Market Areas > Human Resources > Cafeteria Plans

New IRS Cafeteria Plan Rules: How to Adapt and Comply with the Regulation Changes

Course Description:

On August 3rd the IRS released new guidance that governs the design and operation of cafeteria plans.  The new rules replace a series of proposed and temporary Section 125 regulations and incorporate numerous other IRS notices and rulings affecting cafeteria plan sponsors, administrators and participants.  Failure to comply could result in all employee benefits being included in your employees’ taxable gross income.

Join CCM in this 75 minute audio conference to find out how these changes impact:

• Premium Only Plans
• Health Savings Accounts (HSA)
• Flexible Spending Arrangements (FSA) for health and dependent care
• Flexible Benefits Plans, and all benefits options included in such plans
• COBRA

Our tax expert will also help you to 1) effectively assess your current benefits plan, 2) make the important changes needed to comply with the new regulations, and 3) prepare for your next plan year.  Plus, you’ll find out:

• How to write or update your required written plan document to comply
• New requirements for debit card use substantiation, and employee agreements on use of their debit cards
• How these stricter rules are likely to impact what benefits you can offer in your cafeteria plan
• Stricter non-discrimination guidance, and how to make sure your procedures comply, in writing and in practice
• What benefits are now expressly eligible and ineligible under Section 125
• Group-term life care, and new clarification of when and how to calculate premiums in excess of $50,000 in coverage
• Smart strategies for new opportunities and challenges in redesigning the benefits package for your next plan year
• Specific language on FSAs that will need to be documented and communicated to employees
• Clarification on the definition of an eligible employee
• When and how you can reimburse employees for individually purchased health insurance
• Specific exceptions to the rules on deferred compensation and carry over of benefits from one year to the next

Plus, you’ll get the answers to your specific questions in the Q&A session following the discussion.

FACULTY:

Sharon R. Cohen, Group and Health Care Benefits Counsel, Watson Wyatt Worldwide’s Research and Innovation Center  
Sharon joined Watson Wyatt in 1999 and advises consultants on complex issues concerning employer-provided health plans, health and productivity arrangements, dependent care assistance plans, cafeteria plans, Health Savings Accounts (HSAs), as well as COBRA continuation coverage, HIPAA, retiree medical and other welfare benefit issues. 

Heather Meade, Groom Law Group
She is a member of the Health and Welfare and Legislation and Policy practice groups. Prior to practicing at Groom, Heather worked in the Senate for United States Senator Patty Murray and later as the Deputy Director of Surrogate Scheduling during the 2004 Presidential Campaign. At Groom, Heather advises Fortune 500 companies, trade groups, plan sponsors, insurers and plan administrators on issues concerning federal and state laws that impact the administration of ERISA welfare benefit plans, cafeteria plans, health savings accounts, and other employee benefit arrangements.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

APPROVED FOR RECERTIFICATION CREDIT:

HRCI - Receive 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.