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Seminar Information
Section 125 Cafeteria Plans
Date: Tuesday, October 6, 2009
Time: 8:30 a.m. - 12:00 noon
Location: The Metropolitan map
Cost: No charge
Cafeteria plan administration is more than just taking premiums on a pre-tax basis – there are a myriad of rules and requirements to be followed. And even if you outsource FSA and dependent care administration, it is critical for you to know and understand the rules so that you can work with your employees and third-party administrator to ensure that things run smoothly and compliantly. Mistakes and oversights can result in huge tax and administrative repercussions for all involved.
The IRS issued sweeping new regulations in 2007 which must be followed starting in plan years beginning on or after January 1, 2009. In this seminar we will cover 29 new requirements from the 2007 regulations, as well as many other challenging rules that have not changed but may surprise you.
What attendees will learn:
- How to properly apply the challenging definition of “tax dependent” within your cafeteria plan – and how the definition differs for health insurance premium contributions versus health flexible spending arrangements
- A key new administrative rule that employers need to handle properly with respect to coverage for non-tax dependents – especially critical with recent changes to Minnesota’s “eligible dependent” rule for insured health plans
- The IRS’s aggressive new compliance position on various plan failures, sometimes referred to as the “nuclear bomb rule”
- New rules on qualified reservist distributions under the 2008 HEART law
- Exceptions to the pesky no-deferred compensation rule
- Permissible short plan year situations
- Health FSA grace period rules
- Guidelines on initial election time windows
- How to properly set up and administer status change rules
- Rules on orthodontia reimbursements for HFSAs
- Rules on electronic payment card use
- Key dependent care discrimination tests that may be tough to pass
- Simplified rules on tax ramifications for group term life insurance
- Key issues regarding the interaction of HFSAs, HRAs and HSAs
- Pretax premium issues for COBRA continuation coverage
- Critical issues regarding health FSA administration during FMLA leaves
- New nondiscrimination testing rules (yes, you do need to understand them)
- And much more!
As with all of our compliance programs, this seminar will focus on real-life, practical application issues, and not legal minutiae. Our goal is for participants to understand how to comply and be able to immediately apply what is learned. Attendees will receive a seminar manual and compliance reference that includes comprehensive cross-referencing to regulations, and key Internet links to other resources. It is not only a great learning tool during the seminar, but is also a tremendously valuable working resource back at the office.
For more information, please e-mail academy@acclaimbenefits.com or call 763.278.4620.