Welfare Benefit Plan ERISA News
March 2017

IRS Revises Enforcement Policy on ACA Individual Mandate Compliance

The IRS has announced that it will not reject 2016 tax returns that do not provide information on whether the individual taxpayer and his family members had qualifying health coverage for 2016. The IRS uses this information to enforce compliance with the Affordable Care Act's ("ACA's") individual mandate provisions. This enforcement policy change comes in the wake of President Trump's Executive Order directing federal agencies to minimize the ACA's financial impact on individuals.
(Wagner Law Group)

Opioid Addiction: Implications for Employers
"Employers can contribute toward curbing the opioid addiction epidemic in a number of ways and should play an instrumental role in facilitating increased awareness of and access to needed programming.... This article will explore the size and prevalence of the opioid epidemic, reflect on its implications for employers -- including public policy initiatives -- and suggest specific strategies for employer interventions." Benefits Quarterly, published by the International Society of Certified Employee Benefit Specialists (ISCEBS)

Five Important Things to Remember for the Forms 1094-C and 1095-C Filing

"Despite the President, the Executive Order, what your friend said, etc. ALEs still must complete forms ... [2] Deadlines: Employee statements (March 2, 2017) then statements to IRS (March 31, 2017 if filed electronically) ... [3] Each ALE member must file its own Form 1094-C ... [4] All 12 months on line 14 must be completed with a code ... Part III of the Form 1095-C must be completed if an employer sponsors a self-insured plan." (Accord Systems, LLC)

The next 401(k)? Why Student Loan Repayment
May Soon Be a Standard Benefit

"The average tenure of Millennials is around 16 months, and the bulk of these workers are saddled with a tremendous amount of student loan debt ($30,000 on average). That revolving door mentality among younger workers hurts employers' retention rates and costs a fortune in extra recruiting and training costs. Plus, because student loan debt makes contributing to a 401(k) a low priority, employers' 401(k) participation rates suffer as well." (HR Benefits Alert)
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© 2017 ERISAPros, LLC, All rights reserved. Information on ERISAPros' website, its newsletter, “News & Views,” and its blog, “ERISA Wonk,” is published as a general informational source. Information and articles are general in nature and are not intended to constitute legal or tax advice in any particular matter. Blog posts and comments reflect the personal views of their respective authors - not those of ERISAPros. Transmission of this information does not create an attorney-client relationship. ERISAPros, LLC is not a law firm and is not giving legal or tax advice. It does not warrant and is not responsible for errors or omissions in the content on its website or in its newsletters. ERISA is a complicated and confusing law. Summary Plan Descriptions (SPDs), Wrap Plan Documents, and Form 5500s require review and updating by qualified ERISA compliance professionals.


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