a national, voluntary long-term care program. The program was expected to go into effect during 2012; however, in October [...]

Beginning January 1, 2013, the Patient Protection and Affordable Care Act will limit salary reduction contributions under a health care flexible spending account (FSA) during the taxable year to a maximum of $2,500. This new requirement applies to all health care FSA plans whose taxable years begin after December 31, 2012, even plans grandfathered under [...]

The IRS has issued Notice 2012-9 to provide additional guidance on informational reporting of employer-sponored health coverage on Form W-2. This notice restates and amends the interim guidance on information reporting to employees initially provided in Notice 2011-28, 2011-16 I.R.B. 656. This informational reporting is required under § 6051(a)(14) of the Internal Revenue Code (Code), enacted [...]