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IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans

McDermott Will & Emery Employee Benefits

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

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New York State Budget Institutes Revenue-Neutral Health Plan Tax

McDermott Will & Emery Employee Benefits

The New York State fiscal year 2024 – 2025 budget institutes a new tax on health plans, including insurers and managed care organizations. This tax has been garnering attention for its promise to yield $4 billion for New York State.

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5 CAA Benefits Changes and their Tax-Exempt Entity Impact

Corporate Synergies

Tax-exempt entities must understand how the CAA benefits changes impacted (and continue to impact) FSAs, DCAPs, and other health and welfare plans. Although extraordinarily helpful to benefit plan participants, the coronavirus (COVID-19) tax relief available under the Consolidated Appropriations Act, Read More.

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10 Proven Strategies to Boost Employee Retention in 2025

COMPackage

Incentive and welfare program for employee retention, building staffs loyalty reduce resignation rate for important talent, boss holding magnet to pull back resigned or leaving employee. Beyond salaries, offer benefits that align with employees needs, such as health insurance, retirement plans, and wellness programs.

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IRS Clarifies Status of Fixed-Indemnity Health Plans Claiming Big Tax Savings

McDermott Will & Emery Employee Benefits

A recent Internal Revenue Service (IRS) memorandum addresses the tax status of certain fixed-indemnity health plans that promise employers major payroll tax savings. The post IRS Clarifies Status of Fixed-Indemnity Health Plans Claiming Big Tax Savings appeared first on EMPLOYEE BENEFITS BLOG. Read the article.

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IRS Opines on the Tax Treatment of Employer-Funded, Insured, Fixed-Indemnity Wellness Policies

McDermott Will & Emery Employee Benefits

In light of recent Internal Revenue Service (IRS) guidance, employers should carefully examine any supplemental health plan, program or arrangement (which may or may not claim to leverage fixed indemnity insurance) that promises substantial payroll tax savings.

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2023 Brings Changes to the Laws on Employee Benefit Plans

McNees

trillion dollar spending bill, contains provisions which modify the laws applicable to welfare benefit plans and retirement benefit plans. Below is a high-level list of the provisions of the Act which are effective in 2023 and which may affect your plan: Welfare Benefit Plans. The Act, a $1.7 Webinar.

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