WASHINGTON—The maximum contributions that can be made to health savings accounts in 2007 will increase, while the minimum deductible imposed on health insurance plans linked to HSAs and the maximum out-of-pocket expenses that employees can be required to pay also will rise, the Internal Revenue Service announced Thursday.
IR-2006-168, Nov. 1, 2006 WASHINGTON — The Internal Revenue Service today issued the 2007 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
IR-2006-175, Nov. 9, 2006 WASHINGTON — The Internal Revenue Service today issued guidance emphasizing the need for employers to track the amount of expense reimbursement allowances paid to employees on a per diem basis.
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) added a new prescription drug program to Medicare. Under those provisions, most entities that currently provide prescription drug coverage to Medicare Part D eligible individuals must disclose to the Centers for Medicare & Medicaid Services (CMS) whether the coverage is "creditable prescription drug coverage" (Disclosure Notice).
Business Insurance - CHICAGO—Wage-and-hour litigation outpaced all other types of workplace class actions in 2005
On November 16, 2005, the Commission met and approved a revised EEO-1 report.
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