May 19, 2021
Advance Availability of the Increased Child Tax Credit
The American Rescue Plan Act (ARP) is most notable for the COBRA subsidy but also provides relief for taxpayers with children. The ARP increased the maximum Child Tax Credit (CTC) and also allowed taxpayers to receive an advance of the CTC. For 2021, the CTC is increased to $3,600 for children ...
May 13, 2021
Compliance Recap | April 2021
April was a busy month in the benefits industry, largely due to the temporary 100% COBRA subsidy mandated by the American Plan Rescue Act of 2021 (the ARP). The Departments of Labor, Treasury and Health and Human Services (the Departments) jointly issued FAQs regarding the amendments to the ...
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 ...
May 11, 2021
Advocacy in Action | Anesthesia Bill Assistance
A member contacted The Purple Card® because she received an anesthesia bill showing she was being balanced billed for $900. The member sent a copy of the bill to her Patient Advocate because she wanted to understand why the provider was sending her a bill. The procedure had been pre-authorized ...
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
Is Multitasking Dead or Alive?
Multitasking was once a characteristic touted by savvy workers who claimed to be highly efficient and productive. Women are particularly adept at this skill that requires bouncing from one task to another quickly. An onslaught of articles a few years ago told readers that multitasking ...
April 23, 2021
Telemedicine: Just a Phone Call Away
Prior to the pandemic, the idea of scheduling a virtual doctor appointment was about as novel as online dating was in the late ‘90s. Telemedicine was used by less than 5% of the U.S. population, primarily in the area of mental health with the emergence of new apps like Better Help and Talk ...
April 23, 2021
Virtual Onboarding: Welcome from Afar
In real life (IRL), a good first day at a new job may include donuts in the break room, a slew of in-person introductions and a load of branded company swag (mouse pad, coffee cup and pens). Companies have had to rethink their orientation process due to the increase in new hires starting day ...
