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Every new year brings new requirements for compliance. Discover the top five compliance issues for employee benefits going into 2017.

On August 2, 2016, the Internal Revenue Service (IRS) issued proposed regulations on a number of issues relating to Minimum Essential Coverage (MEC) reporting, including the employer requirement to solicit a Taxpayer Identification Number (TIN) for covered individuals. In addition to the proposed regulations, the IRS recently issued updated instructions for Forms 1094/1095 to go along with the updated Forms.

On July 8, 2016, the Internal Revenue Service (IRS) released proposed regulations implementing cash-in-lieu rules previously announced in IRS Notice 2015-87. In the proposed regulations IRS confirms that where an employer offers an employee cash-in-lieu of enrolling in the employer’s medical plan, that cash amount must be added to the lowest cost employee-only premium for which the employee is eligible in determining the affordability of the plan. This is the case unless the employer requires proof of other coverage that is not individual market coverage (Exchange or other).