Tax Finance & Banking Health

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News & Analysis as of

The Elevator Speech Overview

The House and Senate were both in session this week. The White House reported Tuesday that 7.1 million people signed up for health insurance under the Affordable Care Act, meeting their original target for enrollment before...more

Post-DOMA, IRS and CMS issue further guidance regarding same-sex spouses

Last September, three months after the U.S. Supreme Court issued its landmark decision in United States v. Windsor, the IRS issued some much-anticipated guidance regarding the treatment of same-sex spouses. For employers who...more

April and May 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

Monthly Benefits Update

As expected, the Department of the Treasury and the IRS (the “Agencies”) finalized the employer information reporting requirements under the Affordable Care Act (the “ACA”) earlier this month. The final rules, which are...more

Small Ball Obamacare - Healthcare Strategies for Small Business Owners Under Obamacare

The sports term “Small Ball” usually refers to the productive but unglamorous approach of winning games. In most sports, as spectators we live to see the “big play”, i.e. the long touchdown pass; the grand slam or the slam...more

North Carolina Legislative Report - February 14, 2014

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...more

Insurance Topics We Will Be Watching in 2014

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2014. Forces, trends and events that we believe will affect regulation, transactions and...more

February and March 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

New Guidance For Cafeteria Plans, FSAs and HSAs

In June 2013, the Supreme Court held unconstitutional a federal law requiring only opposite-sex marriages to be recognized for federal law purposes. The Internal Revenue Service ("IRS") issued initial guidance in September...more

Employee Benefits Developments - January 2014

CASES - Court Finds Former NFL Player’s First Wife Is Surviving Spouse - A recent decision by the U.S. Court of Appeals for the Third Circuit demonstrates once again the importance of divorcing your first spouse...more

Analysis: The State of the Union in 2014

INTRODUCTION - On Tuesday, President Barack Obama delivered his fifth State of the Union Address before a joint session of the 113th Congress. In setting forth his priorities for the remainder of the year, he...more

Proposed Regulations Expand the Definition of Excepted Benefits

Recently issued proposed regulations would expand the categories of excepted benefits under the Employee Retirement Income Security Act of 1974 (ERISA), the Internal Revenue Code (the Code) and the Public Health Service Act. ...more

Washington Insight - January 2014

In This Issue: - Legislation to Renew Fast-Track Consideration for Trade Agreements Introduced - Congress Passes FY 2014 Omnibus Appropriations Bill - An Insider's View: Obama's Mid-Term Blues - What's in...more

Monthly Benefits Update - December 2013

The following are the most significant employee benefits-related legal developments that occurred in December of 2013. At the beginning of 2013, after considering feedback from our clients and contacts who work in the...more

2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

At Year End, IRS Issues Guidance On Cafeteria Plan Transitional Rules For Windsor

Finally, some guidance on mid-year cafeteria plan changes that many employers have already permitted in the wake of United States v. Windsor. On December 16, 2013, the Internal Revenue Service (IRS) released Notice 2014-1,...more

New Developments Impact Retirement Plans and Other Employee Benefits

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

Employee Benefits Alert: New Developments Impact Retirement Plans & More

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

IRS Provides Some Guidance on Federal Tax Matters for Same-Sex Marriage

Earlier this year, in the case of U.S. v. Windsor, the US Supreme Court struck down Section 3 of the Defense of Marriage Act (DOMA). Under Section 3 of DOMA, the definitions of "marriage" and "spouse" had been limited to a...more

Under The Dome: Inside The Maine State House 12-6-2013

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Budget Issues a Certain Component of Next Year’s Legislative Agenda - Maine’s budget...more

Monthly Benefits Update - November 2013

Health & Welfare Plans - Health Care Reform: Supreme Court Grants Review to Two Cases Challenging ACA’s Contraception Coverage Mandate - The United States Supreme Court has agreed to hear two cases challenging...more

December 2013 and January 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

Employee Benefits Update: 2013 Year End Plan Tasks

As we approach the end of the year, employers and plan sponsors of qualified retirement plans and health and welfare plans should take time to meet various upcoming deadlines. Failure to comply with the deadlines may result...more

Flexible Spending Accounts Become More Flexible

Flexible Spending Accounts (FSAs) or Health FSAs for years have let employers provide pre-tax dollars through employee salary reductions or employer contributions to an FSA account that the employee can spend as he or she...more

IRS and SSA Announce Dollar Limits and Thresholds for 2014

The Internal Revenue Service and Social Security Administration have announced cost-of-living adjustments to the dollar limits on contributions made to, and benefits under, tax-favored retirement and benefits plans, and other...more

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