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H.R. 3236 – New Bill Impacts Group Plans

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By Compliance Dashboard
 on August 27, 2015
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On July 31, 2015, President Obama signed into law H.R. 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.”ย ย  The new law includes several changes that impact group plans.

Employer Mandate:ย  The new act impacts the ACA Employer Mandate in that individuals enrolled in a health plan under the VA or TRICARE will be exempt from being counted in the 50 full-time employee threshold when calculating whether or not you are an applicable large employer.ย  This change is effective as of January 1, 2014.

Health Savings Account (โ€œHSA”) Eligibility:ย  Otherwise eligible individuals will not be disqualified from contributing to an HSA solely as a result of receiving medical care under the VA for a service related disability.ย  In the past, such coverage would have made them ineligible to contribute to an HSA.ย  ย This change is effective January 2016.

Form 5500:ย  The maximum extension for filing Form 5500 will be increased to an automatic three and one-half month period.ย  For calendar year plans, this means a deadline of November 15 as opposed to the current two and one-half month extension which is October 15.ย  This change is effective for taxable years beginning after December 31, 2015.