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Compliance Corner

May 16, 2017

Health Care Reform

House Passes the AHCA by Narrow Margin

On May 4, 2017, by a vote of 217-213, the U.S. House of Representatives narrowly passed the American Health Care Act (AHCA), which represents the House Republicans’ attempt to repeal and replace the ACA. The AHCA now heads to the U.S. Senate, where its future is uncertain.

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IRS Announces Update to Premium Tax Credit Eligibility

On May 4, 2017, the IRS released Rev. Proc. 2017-36 to announce the adjusted indexed applicable percentage table in IRC Sec. 36B(b)(3)(A)(i). This table is used to calculate an individual’s premium tax credit for tax years beginning after calendar year 2017 (i.e., plan years beginning in 2018).

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Preeclampsia Screening Added as Preventive Care Mandate under PPACA

On April 25, 2017, the U.S. Preventive Services Task Force (USPSTF) released a final recommendation statement on screening for preeclampsia. Preeclampsia may arise during pregnancy and causes high blood pressure, kidney damage and other related issues, and is a potentially life-threatening complication. Specifically, the USPSTF statement states that screening for preeclampsia in pregnant women is recommended, including taking blood pressure measurements throughout pregnancy.

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Federal Health Updates

IRS Publishes 2018 HSA Contribution Limits and Qualifying HDHP Deductible and Maximum Out-of-Pocket Limits

On May 4, 2017, the IRS published Rev. Proc. 2017-37, which provides the 2018 inflation-adjusted amounts for HSAs and HSA-qualifying HDHPs. According to the revenue procedure, the 2018 annual HSA contribution limit will increase to $3,450 (up $50 from 2017) for individuals with self-only HDHP coverage and to $6,900 (up $150 from 2017) for individuals with family HDHP coverage (i.e., anything other than self-only HDHP coverage).

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Announcements

Benefits Compliance Podcast Episode 8

This week, Suzanne Spradley and Chase Cannon discuss the House’s passage of the American Health Care Act (AHCA), which is the Republican bill aimed at repealing and replacing the ACA. Specifically, Suzanne and Chase have a detailed discussion on the AHCA’s impact on pre-existing condition exclusions from several different industry perspectives, and how the Senate’s debate of the issue may impact the future of the AHCA.

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May Webinar Series, Register Now

NFP Benefits Compliance has commenced the May offering of our quarterly series of compliance webinars. Remaining training dates are May 17 and May 24, 2017, at 3:00 p.m. ET, with the respective topics being: “Much Ado About Everything: Headlines and General Tips for the Retirement Plan Sponsor,” and “ERISA: Why the 40-Year-Old Law Is Still a Top Priority”.

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Retirement Legal & Compliance Update Now Available

The newest edition of the Retirement Legal & Compliance Update (Volume 7, No. 1) is now available. The newsletter includes an update on the DOL’s Conflict of Interest rule and on the Tibble v. Edison stock drop case. The newsletter also contains an FAQ on substantiating hardship distributions. Please ask your advisor for a copy.

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Next Edition of Compliance Corner Delayed

Due to the Memorial Day holiday, the next edition of Compliance Corner will be published on Wednesday, May 31, 2017.

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State Updates

California

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Idaho

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Montana

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New Jersey

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New York

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North Dakota

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Tennessee

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Vermont

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FAQ

When an employee adds a spouse following a marriage or during open enrollment, is the employer required to send a COBRA Initial Notice to the spouse?

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Reference

Commonly Used Acronyms

Glossary »
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NFP Corp. and its subsidiaries do not provide legal or tax advice. Compliance, regulatory and related content is for general informational purposes and is not guaranteed to be accurate or complete. You should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances.