Author Blog Post Archive
The Consolidated Appropriations Act of 2021 (CAA) added a requirement for group health plans and health insurance issuers to provide certain information about prescription drug and health care costs. The deadline for first year reporting (2020) was originally December 27, 2021. However, it was subsequently extended to December 27, 2022 for calendar years 2020 and […]
The Consolidated Appropriations Act of 2021 (CAA) added a requirement for entities rendering brokerage or consulting services to ERISA-covered group health plans to disclose in writing to plan fiduciaries all direct and indirect compensation received for providing services to the plan. Plan fiduciaries must obtain and review this compensation information before entering into the arrangement […]
HSA Limits for 2023 IRS Revenue Procedure 2022-24 updated the limits for qualified high deductible health plans (QHDHPs) for plan years beginning in 2023 as well as the 2023 calendar year health savings account (HSA) contribution limits, as set forth below: For non-grandfathered health plans that are not QHDHPs, the out-of-pocket maximums for plan years […]
Section 132(f) of the Internal Revenue Code allows employers to provide certain tax-favored commuter benefits, a valuable fringe benefit for employees in light of the current high gas prices. This issue of the Benefit Minute describes these qualified transportation programs and provides related compliance reminders.
Maryland recently enacted a paid family and medical leave (PFML) program, joining several other states and the District of Columbia. The Time to Care Act (Act) became law when the state legislature overrode the Governor’s veto of the Act. The Governor indicated that the Act was supported by no actuarial analysis and no viable plan […]
This issue provides a recap of some recent regulatory activity.
Health care flexible spending accounts (HCFSAs) are a valued employee benefit, but create administrative and compliance responsibilities for employers and their third party administrators. Permitted changes to how HCFSAs operate made in response to the COVID-19 pandemic added to these responsibilities. This issue of the Benefit Minute summarizes current compliance considerations for HCFSAs.
On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law. The $1.9 trillion stimulus law includes several welfare and fringe benefit plan provisions. The information outlined below is subject to clarification as the government agencies issue guidance to implement ARPA.
Employers that sponsor welfare benefit plans must provide a wide range of notices and disclosures to employees and plan participants. These notices are required by the Employee Retirement Income Security Act (ERISA), the Affordable Care Act (ACA), the Health Insurance Portability and Accountability Act (HIPAA) and the Americans with Disabilities Act (ADA). This Benefit Minute […]
