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 …
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 coronavirus pandemic has forced employers to reimagine how they conduct business now and in the future. With many companies extending telework opportunities and seeking ways to limit contact in the workplace, employers are beginning to plan for virtual open enrollment. Businesses have and will continue to face adjustments to …
As healthcare spending escalates, many organizations are looking to design innovative programs that curb costs without sacrificing overall employee care and satisfaction. One cost-shifting strategy gaining popularity amongst employers is the reference-based pricing (RBP) model. How RBP Works RBP works by setting spending limits on certain procedures or services — …
As the scope of the coronavirus pandemic continues to expand, Aetna continues to show its commitment to help support and protect its members. The carrier is mindful of the challenges their small business customers and employees have had to face, which has led to the initiative to again extend and …
As the current pandemic continues to raise health concerns, many health insurance carriers have taken the initiative to ensure members have continued coverage for and access to COVID-19 related testing and treatment. For instance, Cigna announced they have extended their previously announced support for customers, by implementing the following COVID-19 …
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, …
In light of the current COVID-19 pandemic, employees have the opportunity to take advantage of the loosened requirements regarding how they can spend their health savings account (HSA) dollars. Employees can now utilize their HSA dollars to pay for telehealth services, over-the-counter (OTC) medications, feminine hygiene products and more. Many …
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 …
During this unprecedented time, employers are looking for ways to provide a sense of relief to their employees. We’ve outlined items employers can share with workers to assist them in light of the COVID-19 crisis. Relief due to Legislation & Carrier Action Updates to new legislation continue to be released …
CMS Issues FAQ’s on Essential Health Benefit Coverage & the Coronavirus To remove barriers and financial disincentives to COVID-19 diagnosis and treatment, the Centers for Medicare & Medicaid Services (CMS) recently issued frequently asked questions (FAQ’s) on essential health benefit (EHB) coverage. EHB is a core set of items and …
