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Health Care Reform and Excessive Waiting Periods

Under the Patient Protection and Affordable Care Act (PPACA), group health plans may not require a waiting period that exceeds 90 days before coverage is … See more

Actived: 3 days ago

URL: https://www.belfint.com/health-care-reform-and-excessive-waiting-periods/

Healthy Delaware Families Act Delaware Family Leave

WebOn May 11, 2022, the Healthy Delaware Families Act was signed into law, creating a Delaware Paid Family and Medical Leave Insurance Program (PFML). The PFML …

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Qualified Business Income Deduction Delaware Tax Planning

WebThe amount of the deduction may not exceed 20% of the taxable income less any net capital gains. So, for example, if the QBI for a married couple is $400,000 and their taxable …

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Form 5500 File Requirements Welfare Plans DE VA PA

WebThe general rule is that for any year in which a welfare plan had 100 or more participants on the first day of the plan year, the Form 5500 must be filed within 7 months …

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VEBA Audit Process ERISA Limited Scope Audits

WebThe Form 5500’s purpose is to report information regarding compliance with the Employee Retirement Income Security Act (ERISA). VEBA Trusts are subject to …

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80/120 Rule Plan Auditing Rules DE VA PA

WebThe DOL created the 80-120 rule so that plans that tend to have slight fluctuations in the number of participants from year to year do not have to change their …

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Voluntary Health Welfare Organizations Nonprofit CPA

WebA Voluntary Health and Welfare Organization (VHWO) is formed for the purpose of performing voluntary services for various segments of society and that is tax …

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Form 5500 Penalty Increases DOL Penalties DE VA PA

WebDOL Maximum Penalty. The maximum penalty for failing to file Form 5500 as adjusted in 2020 increased from $2,194 to $2,233 per day that the filing is late, starting on the …

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HHS Relief Funds Update Administrative Expenses DE PA NJ

WebOn April 10, 2020, the U.S. Department of Health and Human Services (HHS) automatically began distributing relief funds to “providers who billed Medicare-fee-for …

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2023 Form 5500 Changes Participant Count Methodology Change

WebAddressing this burden, on February 24, 2023, the Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation published in the Federal Register …

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2021 Top 300 Firm Inside Public Accounting Delaware CPA

WebWilmington, DE – July 21, 2021 — For the seventh consecutive year, Delaware-based certified public accounting firm, Belfint, Lyons & Shuman, CPAs (BLS) was ranked as a …

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Incorrect Definition Compensation Tip Deferrals DE VA PA

WebLearn about the common compensation issues for many businesses including the incorrect definition of compensation and how tips work with deferrals - DE VA PA

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Financial Ratios Current Ratio Nonprofit CPA Firm

WebHere are some ways to calculate your organization’s general financial health: Current ratio = Current assets / Current liabilities. The current ratio indicates the ability to satisfy short …

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Voluntary Fiduciary Correction VFCP Overview DE VA PA

WebThe Voluntary Fiduciary Correction Program – Overview. The Employee Benefit Security Administration (EBSA) is an agency of the Department of Labor (DOL) …

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Allocate Joint Costs Allocation Method Nonprofit CPA Firm

WebThe costs of a joint activity can be allocated between fundraising and other functions, rather than charged entirely to fundraising, but only if three criteria are met: 1. Purpose. This …

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Counting Participants

WebCounting Participants in a First Year Plan. Authored by Chris Ciminera, CPA, QKA on March 25, 2024. The 2023 Form 5500 Annual Return/Report of Employee Benefit Plan includes …

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Retirement Plan Distributions Taxation Mandatory 20

Web* Non-spousal beneficiaries may ask to have benefits distributed by the plan in a plan-to-plan transfer to an inherited IRA. ~ Generally distributions made prior to age …

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Section 125 Cafeteria Plan Section 125 Changes DE CPA Firm

WebIf you offer employees health care coverage under a Section 125 cafeteria plan, be aware that the IRS has made some recent changes. New rules now expand an employee’s …

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Counting Participants ERISA Limited Scope Audit DE VA PA

WebInevitably, a plan official or service provider failed to count a group of participants that they did not THINK should be included. Unfortunately, the participant …

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