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  • Regulatory News

    • 2020 out of pocket maximums for in-network

      Each year, the Department of Health and Human Services (HHS) releases updated Notice of Benefit Payment Parameter (NBPP) Rules. The NBPP for 2020 increases the in-network out of pocket maximum to the following:$8,150 for self-only coverage$16,300 for other than self-coverage Lifetime Benefit Solutions, Inc. is not a law firm, has not reviewed that information for legal sufficiency, and does not give legal or tax advice. The sponsoring employer should have this information reviewed by its own le Read More…

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  • 401(k) News

    • IRS updates procedures for letter rulings, determination letters, and other guidance

      The IRS has updated and restated its revenue procedures governing letter rulings, determination letters, and other guidance, including guidance about employee benefit plans. Rev. Proc. 2019-1 explains the forms of advice that the various IRS counsel offices provide and how taxpayers can request that advice. Relatively few changes have been made for 2019. The procedure can no longer be used to request waivers of the excise tax for failure to give timely notice of a significant reduction in the ra Read More…

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