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Tag: 2012 Changes

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PROPOSED CHANGES TO CAFETERIA PREMIUM ONLY PLAN ELECTIONS & LOOK-BACK PERIOD

In September the IRS issued two notices regarding the Affordable Care Act.  Notice 2014-49 describes a proposed approach for applying the look-back measurement method used to determine full-time employee status for purposes of IRS Code § 4980H in situations when the measurement period applying to an employee changes. This change may occur because the employee…
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What Products are IRS Section 125 Eligible Expenses?

Often referred to as Cafeteria or IRS Section 125 a Premium Only Plan is an employee benefit plan that allows employees to select desired benefits from their employer’s benefit package, “cafeteria” style.  The real benefit of this type of plan is the tax favored treatment from the IRS if set up in accordance with Section…
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Prepare for 2012 Changes to Section 125 Premium Only Plans

Payroll companies need to help their clients prepare for some changes to Section 125 Premium Only Plans that will pave the way for the Affordable Care Act (ACA). While it is true that the ACA doesn’t come into full effect for another two years, there are some portions taking effect in 2012 and 2013. It…
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