IRS announces proposed changes to cafeteria plan elections and lookback period
 

IRS announces proposed changes to cafeteria plan elections and lookback period

The IRS issued two notices on Thursday, proposing to change the rules for when a taxpayer can revoke health care coverage in a cafeteria plan and enroll in a plan on the Health Insurance Marketplace exchanges, and how to measure the lookback period for determining who is a full-time employee when an employee moves positions within the same employer group. Both pieces of guidance are issued under the Patient Protection and Affordable Care Act, P.L. 111-148, as amended by the Health Care and Education Reconciliation Act of 2010, P.L. 111-152. Read more on the Journal of Accountancy.