DOL Releases ARRA Model Notices 3-19-09

Information from http://www.dol.gov/ebsa/COBRAmodelnotice.html:

ARRA mandates that plans notify certain current and former participants and beneficiaries about the premium reduction.

The Department created model notices to help plans and individuals comply with these requirements. Each model notice is designed for a particular group of qualified beneficiaries and contains information to help satisfy ARRA's notice provisions.

March 19, 2009 · Categories: COBRA · Read article »

IRS Posts Q&A on How to Claim COBRA Subsidy Tax Credit (ARRA)

The IRS has posted on its website 14 new Q&As to help employers claim the payroll tax credit for COBRA premium assistance payments made pursuant to the American Recovery and Reinvestment Act of 2009 (ARRA). The employer may recover the subsidy provided to assistance-eligible individuals (AEIs) by taking the subsidy amount as a credit on its quarterly employment tax return. The employer may provide the subsidy and take the credit on its employment tax return only after it has received the 35 percent premium payment from the individual. The IRS web site address for this information is: www.irs.gov/newsroom/article/0,,id=204708,00.html.

March 13, 2009 · Categories: COBRA · Read article »

Medicare Secondary Payer Mandatory Reporting Requirements for Health Reimbursement Arrangements DELAYED

CMS announced last week (March 5, 2009) that it has delayed the reporting of HRA coverage information until the fourth quarter of 2010 (October - December 2010). CMS granted this extension to give Responsible Reporting Entities (RREs) time to gather the necessary information to report on HRA coverage. CMS has said it will provide further instructions on reporting HRA coverage at a later date.

March 13, 2009 · Categories: HRA · Read article »