On October 25 and 27, 2016, the IRS released cost of living adjustments for 2017 under various provisions of the Internal Revenue Code (the Code).
Some of these adjustments may affect your employee benefit plans. These adjustments include but are not limited to the following:
- Cafeteria Plans
- Qualified Transportation Fringe Benefits
- Requirement To Maintain Minimum Essential Coverage (Individual Penalty)
- Highly Compensated
- Non-Grandfathered Plan Cost-Sharing Limits
- H.S.A. Annual contribution limitation, catch up contribution and minimum deductibles
- Key Employee
As always if you have any additional questions or concerns, please contact your dedicated Total Benefit Solutions, Inc. account manager at (215)355-2121.