1095-C Deadline Extended
The Internal Revenue Service (IRS) has released Notice 2019-63, which extends the deadline for furnishing 2019 Forms 1095-B and 1095-C to individuals from January 31, 2020 to March 2, 2020.  The Notice also provides penalty relief for good-faith reporting errors and suspends the requirement to issue Form 1095-B to individuals, under certain conditions. The due […]
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ACA Taxes Repealed!!!
On December 20th, the House and Senate passed a bipartisan legislative package of spending bills, followed by signature by the President, which includes a permanent repeal of three Affordable Care Act (ACA) taxes: Tax on high-cost health plans (the so-called “Cadillac Tax”), Health Insurance Tax (HIT tax), and Medical device tax The repeal of these […]
Read more
2020 HSA Contribution Limits
With the delivery of the IRS Revenue Ruling 2019-22, contributions toward health savings accounts (HSAs) for CY 2020 will increase for plan participants. Maximum HSA Contributions: Single:  $3,550 (up from $3,500 in 2019) Family:  $7,100 (up from $7,000) Minimum Deductible to qualify an HDHP as eligible for HSA Contributions (no changes from 2018): Single:  $1,400 […]
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LATEST NEWS

1095-C Deadline Extended

The Internal Revenue Service (IRS) has released Notice 2019-63, which extends the deadline for furnishing 2019 Forms 1095-B and 1095-C to individuals from January 31, 2020 to March 2, 2020.  The Notice also provides penalty relief for good-faith reporting errors and suspends the requirement to issue Form 1095-B to individuals, under certain conditions. The due […]

ACA Taxes Repealed!!!

On December 20th, the House and Senate passed a bipartisan legislative package of spending bills, followed by signature by the President, which includes a permanent repeal of three Affordable Care Act (ACA) taxes: Tax on high-cost health plans (the so-called “Cadillac Tax”), Health Insurance Tax (HIT tax), and Medical device tax The repeal of these […]

2020 HSA Contribution Limits

With the delivery of the IRS Revenue Ruling 2019-22, contributions toward health savings accounts (HSAs) for CY 2020 will increase for plan participants. Maximum HSA Contributions: Single:  $3,550 (up from $3,500 in 2019) Family:  $7,100 (up from $7,000) Minimum Deductible to qualify an HDHP as eligible for HSA Contributions (no changes from 2018): Single:  $1,400 […]

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