compliance
May 13, 2021
IRS Issues Guidance on Taxation of DCAP Carryover Amounts
The IRS recently issued Notice 2021-16 to address the taxation of dependent care benefits, provided through a dependent care assistance program (DCAP) in taxable years ending in 2021 and 2022 due to the application of either the carryover or the extension of a claims period under the Taxpayer ...
May 13, 2021
IRS Issues 2022 HSA and HRA Limits
The IRS issued Revenue Procedure 2021-25 on May 10, 2021, to announce the 2022 inflation adjusted amounts for health savings accounts (HSAs) under Section 223 of the Internal Revenue Code (Code) and the maximum amount that may be made newly available for excepted benefit health reimbursement ...
May 13, 2021
Biden Administration Lowers Costs of the Marketplace Health Plans
The Biden Administration is using its rulemaking authority to lower health care costs for consumers and improve access to health care in connection with health plans sold on the Affordable Care Act’s (ACA) exchanges. Lower cost marketplace plans could serve as a disincentive for employees to ...
April 28, 2021
Employer Tax Credit for Vaccination Leave
The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to ...
April 23, 2021
DOL Guidance on Fiduciary Cybersecurity for Employee Benefit Plans
The U.S. Department of Labor (DOL) recently announced new guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best practices for maintaining cybersecurity. Although much of the guidance is intended to protect retirement benefits, the rules also generally apply ...
April 21, 2021
Benefits Alert | Blue Cross Blue Shield Antitrust Litigation Settlement
On October 16, 2020, a class action legal case involving Blue Cross Blue Shield (BCBS) was settled. At a high level, the core element of the case was the accusation that BCBS was violating antitrust laws by entering into an agreement amongst its various geographic based organizational groups to ...
April 14, 2021
DOL Issues FAQs about COBRA Premium Assistance under the American Rescue Plan Act of 2021
On April 7, 2021, the Department of Labor (DOL), in consultation with the Department of Treasury and the Internal Revenue Service (IRS), issued FAQs written for the benefit of participants and beneficiaries regarding the temporary 100% COBRA Subsidy mandated by the American Plan Rescue Act of ...
April 9, 2021
DOL Issues ARPA COBRA Subsidy Forms
On April 7, 2021, the Department of Labor (DOL) issued the much-awaited COBRA Model Notices required under the American Rescue Plan Act of 2021 (ARPA), implementing the 100% COBRA Subsidy for eligible individuals. In order to assist plan sponsors with implementing the subsidy as required under ...
April 9, 2021
DOL Issues Report on Self-Insured Group Health Plans
The Department of Labor (DOL) recently issued an Annual Report on Self-Insured Group Health Plans. The Affordable Care Act requires the Secretary of Labor to provide Congress with an annual report (Report) containing general information on self-insured employee health benefit plans and ...
April 9, 2021
HHS Issues FAQs on the Consolidated Appropriations Act 2021 | Amendments to the Mental Health Parity and Addiction Equity Act of 2008
April 5, 2021 On April 2, 2021, the Departments of Labor, Treasury and Health and Human Services (the Departments) jointly issued FAQs regarding the amendments to the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) made by the Consolidated Appropriations Act, 2021, enacted ...
