It’s that time of year again. Employers who sponsor a fully insured group health plan may be receiving a Medical Loss Ratio (MLR) rebate from insurers. Self-insured medical benefit plans are not subject to these requirements. The rebates raise several […]
More Flexibility Coming to Flexible Spending Accounts
The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act), the Consolidated Appropriations Act, 2021 (CAA) and now the American Rescue Plan Act of 2021 (ARPA) each include many provisions that affect retirement, welfare and fringe benefit programs. […]
Personal Protective Equipment Eligible for Reimbursement Under HSA, HRA, or FSA
The Internal Revenue Service (IRS) has announced (2021-7) that amounts paid by individuals for certain personal protective equipment (PPE), including masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19, are treated as expenses […]
American Rescue Plan Act of 2021 (ARPA)
On March 11, 2021, President Joe Biden signed into law the American Rescue Plan Act of 2021 (ARPA). The legislation goes into effect April 1, 2021 and contains provisions for a COBRA subsidy and an increase to the annual dependent […]
Health Care Reform Updates
The Ban on Surprise Medical Bills Will Take Effect in 2022 On Dec. 27, 2020, President Donald Trump signed the Consolidated Appropriations Act of 2021 into law, a $900 billion stimulus bill that includes emergency economic relief, government funding and tax cuts. […]
The Affordable Care Act (ACA) affordability of employer-sponsored health coverage will decline to 9.78% of an employee’s household income for the 2020 plan year
Affordability Standards Under the ACA, employer-sponsored minimum essential coverage (MEC) is affordable if an employee’s required contribution for the lowest-cost, self-only option with minimum value does not exceed an annually indexed percentage of the employee’s household income. Employees and their […]
Voluntary Benefits are Critical to Recruit Truckers
As trucking industry employers scramble to make up a huge and growing shortfall in drivers, they’re finding that the solution involves more than richer wages and signing bonuses. Voluntary benefits, customized to drivers’ unique needs and also extended to contract […]
2020 Furnishing Deadline Delayed and Additional Transition Relief Granted
The IRS has delayed the deadlines by which employers must furnish 2020 Forms 1095-C and 1095-B in early 2021. For 2020, the furnishing deadline was Feb. 1, 2021, Since Jan. 31, 2021, is a Sunday. The IRS has provided an additional […]
2020 ACA Reporting Forms and Employer Mandate Penalties for 2021
IRS updated 2020 ACA Reporting Forms An applicable large employer with more than 50 full-time and full-time equivalent employees in the prior year is required to report to IRS on the coverage they offer on Forms 1094-C and 1095-C. This […]
Great news! We have extended rates holds through the end of 2020 for some of your clients. See details below to determine which of your clients may qualify. If you have any questions, please contact your Account Manager. Groups with […]
