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Recent Guidance Affecting Health Plans and Insurance Coverage

Fulcrum Partners. Human Resources

Fulcrum Partners would like to share this important update from our friends at IslerDare PC, regarding guidance from the Internal Revenue Service (IRS) on Health Savings Accounts limits, delays to the so-called “Cadillac” tax, proposed Department of Labor rules, and other timely issues that could impact health plans and insurance coverage for you and your company.

The following content, published March 30, 2018, is shared with permission of IslerDare PC.
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Employee Benefits Summary

Executive Summary

This year is already shaping up to be an interesting year for employer-sponsored health and welfare plans, and for individual health insurance coverage. Highlights include:

  • The Internal Revenue Service (“IRS”) issued guidance that reduced the Health Savings Account (“HSA”) limits for family coverage for 2018 by $50, from $6,900 to $6,850.
  • In response to recent state law requirements to provide male sterilization and male contraceptive benefits without cost-sharing, the IRS issued guidance providing transition relief for high-deductible health plans (“HDHPs”) for periods before 2020.
  • Congress has again delayed the “Cadillac” tax, this time until 2022.
  • The Departments of Treasury, Labor, and Health and Human Services have issued a proposed rule that increases the length of time for which individuals can purchase short-term, limited-duration health insurance, to a maximum period of 12 months.
  • The Department of Labor (“DOL”) has proposed a rule that would relax the requirements for employer groups or associations to combine and form association health plans (“AHPs”) and offer employee benefits to employees.

What You Should Do

  • Communicate with any employees who have elected to contribute, or have already contributed, more than the reduced family coverage amount to an HSA for 2018. Work with these employees to change their elections or communicate with their HAS custodian so that their 2018 HSA contributions do not exceed the lowered limit.
  • Continue to monitor the legislative and regulatory changes and determine whether those changes impact your health plans or your employee population.

You can read this report in entirety, by clicking here: Recent Health and Welfare Guidance Affecting Health Plans and Insurance Coverage

If you would like to discuss these developments and how they may impact your health and welfare plans or if you’d like to discuss your employee benefit plans generally, please feel free to contact the members of the Isler Dare PC Employee Benefits group.

Securities offered through Valmark Securities, Inc. Member FINRASIPC, 130 Springside Drive, Akron, OH 44333-2431, Tel: 1-800-765-5201. Investment Advisory Services offered through Valmark Advisers, Inc., which is a SEC Registered Investment Advisor. Fulcrum Partners LLC is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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