While inflation remained low through 2016, certain key benefit plan limits have increased slightly for 2017. Last week the IRS officially announced those limit adjustments for various health, retirement and fringe benefit plans. General IRS information about these notices is available here for Health & Welfare plans and here for Retirement plans.
With ACA reporting looming on the horizon, many employers are focused on what’s new, but BPC wants to take a moment to review some older regulations that may be thrown into new light in 2016.
BPC has carefully monitored the regulations surrounding ACA reporting as they have developed over the past several years. This fall, the IRS finalized forms and instructions related to ACA reporting, and we want to take a moment to detail how your account-based health plans (HRAs, FSAs, and HSAs), and COBRA coverage, could impact your reporting obligations.