Posts in Benefit Minute

  1. Broker Compensation Disclosures: A Fiduciary Responsibility (Benefit Minute)

    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 […]

  2. Recent Compliance Updates (Benefit Minute)

    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 […]

  3. Recent Supreme Court Decisions Impacting Health & Welfare Plans (Benefit Minute)

    The Supreme Court is wrapping up a busy year with several decisions that potentially impact health and welfare benefit plans.  Two of the prominent cases are described below.

  4. Commuter Benefit Programs – A Way to Address High Gas Prices (Benefit Minute)

    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.

  5. Maryland Passes Paid Family and Medical Leave (Benefit Minute)

    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 […]

  6. First Quarter Compliance Updates (Benefit Minute)

    This issue provides a recap of some recent regulatory activity.

  7. Compliance Reminders for Health Care Flexible Spending Accounts (Benefit Minute)

    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.

  8. OTC Covid Rapid Tests Now Covered by Health Insurance (Benefit Minute)

    The Departments of Labor, HHS and Treasury have issued FAQs that address insurance and group health plan coverage that is required under the FFCRA and the CARES Act for OTC Covid rapid tests. OTC Covid rapid tests are those that can be self-administered and self-read at home without the involvement of a health care provider. […]

  9. Benefit Plan and Payroll Limits for 2022 (Benefit Minute)

    Set forth below are the 2022 and 2021 limitations for qualified plans and other benefit related items.