The HHS Office for Civil Rights (OCR) has announced it is increasing its investigations of breaches of unsecured protected health information (PHI) affecting fewer than 500 individuals. As a reminder, the HIPAA Breach Notification Rule requires breaches of unsecured PHI to be reported; breaches involving fewer than 500 participants must be reported to the Secretary of HHS annually. Information regarding the reporting requirement is available here.
In determining which smaller breaches to...Continue Reading
Breaking News: Yesterday, the U.S. Department of Health and Human Services, Office of Civil Rights (OCR) announced the largest settlement in history involving a single entity responsible for several potential HIPAA violations. If you are interested in learning more about this settlement, please click here and read this legal alert.
If an individual makes a Section 83(b) election to include in income the value of unvested property (such as restricted stock) that is transferred in connection with the performance of services, the individual must file the Section 83(b) election statement with the IRS no later than 30 days after the date the property is transferred. However, under final regulations recently issued by the IRS, the individual no longer has to file a copy of the Section 83(b) election statement with his or...Continue Reading
Newly proposed IRS regulations seek to clarify certain aspects of reporting of minimum essential coverage by employers and issuers under Code Section 6055. Here, we focus on proposals that impact employer reporting (Part III of Form 1095-C). These rules do not affect Parts I and II of Form 1095-C.
No duplicative reporting required: Because the prior rules regarding reporting of duplicative minimum essential coverage (MEC) were confusing, these proposed rules clarify that:
Extensive changes to the annual information return for employee benefit plans are being proposed and can be found here. If adopted, the changes would be effective for plan years beginning on or after January 1, 2019. The revisions affecting pension plans, and details regarding changes to Schedules H and I that affect funded plans (such as those with VEBAs), are not addressed here. With respect to group health plans, the main changes would include: