Current HBS Legislative Updates

Employee Benefits Newsletter | HR Benefit Plan

2014 Life Insurance Imputed Income Notification and Calculator

June 12, 2014

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Play or Pay Postponed for Some

February 11, 2014

On Monday, February 10, 2014, the U.S. Treasury Department and IRS announced final regulations for the ACA Employer Shared Responsibility containing some very important compliance changes and clarification, including:

•   Employers with 50 to 99 full-time or full-time equivalent employees will have until 2016 to offer coverage to their full-time employees or pay an employer penalty, if they certify they are not cutting positions to avoid the mandate.

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Anthem and Sutter reach accord. No disruption of services

December 16, 2013


 Anthem Blue Cross is pleased to announce that we have successfully renewed our Agreement with the Sutter Health System. The fully executed multi-year contract is effective January 1, 2014. 


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IRS Allows FSAs Carryover; 401k Limits for 2014 Announced

November 1, 2013

The IRS announced that Health FSAs can have up to a $500 carryover of unused amounts to the next plan year. This creates an exception to the long-established “Use-or-Lose Rule.”

The IRS provided a one-page fact sheet on this major change to a rule that had been in place for more than three decades. This is likely to increase Health FSA participation and election amounts and should reduce so-called “New Year’s Eve spending spree” activity for calendar-year plans.

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Medicare Part D Notices to be distributed by October 15th

October 7, 2013


You are now required to notify the CMS every year that your prescription drug coverage for 2013 was either Creditable or Not Creditable for the purposes of Medicare Part-D anytime between February 15, 2013 and November 15,   2013.  For compliance purposes, please mail a hard copy of the Notice to each one of your employees at their home address. It may be sent electronically, if the beneficiary has consented to this process and hard copies of the notice must be available upon request. 

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