Have a look at some of the top employee benefits stories from this quarter.

PCORI Fees Due by August 1, 2022
Employers who sponsor self-insured group health plans, including health reimbursement arrangements (HRAs), should keep in mind the upcoming 8/1/22 deadline for paying fees that fund the Patient-Centered Outcomes Research Institute (PCORI) via Form 720, which was recently updated and released by the IRS. Normally the form and fee are due July 31 of each year; however, due to the fact that July 31, 2022, is a Sunday, the form and payment are due August 1, 2022.

Read more here.

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HSA/HDHP Limits Increase for 2023
On April 29, 2022, the IRS released Revenue Procedure 2022-24 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2023. The IRS is required to publish these limits by June 1 of each year.

Read more here.

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2022 Compliance Checklist for Employers with 100 or More Employees

The 2022 Compliance Checklist is a summary self-audit compliance guide for employee benefit plans under ERISA, the Internal Revenue Code, HIPAA, and other applicable statutes. This checklist is intended to help ensure the company’s “welfare benefit plans” comply with ERISA and certain other statutes.

This checklist applies to “welfare benefit plans” as defined under ERISA. This means that certain items in the summary checklist are not applicable to government entities and “church plans” because they are exempt from ERISA. Also, this checklist is not applicable to retirement plans. That is, this checklist is directed at only “welfare benefit plans” such as group health plans, group term life insurance, disability plans, etc.

Read more here.

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Update on WA Cares Fund
Governor Jay Inslee signed two bills passed by the Legislature making key changes to the Washington Cares Fund. These reforms will address coverage gaps and delay program implementation by 18 months.

Read more here.