October 2019 Compliance Newsletter

ACA Compliance Bulletin:
Proposed Rule on the Impact of ICHRAs on the ACA's Pay or Play Rules

Beginning Jan. 1, 2020, some employers will be able to offer individual coverage HRAs (ICHRAs) to help employees pay for individual health insurance. The Internal Revenue Service (IRS) published proposed regulations on how the following federal requirements will affect ICHRAs.
 

Compliance Bulletin:
DOL Issues New Salary Limits for Overtime Exemptions

On Sept. 24, 2019, the U.S. Department of Labor (DOL) announced a new final rule that updates the salary thresholds that some individuals must meet in order to qualify for a minimum wage and overtime exemption under the federal Fair Labor Standards Act (FLSA). 
 

Compliance Bulletin:
FAQs on the New White Collar Overtime Exemption Rule

FAQs are now available for the new final rule that updates the salary thresholds that some individuals must meet in order to qualify for a minimum wage and overtime exemption under the federal Fair Labor Standards Act (FLSA). The final rule becomes effective on Jan. 1, 2020.

Compliance Bulletin:
DOL Proposes to Amend Employee Tip Regulations

On Oct. 8, 2019, the U.S. Department of Labor (DOL) published a proposed rule to amend employee tip regulations under the Fair Labor Standards Act (FLSA). This proposed rule has been issued, in part, to incorporate legislation approved by Congress in 2018. The rule also incorporates guidance the DOL has published over the years about tipped wages. 
 

Compliance Bulletin:
EEO-1 Component 2 Filing System Remains Open After Sept. 30, 2019 Deadline

The online filing system that certain employers must use to submit pay and work-hour (“Component 2”) data as part of their EEO-1 reports will remain open for submissions while a court order that mandated these submissions is in effect.
 

Compliance Overview:
Key HSA Features - 2020 Compliance

Health savings accounts (HSAs) are a popular type of tax-advantaged medical savings account available to individuals enrolled in high deductible health plans (HDHPs). Individuals can use their HSAs to pay for expenses covered under the HDHP until their deductible has been met, or they can use their HSAs to pay for qualified medical expenses that are not covered under the HDHP, such as dental or vision expenses.  This compliance overview summarizes key features for HSAs, including the contribution limits for 2020.