The riptide with self-funded medical plans and HMOs
Article Abstract:
Employee group health benefit planners are witnessing the growing popularity of schemes such as corporate self-funding of medical claims and employee coverage through health maintenance organizations. Corporations that implement them, however, are unwittingly inviting a backlash. It was found that such plans clash squarely with an entrenched Internal Revenue Service (IRS) Code that taxes benefit claims made in the name of the upper 25% of the employee population. So far, the IRS has not enforced the Code although its impending implementation should worry affected corporations who would have wanted to decrease their medical expenses through such plans.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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The new IRS group term life coverage tax table and how to use it
Article Abstract:
The taxable value of employer-provided group term life insurance or 'imputed income' is determined by multiplying the amount of coverage in excess of $50,000 by age-related valuation rates established by the IRS. These valuation rates are presented in an IRS table called 'Uniform Premiums for $1,000 of Group-Term Life Insurance Protection.' It should be noted that the IRS has adopted new valuation rates for this table that are generally effective as of Jul 1, 1999, although the agency has issued transition guidelines to facilitate mid-year compliance by employers.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1999
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IRS guidance for new rules on payments from retirement plans
Article Abstract:
The IRS has circulated several temporary regulations regarding the new directed rollover and withholding rules for distributions from qualified retirement plans and tax-sheltered annuities. These regulations are in consonance with a recent law that mandates plans to permit participants to choose to have qualified distributions directly rolled over to other qualified plans and individual retirement accounts.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1993
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