Compliance Corner 12/17/14 Edition

 Capital Buildingcompliance corner

In this Issue:

IRS Publishes New Standard Mileage Rates for 2015

IRS Publishes 2015 Version of Publication 15-B, Employer’s Tax Guide to Fringe Benefits

IRS Releases Publication 4810 Explaining Electronic Filings for Form 8955-SSA


IRS Publishes New Standard Mileage Rates for 2015

On Dec. 10, 2014, the IRS released the 2015 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Specifically, the standard mileage rate for transportation or travel expenses is 57.5 cents per mile for all miles of business use, and the standard mileage rate is 14 cents per mile driven in service of charitable organizations.

December Lifestyle & Wellness Newsletter

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December Wellness Newsletter printable version!

Compliance Corner 12/8/14 Edition

Capital Building compliance corner

In this Issue:

OPM Issues Proposed Rule Regarding Multi-State Plan Program

CMS Issues Proposed Benefit and Payment Parameters for 2016

IRS Issues Final Regulations on Individual Mandate Exemption for Unaffordable Coverage

IRS Issues Notice Describing Certain Individual Mandate Hardship Exemptions

IRS Provides 2016 Indexing Adjustments Related to the Individual Mandate and Premium Tax Credits

IRS Issues Guidance Related to Transportation Benefits and Electronic Media

PBGC Releases Final Rules on the Treatment of Rollovers from Defined Contribution Plans to Defined Benefit Plans

Compliance Corner 11/21/14 Edition

Capital Building          compliance corner

In this Issue:

U.S. Supreme Court to Hear Case Challenging Premium Tax Credits Provided Through Federally Facilitated Exchanges

DOL FAQs Emphasize Prohibition on Premium Reimbursement Arrangement

IRS Clarifies Deductibility of Reinsurance Program Contributions for Insurers and Self-insured Plan Sponsers

IRS Clarifies Premium Tax Credit Eligibility for Pregnant Women

DOL Releases Interim Final Rule on Additional Reporting Requirements of Multiple-Employer Plans

DOL Issues Guidance on State Regulation of Stop-loss Insurance

Deadline Extended for 2014 Enrollment Counts for Transitional Reinsurance Program


Compliance Corner 11/4/14 Edition

Capital Building   In this Issue:

IRS: Plans Without Coverage for Hospital or Physician Services Do Not Meet Employer Mandate's Minimum Value Requirement

HPID Requirement Delayed Indefinitely

Online Enrollment in SHOP Marketplace Begins Nov. 15

CMS Provides Additional Reinsurance Contributions Guidance, Deadline Extended to Nov. 17

IRS Issues 2015 Pension Plan Limitations and Cost of Living Adjustments

 IRS Issues Guidance That Encourages Use of Annuities in 401(k) Plans

Compliance Corner 10/23/14 Edition

Capital Building In this issue:

Federal Agencies Issue Guidance Related to Reference-based Pricing

IRS Issues Information Letter Explaining Vanpooling as Tax-free Benefit

IRS Releases 401(k) Plan Checklist

November Compliance Requirements for Self-insured Plans



Health Care Reform

Federal Agencies Issue Guidance Related to Reference-based Pricing

CMS Issues FAQs Relating to Medicare and the Marketplace

On Aug. 1, 2014, CMS published a document containing several FAQs relating to the interaction of Medicare and marketplace coverage. The FAQs do not contain additional requirements for employers, but may be of general interest, particularly for employers with Medicare‑eligible employees and employers that are purchasing coverage through SHOPs.

IRS Regulations Address Health Insurance Premium Tax Credits, Cap Fines for Individuals

On July 24, 2014, the IRS released three separate revenue procedures, proposed regulations, and final and temporary regulations addressing a number of factors affecting premium tax credits available to individuals through the health insurance marketplace.

Within the guidance, the IRS finalized rules regarding the health insurance premium tax credit, effective July 28, 2014, and published in the Federal Register the same day. The guidance also included temporary regulations regarding reconciling the premium tax credit with advance credit payments. The IRS simultaneously issued proposed rules regarding the health insurance premium tax credit, which propose to incorporate both the final and temporary regulations within the section of the tax code (Section 36(b)) pertaining to the individual mandate and eligibility for premium tax credits.

PRESS RELEASE: Forest Capital Management Begins Operations


New SEC Registered Investment Advisor (RIA) to provide unique approach to retirement plans, participants, and individual wealth management clients.

Chicago, IL ‐‐ Forest Capital Management, LLC, (FCM) a newly formed SEC registered investment advisor (RIA), is pleased to announce the launch of its operations. The new firm will advise on retirement plan assets such as 401(k)’s, 403(b)’s, and pensions, as well as provide wealth management solutions for families and individuals.

Click here to review the full press release.

Reinsurance Contribution FAQ

Reinsurance Contribution FAQ Describes Process for Submitting Payment

On May 22, 2014, CMS released an FAQ providing details about the submission process for the collection of reinsurance contributions. The FAQ states that HHS will implement a streamlined process for the collection of reinsurance contributions.

As a reminder, contributing entities responsible for making reinsurance contributions include insurers, employers that sponsor self-insured plans and third-party administrators that pay contributions on behalf of self-insured plans. Self-insured plans that self-administer claims processing or adjudication are exempt from the reinsurance rate for 2015 and 2016. Such entities are required to provide basic company and contact information via a form available at no later than Nov. 15.