In an interview with LexisNexis Tax Law Center March 18, 2010, partner
Jay McElligott (Tax and Employee Benefits, Richmond) explained new
self-reporting and excise tax obligations of employers who sponsor group health
plans. Effective with plan years beginning after Jan. 1, 2010, employers now
have a duty to self-report certain health plan regulatory violations and pay
excise taxes, if those errors are not corrected within 30 days of the employer
learning of the violations.
McElligott told LexisNexis that self-reporting on IRS Form 8928 will be
required for excise taxes due for noncompliance with COBRA, HIPAA, GINA, MHPAEA,
the Newborns’ and Mothers’ Health Protection Act, Michelle’s Law, and rules
related to HSA and Archer MSA comparable employer contributions. The interview
will be posted at
law.lexisnexis.com/practiceareas/tax and available by iPod.