Update to the Health Savings Account (HSA) Family Maximum for 2018

On Thursday, April 26th, the IRS released Revenue Procedure 2018-27. This guidance modifies the annual limit for health savings accounts (HSAs) for individuals with family coverage under an HDHP. Specifically, this guidance allows health savings account holders to again treat the 2018 limit as $6,900. As background, on May 4, 2017, the IRS set the maximum HSA contribution …

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Senate Bill 189 Amendments

Senate Bill 189 (SB 189) amended Sections 3351 and 3352 of the California Labor Code, allowing more corporate officers, and/or directors and owners of professional corporations to waive workers’ compensation insurance coverage.   The following summarizes the SB 189 changes, effective July 1, 2018: Corporations: The stock ownership requirement for exclusion eligibility for officers and directors is reduced from 15 …

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ACA Penalties 2018

On November 2, 2017 the Internal Revenue Service (IRS)  issued revised FAQs on the employer shared responsibility provisions under the Affordable Care Act (ACA). Question sets 55-58 now detail the procedure the IRS will use to begin issuing proposed penalty assessments to employers that failed to comply with these provisions in 2015. Though the IRS was previously silent on the details of …

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