On June 19, 2020, the Internal Revenue Service (IRS) issued proposed regulations under a portion of the 2017 Tax Cuts and Jobs Act that eliminated the employer deduction for certain employee transportation benefits. The Tax Cuts and Jobs Act changed Section 274 of the IRS Code to disallow employer deductions …
Due to the urgent need to help facilitate the nation’s response to the current public health emergency posed by COVID-19, the Departments of Labor, Health and Human Services and the Treasury have provided answers to a second set of frequently asked questions (FAQs Part 43). This FAQ document provides guidance …
Benefit changes surrounding New Jersey Temporary Disability Insurance (TDI) and Family Leave Insurance (FLI), as well as California Paid Family Leave (PFL), will go into effect July 1, 2020. Outlined below are updates that may impact your employee population. New Jersey Benefit Changes The benefit level is increasing for both …
In response to the COVID-19 pandemic, states have passed new employee leave laws and issued new regulations on existing leave laws. These provisions are in addition to the federal Emergency Paid Sick Leave and Emergency Family and Medical Leave Expansion requirements passed on March 18, 2020 as part of the …
The Affordable Care Act (ACA) imposes a fee on health insurance issuers and plan sponsors of self-insured health plans to help fund the Patient-Centered Outcomes Research Institute (PCORI). The PCORI fee was scheduled to expire for plan or policy years ending on or after October 1, 2019. However, a federal …
The proactive response made to help flatten the COVID-19 curve and preserve personal protective equipment (PPE) has impacted the healthcare economy in profound ways, especially to the dental industry. On March 16, 2020, the American Dental Association (ADA) issued guidance stating that dental practices need to postpone elective procedures and …
On May 20, 2020 the Internal Revenue Service (IRS) released Revenue Procedure 2020-32, which provides the inflation adjusted amounts for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs) for the 2021 plan year. As cost of living expenses continue to rise, the IRS annually adjust the following amounts …
To assist with the issues presented by the Novel Coronavirus outbreak, the Internal Revenue Service (IRS) released Notice 2020-29, which provides flexibility for mid-year election changes under a Section 125 cafeteria plan during 2020. This flexibility has been designed to encourage employers, who sponsor health flexible spending accounts (FSAs) and …
Due to the COVID-19 outbreak, employees may be more likely to have unused funds in their health flexible spending accounts (FSAs) or dependent care assistance program (DCAP) accounts. Health FSAs and DCAPs are accounts individuals can make pre-tax contributions to, that are then used to pay for certain out-of-pocket …
Due to the COVID-19 pandemic, schools and day care facilities have been forced to close. With the lack of availability and, in some cases, need for childcare, employees are being encouraged to re-evaluate their Dependent Care Assistance Program (DCAP) contributions and consider alternate uses for these funds. Under ‘normal’ circumstances, …
Updated Model COBRA Notices & FAQs On May 1, 2020 the U.S. Department of Labor (DOL) issued new model notices for group health plan administrators to use to comply with COBRA notification requirements. Plan administrators are not required to use the updated model notices, however, the DOL considers their use …
On April 9, 2020, the Internal Revenue Service (IRS) extended key tax deadlines for individuals and businesses in response to the ongoing COVID-19 pandemic. The new tax relief gives the IRS authority to postpone deadlines for taxpayers affected by federally declared disasters. Form 5500 – Automatic Deadline Extension Notice 2020-23 …
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law to address the current COVID-19 pandemic. The Act provides $2.2 trillion of economic relief for Americans, businesses and the healthcare industry. The relief package also provides federal funding to expand the availability of unemployment insurance (UI) benefits, …
The Families First Coronavirus Response Act (FFCRA) enacted two laws that provide workers with paid leave for reasons related to the coronavirus (COVID-19) pandemic. This enables employers to keep their workers on payroll, while simultaneously ensuring that they are not forced to choose between their paychecks and the public health …
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees or possibly pay a penalty. The evolving coronavirus crisis has raised questions on how employers should determine what a full-time employee is during periods of layoff, furlough, and COVID-19 …
