IRS Updates Web Site - Health Care Tax Credit and American Recovery and Reinvestment Act

The IRS updated its Health Care Tax Credit (HCTC) web site (http://www.irs.gov/individuals/article/0,,id=109960,00.html) with information about the interaction of HCTC and The American Recovery and Reinvestment Act (ARRA).

ARRA temporarily changed benefits provided under HCTC. The changes to HCTC (including the new timeframes for extended COBRA benefits) will expire on December 31, 2010. They are only valid for the remainder of 2009 and 2010.

April 29, 2009 · Categories: COBRA · Read article »

Update - Caremark and IIAS

Caremark asked us to make our clients aware of a scenario in which IIAS will not apply. Caremark allows certain participants to purchase items and pay later. Essentially Caremark fulfills and ships their prescription but bills the participant at a later date. Due to the fact that these purchases are not paid for in real-time, Caremark does not feel that IIAS can apply in these cases. In order to manage these, Caremark has coded their systems to not accept benefit-related debit cards for these purchase types. Instead participants will be asked to present another form of payment. Therefore if a participant purchases a prescription and pays for it after they receive it, they will not be able to use their benefits debit card.

April 3, 2009 · Categories: General, HRA, FSA · Read article »

IRS Releases Definition of "Involuntary" Termination - ARRA Subsidy

The IRS released Notice 2009-27 that provides definitions of involuntary termination for purposes of determining who is an assistance eligible individual (AEI) and therefore eligible for the ARRA subsidy.

April 3, 2009 · Categories: COBRA · Read article »