IRS Retirement News for Employers

The IRS issued their Summer edition of Retirement News for Employers.  It is a free service offered by the IRS and generally presents a section on compliance errors, recent guidance as well as a DOL section.  It is a worth the read.  This issue includes topics such as 20% withholding, compensation errors and information on the LESE project (learn, educate, self-correct, enforce.

IRS releases summer issue of Retirement News for Employers

The IRS newsletter is always worth a read. This edition features articles covering

• avoiding compensation errors in retirement plans
• 20% withholding from retirement plan distributions
• a chat with Monika Templeman, Director of EP examinations
• DOL news and
• more

IRS extends deadline for Form 8928

Form 8928 must be filed by group health plans, plan sponsors or plan administrators who:

• fail to provide the required level of pediatric vaccine
• fail to comply with certain HIPAA requirements
• fail to make comparable Archer medical savings account contributions
• fail to make comparable HSA contributions 

Form 7004 must be filed to obtain the extension. This reporting requirement was effective January 1, 2010.

More information regarding Form 8928 can be found at the IRS website.

Summary of Benefit and Coverage proposed regulations released

PPACA required that a four page summary of benefits as well as a glossary of terms be provided to plan participants.  As noted in a previous post, the NAIC developed sample summaries.  Today, the government issued proposed regulations as well as "sub-regulatory" guidance and sample templates. The proposed rule is open to public comment for 60 days.

The regulations are effective March 23, 2012.

OCR gearing up for HIPAA audits

As posted recently on Healthcareinfosecurity.com, Susan McAndrew of the Department of Health and Human Services' Office for Civil Rights (OCR) indicated that OCR is working with KPMG on the creation of protocols for conducting HIPAA audits.  After about 20 test audits are conducted, OCR is planning on as many as 150 on-site audits which will continue through 2012.  In the interview McAndrew indicated that OCR is working with a separate contractor to gather information about covered entities.  McAndrew further indicated that they want to make sure they have a broad base of entities across a variety of entity types.

McAndrew notes that covered entities should take the opportunity to review their current policies and procedures to make sure they are complete and up to date.

Coverage of Preventive Services for Women under PPACA

For plan years beginning on or after August 1, 2012, new plans and non grandfathered plans must offer with no cost sharing, certain preventive care and screenings for women. Exemptions may be allowed for certain religious employers.

Interim final regulations were issued August 3, 2011 as well as an amendment to exempt religious employers from the requirement to cover contraceptive services. Comments are due on or before September 30, 2011.

Health Services and Resources Administration (HRSA) provides the following list of required preventive services:
·         Well-woman visits
·         Screening for gestational diabetes
·         Human papillomavirus testing
·         Counseling for sexually transmitted infections
·         Counseling and screening for human immune-deficiency virus
·         Contraceptive methods and counseling
·         Breastfeeding support, supplies and counseling
·         Screening and counseling for interpersonal and domestic violence