http://infinisource.net/Rss/Cafeteria-Plans.ashx Cafeteria-Plans News & Review 10 More than five million Americans are believed to have Alzheimer’s disease. As this staggering number rises, so does the cost of care for families of Alzheimer’s patients. Alzheimer's and dementia triple the health care costs for Americans age 65 and older, making many ask about tax deductions for this type of medical care. ../Infinisource/Article.aspx?articleId=ab2ca877-090c-4936-a5c3-c99ff9270fa6 Tuesday, March 02, 2010 In mid-October, the IRS went through its annual exercise of updating various definitions and thresholds based on inflation. This year, there was a difference: the inflation rate has been relatively flat. Therefore, when the IRS issued Revenue Procedure 2009-50 and News Release 2009-094, for the first time in a long time, the major news was that there was no news at all. ../Infinisource/Article.aspx?articleId=09a11de2-a2c8-4f65-900b-d71a60a2f45a Wednesday, November 04, 2009 More than a year ago, the IRS published Proposed Cafeteria Plan Regulations that replaced a hodgepodge of regulations and other guidance dating back to the early 1980’s. The Proposed Regulations had an effective date of the first day of plan years beginning on or after January 1, 2009. The thought was that Final Regulations would be issued sometime in 2009. This, of course, has not happened. ../Infinisource/Article.aspx?articleId=cc4c78a6-c40a-4d36-bcb5-d96a19143816 Thursday, January 15, 2009 In October, the IRS issued Revenue Procedure 2008-66 and News Release 2008-118, which make cost-of-living adjustments for various employer-sponsored benefit plans. ../Infinisource/Article.aspx?articleId=390fba1b-7bb7-4de9-80ae-26be708fc8df Thursday, November 06, 2008 It happens more often than we would care to admit. A new hire arrives and is given a quick overview of the employer's benefit package. The expectation is that enrollment must occur right away, before the end of the first pay period. In the process, the employee makes certain incorrect assumptions. Who is to blame? ../Infinisource/Article.aspx?articleId=5fbd84df-daa8-4d44-91de-08bee33058e8 Monday, May 12, 2008 Since they were issued in early August 2007, the Proposed Cafeteria Plan Regulations have created a stir in the benefits community. In many respects they have given us much needed guidance on a variety of issues related to Section 125 plans and their component benefit options. However, many open issues remain. ../Infinisource/Article.aspx?articleId=e704e296-ebb8-4825-823e-8862150718b0 Monday, November 12, 2007 Following the lead of Massachusetts, three states have enacted laws that require employers to establish cafeteria plans: Connecticut, Missouri and Rhode Island. Massachusetts recently rescinded a cafeteria plan filing requirement. ../Infinisource/Article.aspx?articleId=4aef097b-e6d7-4a04-89dd-038e76687627 Monday, October 08, 2007 Cafeteria plan sponsors offering cash-out options can breathe a sigh of relief. The Department of Defense (DoD) recently confirmed that a law passed last year does not prohibit this benefit option. ../Infinisource/Article.aspx?articleId=2d7eb8cd-5d5f-4736-a7db-63bde1e4b9f9 Monday, October 08, 2007 The preeminent flexible benefits organization, the Employers Council on Flexible Compensation (ECFC), held its 20th Annual Administrators' Symposium in August, and several Infinisource employees learned about the latest industry trends as well as important insights into regulations recently issued by the IRS. ../Infinisource/Article.aspx?articleId=8a967538-ece3-422b-8c07-65e7f79992b0 Monday, September 10, 2007 In early August, the IRS applied a fresh coat of paint to the collage of prior proposed and temporary cafeteria plan regulations and other guidance, some of which dated back to 1984. The proposed regulations take effect for plan years starting on or after January 1, 2009. Until then, employers may rely on either these proposed regulations or the previous guidance. ../Infinisource/Article.aspx?articleId=d43a1ea1-a0ed-42a8-895d-44317fd1ccf6 Monday, August 13, 2007 The National Anthem plays in the background as a figure of Uncle Sam appears. The picture of patriotism comes to mind for some. For others, the picture of Uncle Sam, with his white hair and goatee, often dressed in red, white and blue with a top hat, bring other thoughts during this time of year – tax time. Never fear, Uncle Sam is here with some written publications to assist. The IRS recently revised two publications to assist with the preparation of taxes, Publications 969 and 15-B. ../Infinisource/Article.aspx?articleId=af9fcaca-afe3-4e7d-b5e5-fa3f2daf1a21 Monday, March 12, 2007 In July 2006, the IRS issued what one might call a homework assignment to major merchants and FSA/HRA electronic payment card/debit card vendors. The assignment was easily understood but not easily accomplished: create an Inventory Information Approval System (IIAS) before 2007 to allow debit card use and auto-substantiation at merchants with non-health care related merchant category codes (MCCs). ../Infinisource/Article.aspx?articleId=d4f3b236-6b32-442c-9d58-0dd05e29352d Tuesday, January 09, 2007