Benefits Compliance Resources  



  1. ACA Reporting Guide
    1. Updated October 2022: Certain employers, plan sponsors, and insurers are required to report health plan information and participant coverage data to the IRS. The IRS uses this information to administer and regulate various aspects of the Affordable Care Act (ACA), including an individual’s eligibility for a premium tax credit when purchasing health insurance through a public Marketplace and the §4980H employer shared responsibility rules. The following is a practical guide to understanding the ACA 1094 and 1095 employer reporting requirements.

  2. State Individual mandate Reporting Guide
    1. Updated January 2022: This guide provides details about the reporting requirements in each applicable state. We start with a high-level chart that summarizes the key requirements by state. In subsequent sections, additional details are provided along with links to resources for further information.

  3. HSA Guide
    1. Updated September 2022: There are specific rules about who is eligible to contribute to an HSA; how much may be contributed to an HSA; and which medical expenses are reimbursable by the HSA, and a failure comply with such requirements could result in the loss of the tax-favored treatment and potentially in excise taxes. This following is a practical guide to understanding HSAs.

  4. IRS § 125 Election Change Guide
    1. Updated January 2022: Cafeteria plans are written plans under which participants (who must be employees) may choose among two or more benefits consisting of cash and qualified benefits (e.g., health insurance). Many employers will structure their cafeteria plan as a salary reduction plan, allowing employees the choice between receiving their full salary in cash or have their salary reduced to purchase pre-tax qualified benefits. When participants make an election under a salary reduction plan, the general rule is that the election must remain in place (i.e., is “irrevocable”) for the duration of the plan year. This means that generally, employees may not make changes to their elections mid-year. However, there are certain instances in which an exception to the general “irrevocability rule” may be made, assuming the plan sponsor has drafted its cafeteria plan to allow it. The purpose of this guide is to outline these exceptions in more detail to provide guidance for brokers and their clients about: 1) when mid-year election changes are permitted; and 2) exactly what changes may be made.