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Congress Passes Extension of Transit Benefit Cap
Edenred, the provider of the premier commuter benefits programs, Commuter Check and WiredCommute, applauds Congress’ swift action to keep the pre-tax transit benefit cap at $230 per month.
Read more … Congress Passes Extension of Transit Benefit Cap
Simple Cafeteria Plans - A GIFT for small employers.
Effective January 1, 2011, certain employers that establish “simple cafeteria plans” are exempt from the Code Section 125 nondiscrimination requirements as well as the non-discrimination requirements applicable to the plans offered through the cafeteria plan (e.g. Code Section 129 non-discrimination testing for dependent care FSAs, Code Section 105(h) non-discrimination testing for self-insured medical plans, etc).
Read more … Simple Cafeteria Plans - A GIFT for small employers.
IRS Form 8928 – Employers are now required to self report COBRA Administration Compliance Failures
If the American Recovery and Reinvestment Act wasn’t enough to make employers reexamine their trust relationship with their COBRA administrator, the IRS Form 8928 reporting requirements should certainly do so. Beginning with the 2010 Plan or taxable year, employers are now required to self-report their failures to comply with COBRA, HIPAA, and other health plan regulations to the IRS on Form 8928 and pay excise taxes and penalties for these compliance failures.