Music. Hi, my name is Finn Presley and welcome to McDermott Tax Dates. I'm joined today by my partner Judith Ethel and we're here to talk about some of the ways that the new tax reform legislation is going to impact your employee benefit plans, specifically your fringe benefits and your health and welfare plans. Judith, start us off with the new Family Medical Leave Tax Credit. Oh, this is an exciting one, Finn. I'm really jazzed about this. This is basically money on the table for employers, and they need to be focused on this for 2018 and 2019. If you're paying any portion of wages for certain individuals who are on FMLA, you can take a tax credit. It's exciting, and I think people aren't really focused on it right now, so you want to dig down and get some more information. As I said, it's limited to certain employees. It's only employees making less than $72,000 a year, but many employers are already providing this program, so why not get the benefit? Exactly. Something else that came out of the new tax reform legislation is the repeal of the individual mandate beginning in 2019. Now, employers are interested in this, but I don't think we're gonna see a lot of changes to employee benefit plans. We may see a slight dip in enrollment of some folks deciding that they're gonna waive their health insurance beginning in 2019, but I don't think it's gonna be much of a material change. A lot of employers have also asked if that's going to mean ACA reporting goes away, and unfortunately right now, for the time being, ACA reporting is still here to stay as long as we have the employer mandate. We're still gonna have to do that 1095-C each year. That's...
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