In this issue:
- Assess the Workforce
- Choose Whether to "Pay" or to "Play"
- Evaluate Existing Wellness Programs and/or Implement New Wellness Programs to Enhance Employees' Health Profiles and to Avoid or Minimize the "Cadillac Tax"
- Understand and Be Ready to Comply with New Tax-Related Changes and Requirements
- Conduct Self-Audits to Ensure Compliance
An excerpt from "Conduct Self-Audits to Ensure Compliance"
The DOL has already begun auditing employers' group health plans and is expected to step up its auditing efforts this year. As is typical of a DOL group health plan audit, the DOL is seeking documentation that demonstrates an employer's compliance with the Affordable Care Act. An insufficient response to a DOL audit request could lead to additional inquiries and even lawsuits. Moreover, various penalties could be imposed by the DOL and/or the IRS for failure to implement certain Affordable Care Act-related coverage mandates.
Please see full newsletter below for more information.
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Topics: Access the Workforce, Audits, Cadillac Tax, DOL, Financial Services Authority, Full-Time Employees, IRS, Medicare Taxes, Pay or Play, Shared Responsibility Rule, W-2, Wellness Programs
Published In: Administrative Agency Updates, Health Updates, Insurance Updates, Labor & Employment Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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