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IRS releases guidance on wellness programs and “affordability” under the employer mandate

Proskauer Rose LLP
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USA
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May 10 2013

On May 3, 2013, the IRS released proposed regulations on certain provisions relating to the federal premium tax credits that eligible individuals

IRS releases guidance for employers and others on the 2013 Medicare taxes under the Affordable Care Act

Proskauer Rose LLP
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USA
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December 10 2012

On November 30, 2012, the Internal Revenue Service released proposed regulations and two sets of frequently asked questions implementing two new Medicare taxes under the Patient Protection and Affordable Care Act that are effective starting in 2013

IRS releases proposed regulations on the Affordable Care Act's play or pay mandate

Proskauer Rose LLP
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USA
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January 28 2013

On January 2, 2013, the Department of Treasury and Internal Revenue Service (collectively "IRS") published proposed regulations ("Proposed

IRS defers application of nondiscrimination rules for insured group health plans

Proskauer Rose LLP
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USA
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December 23 2010

On December 22, 2010, the Internal Revenue Service ("IRS") released Notice 2011-1, which defers application of certain nondiscrimination requirements applicable to insured group health plans under the Affordable Care Act (the "Act"

IRS releases additional guidance on use of FSA & HRA electronic debit cards

Proskauer Rose LLP
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USA
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January 6 2011

On December 27, 2010, the Internal Revenue Service ("IRS") released Notice 2011-5, which offers additional scenarios under which an electronic debit card may be used to purchase over-the-counter ("OTC") medicines or drugs obtained with a prescription, as required under the Affordable Care Act effective January 1, 2011 (a brief transition period exists for debit card purchases between January 1 and January 15, 2011, after which compliance is required

State tax issues under the Affordable Care Act

Proskauer Rose LLP
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USA
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February 14 2011

In general, coverage under a group health plan for an employee, spouse, and other "eligible tax dependents" is excludable from the employee's gross income for federal tax purposes

IRS releases guidance on Form W-2 informational reporting requirement

Proskauer Rose LLP
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USA
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April 4 2011

On March 29, 2011, the Internal Revenue Service ("IRS") released Notice 2011-28, which provides guidance to employers on the requirement under the Affordable Care Act (the "Act") to report the cost of employer-sponsored health coverage on employees' annual Forms W-2

Reminder: Section 125 plans may need to be amended by July 1

Proskauer Rose LLP
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USA
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May 31 2011

As discussed more fully in our September 28, 2010 client alert (Changes on Over-the-Counter Drug Coverage Required Under Health Care Reform in 2011) and mentioned again in our May 9, 2011 client alert (Health Reform Update: Recent Changes and Challenges to the Affordable Care Act), IRS Notice 2010-59 provides that over-the-counter medicines or drugs purchased without a prescription on or after January 1, 2011 (other than insulin) may no longer be paid for or reimbursed under account-based plans, such as health FSAs, HRAs, and HSAs

IRS clarifies previous guidance on Form W-2 informational reporting requirement

Proskauer Rose LLP
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USA
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January 12 2012

On January 3, 2012, the Internal Revenue Service ("IRS") released Notice 2012-9, which restates and clarifies its prior guidance on the requirement under the Affordable Care Act to report the cost of employer-sponsored health coverage on employees' annual Forms W-2 (using box 12, code DD