arrowFor an indi­vid­ual with self only cov­er­age the new max­i­mum allowance will be $3,400.

For those cov­er­ing any depen­dents the new max­i­mum allowance will be $6,750.

They’re seri­ous now…the penal­ties are get­ting real from the Depart­ment of Labor.

They have not made any adjust­ments in some time, but that time has now ended.
Effec­tive imme­di­ate­ly, and with future adjust­ments to be made every Jan­u­ary 15, the penal­ties for non com­pli­ance with var­i­ous parts of the DOL edicts are as follows:

Fail­ure to file a 5500 form – raised from $1,100 per day to $2,063 per day – each day late
Fail­ure to pro­vide a SBC to employ­ees is raised from $1,000 to $1,087 per failure
Fail­ure to pro­vide a 401k pre­emp­tion notice when auto­mat­ic con­tri­bu­tion arrange­ments are in place is raised from $1,000 to $1,632 per day of noncompliance

So yeah, get it done…