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In June 2016, AmSurg Corp. and Envision Healthcare Holdings, Inc. (Envision) announced they have signed a definitive merger agreement pursuant to which the companies will combine in an all-stock transaction. Upon completion of the merger, which is expected to be tax-free to the shareholders of both organizations, the combined company will be named Envision Healthcare Corporation and co-headquartered in Nashville, Tennessee and Greenwood Village, Colorado. The company's common stock is expected to trade on the New York Stock Exchange under the ticker symbol: EVHC. Bass, Berry & Sims served as lead counsel on the transaction, led by Jim Jenkins. Read more.

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Inside the FCA blogInside the FCA blog features ongoing updates related to the False Claims Act (FCA), including insight on the latest legal decisions, regulatory developments and FCA settlements. The blog provides timely updates for corporate boards, directors, compliance managers, general counsel and other parties interested in the organizational impact and legal developments stemming from issues potentially giving rise to FCA liability.

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Employee Benefit Plan Amendments May Be Required by Year-End

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October 7, 2014

Cafeteria Plan Amendment Required for Health Flexible Spending Arrangement Annual Limit

The Patient Protection and Affordable Care Act amended the Internal Revenue Code to impose an annual limit of $2,500 on an employee's contributions to a cafeteria plan's health flexible spending arrangement ("health FSA") effective for plan years that begin on or after January 1, 2013. This requires an amendment to most cafeteria plans with a health FSA. Pursuant to Internal Revenue Service ("IRS") Notice 2012-40, plans may be amended retroactively to adopt the $2,500 annual limit (or a lower limit as determined within the discretion of the plan administrator) until December 31, 2014. Failure to timely adopt the $2,500 annual limit may result in adverse tax consequences for employers and employees.

Qualified Retirement Plan Amendment May Be Required for United States v. Windsor

As we have discussed in previous alerts, in United States v. Windsor, the Supreme Court of the United States struck down Section 3 of the Defense of Marriage Act ("DOMA"), which limited federal recognition of marriage to legal unions between one man and one woman. The IRS subsequently issued Revenue Ruling 2013-17 to provide that, effective September 16, 2013, for purposes of enforcing the Internal Revenue Code, the IRS will recognize a same-sex marriage that is valid in the state where it was celebrated, regardless of where either spouse is later domiciled.

Pursuant to IRS Notice 2014-19, if the terms of a qualified retirement plan define a marital relationship by reference to DOMA or are otherwise inconsistent with the outcome of Windsor or Revenue Ruling 2013-17, then the plan must be amended to reflect the outcome of Windsor, effective no later than June 26, 2013, and to reflect the guidance in Revenue Ruling 2013-17, effective no later than September 16, 2013.

The amendment must be formally adopted by the latest of: (i) the end of the plan year in which the change is effective, (ii) the due date of the employer's tax return for the tax year that includes the date the change is effective, and (iii) December 31, 2014. [1] For example, the amendment deadline will be December 31, 2014 for a qualified retirement plan that has a calendar plan year and is sponsored by an employer with a calendar tax year.

Please contact a member of our Employee Benefits Practice Group if you need assistance with amending your cafeteria plan's health FSA or qualified retirement plan for the above items.



[1] Governmental plans may have additional time to adopt the amendment.


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