HRAs for Small Employers without Group Health Coverage

The 21st Century Cures Act, which was enacted on December 13th of this past year, includes provisions that permit small employers without group health coverage to reimburse employees for qualified health care expenses and individual health insurance premiums.  Small employers that want to provide tax favored reimbursements will be required to set up a “qualified … Continued

Fixed-Indemnity Benefits May be Taxable

By Shari Herrle, Director of Compliance A Chief Counsel Advice (CCA) memorandum issued by the IRS in January concludes that benefits provided under a Fixed Indemnity Plan may not be excluded from an employee’s gross income if premiums were pre-taxed through a Section 125 Cafeteria Plan or the premiums were paid by the employer.  Many … Continued

IRS Proposed Changes to Definition of Tax Dependent

The Internal Revenue Service has issued proposed regulations that will redefine “dependent”.    The changes update existing regulations so that they reflect the IRS’s current position on the “tiebreaker” rules, Qualifying Child and Qualifying Relative.   The revised definition of dependent has implications on employee benefit plans as the federal definition of dependent determines whether a household … Continued

HHS Releases New Benefit Parameters

Health and Human Services (HHS) released its 2018 health benefit and payment parameters.  Employer plan sponsors planning for 2018 will want to take note of the new Annual Cost Sharing Limits for group health plan coverage: Health Plan Annual Cost-Sharing Limits: Limits 2017 2018 Individual Coverage $7,150 $7,350 Family Coverage $14,300 $14,700   We anticipate … Continued

DOL Announces Adjustments to Employee Benefit Plan Penalties

In January of this year the DOL issued its first annual adjustment of civil penalties for several benefit-related violations. The new penalties are effective for penalties assessed after January 13, 2017 for violations occurring after November 2, 2015.  We have included a chart below that summarizes the changes. If you have any questions regarding the … Continued

2017 Publication 15-B – Employers Guide to Fringe Benefits

For each new calendar year the IRS releases an updated Publication 15-B (Employers Tax Guide to Fringe Benefits) which provides important information many employers rely upon to determine the tax treatment of various fringe benefits, including accident and health coverage, Health Savings Accounts, transportation benefits, etc.  The 2017 publication has some noteworthy changes and clarity … Continued

New Policy Brief – The House GOP Leadership ACA Repeal and Replace Plan

On February 16, 2017, House Speaker Paul Ryan presented a new Policy Brief that contains many of the key reform elements House Republicans believe are essential to repeal and replace the ACA and overhaul the Medicaid system.  The plan includes provisions to modernize Medicaid, utilize State Innovation Grants, enhance Health Savings Accounts (HSAs) and provide … Continued

Craig Yochum hired as an Associate

  As an Associate of HB Retirement, Yochum will utilize his customer service skills to answer questions posed by plan participants. He earned his bachelor’s degree in Economics from The Ohio State University. Yochum is originally from Pittsburgh.

Meredith Felton hired as an Individual Enrollment Specialist

Meredith Felton has joined Henderson Brothers, Inc. as a Medicare & Individual Enrollment Specialist in Employee Benefits. Felton will use her two years of industry experience to assist with attracting and retaining individual benefits clients. She earned her bachelor’s degree from the University of Cincinnati. Felton is originally from Bellbrook, Ohio.

Jeremy Taggart hired as Financial Analyst

Jeremy Taggart has joined Henderson Brothers, Inc. as a Financial Analyst in the Employee Benefits department. Taggart will use his three years of industry experience to help clients better understand their current and future employee benefits programs. He earned his bachelor’s degree in both Actuarial Science and Applied Mathematics from Robert Morris University. Taggart is … Continued