Posts in Benefit Minute

  1. Additional COVID Relief in the Consolidated Appropriations Act of 2021 (Benefit Minute)

    On December 27th, President Trump signed the Consolidated Appropriations Act of 2021 (the Act) into law.  The Act funds the federal government for the remainder of the fiscal year and provides additional COVID relief.  This Benefit Minute provides an overview of benefit and payroll provisions in the Act.

  2. Benefit Plan and Payroll Limits for 2021 (Benefit Minute)

    The table below details the 2021 and 2020 limitations for qualified plans and other benefit related items.  

  3. Supreme Court Hears Oral Arguments on Affordable Care Act (Benefit Minute)

    On November 10, the Supreme Court heard oral arguments in the ongoing case of Texas v. California. The litigation centers on whether the individual mandate imposed by the Affordable Care Act (ACA) remains constitutional after elimination of the related tax penalty, and what impact finding it unconstitutional would have on the remainder of the ACA.

  4. Notice & Disclosure Requirements for Welfare Benefit Plans (Benefit Minute)

    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 […]

  5. IRS Extends Deadline to Provide Forms 1095-B and 1095-C (Benefit Alert)

    On October 2, 2020, the IRS issued Notice 2020-76 which provides ACA reporting relief similar to what has been granted in prior years. There are strong indications in the Notice that this will be the last year the relief is given. The IRS had previously requested comments on the relief for furnishing the forms to […]

  6. Preparing for ACA and State-Based Individual Mandate Reporting

    As the end of 2020 approaches, it is time to start preparing for ACA reporting, including reporting to states that are enforcing health insurance individual mandates. 

  7. COVID-19 Updates and Reminders (Benefit Minute)

    This volume of the Benefit Minute provides updates to various regulatory and administrative issues related to coronavirus. 

  8. Reporting and Reconciling FFCRA and CARES Tax Credits (Benefit Minute)

    The Internal Revenue Service has released an updated Form 941 (Employer’s Quarterly Federal Tax Return) to account for Families First Coronavirus Response Act (FFCRA) qualified leave wages and Coronavirus Aid, Relief, and Economic Security Act (CARES) employee retention wages and payroll tax deferrals. The form generally applies for wages paid beginning April 2020. Detail of […]

  9. Employee Benefits Compliance Updates (Benefit Minute)

    HSA Limits for 2021 The limits for qualified high deductible health plans (QHDHPs) and health savings accounts (HSAs) for plan years beginning in 2021 are set forth below. HSA Contribution Limit (individual) – $3,600 HSA Contribution Limit (family) – $7,200 QHDHP Minimum Deductible (individual) – $1,400 QHDHP Minimum Deductible (family) – $2,800 QHDHP Out-of-Pocket Maximum […]