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Posted by: Christy Gibson on Nov 7, 2012

(Laws and regulations effective in 2013)

1.Severance agreements must be amended to comply with I.R.S. Regulation 409A by December 31.  Think about all those severance agreements conditioned upon a release being signed.

2.The Patient Protection and Affordable Care Act

·       Distribute Summary of Benefits and Coverage with open enrollment materials and to new hires / new enrollees for the plan year beginning on or after September 23, 2012.

·       Ensure process is in place for health coverage reporting on Form W-2 to be distributed in January, 2013.

·       Reduce Health FSA limit to $2,500 for the plan year beginning on or after January 1, 2013.

·       Distribute Medicare Part D Notices of Creditable and/or Non-Creditable coverage by October 15.

·       Distribute annual WHCRA and CHIPRA notices.

·       Adopt amendments for 2012 Plan Design Changes (ensure non-grandfathered plan claims procedures comply with latest PPACA guidance).

·       Re-submit Annual Limit Waiver Extension form and attestation by December 31, 2012 if the plan has been granted a waiver under PPACA.

·       Distribute Annual Limit Waiver notice to participants with any materials describing plan benefits (e.g., SPDs).

·       Include the Grandfathered Plan Status Notice and the Patient Protection Notice, as applicable, in the SPD or any other summary of benefits.

·       Distribute Summary Annual Reports within 9 months after plan year end or 2 months after Form 5500 is due (with extension).

·       Ensure that any MLR Rebate has been properly applied.

Checklist by Haynes and Boone, LLP