Monthly Archives: February 2012

Health Reform Questions: Form W-2 Reporting

February 13th, 2012

February 2012  In meeting the new Form W-2 Reporting requirements, what coverages provided by the employer to employees must be reported? The Form W-2 reporting requirement applies only to “applicable employer-sponsored coverage,” a term that generally includes any employer-provided group health plan coverage under an insured or self-insured health plan that is excludable from the...

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Health Reform Questions: New Health FSA $2,500 Limit for 2013

February 13th, 2012

Health care reform imposes a new $2,500 limit on annual salary reduction contributions to health FSAs offered under cafeteria plans. When is this change effective?  Under Code Section 125(i), as amended by PPACA, Pub. L. No. 111-148 (2010) and HCERA, Pub. L. No. 111-152 (2010), this change is effective for taxable years beginning after December...

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IRS Mileage Rates for 2012 Announced

February 13th, 2012

The IRS has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Background:If you use a personal vehicle for business driving, you can generally deduct the actual expenses attributable to your business use. This includes expenses such as gas, oil,...

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Cracking Down on Insurance Companies, Protecting Consumers

February 13th, 2012

By Kathleen Sebelius, Secretary of Health and Human Services http://www.healthcare.gov/blog/2012/01/ratereview01122012.html The health care law gives us new tools to protect consumers who are looking for health insurance.  One of those tools is “rate review”.  For the first time ever, in every State, insurance companies are required to publicly justify their actions if they want to...

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Spotlight on Key Business Legal Issues for 2012

February 13th, 2012

February 2012 It’s a new year and with it comes change. With the upcoming presidential election and evolving technological advancements, there will be plenty of challenges ahead. Here are eight issues that might result in legal issues for businesses during 2012:1. Online piracy of intellectual property. Debate is heating up about the protection of intellectual...

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