COVID-19 Relief and Guidance for Employee Benefit Plans: Understanding Extended Deadlines
On May 4, the Department of Labor, Treasury Department and Internal Revenue Service issued joint rulings that extend various deadlines during the COVID-19 state of emergency. According to the DOL, EBSA Disaster Relief Notice 2020-01, “extends certain time frames affecting participants’ rights to healthcare coverage, portability, and continuation of group health plan coverage under COBRA, and […]
Read MoreIRS allows mid-year changes to FSA, DCA & Cafeteria Plans for 2020
On May 12, 2020, the IRS issued guidance that allows employers to amend their plan to allow the following: Enrollment changes, including new elections and election changes, without a qualified event. Increased time to spend Flexible Spending Accounts (FSA) and Dependent Care Flexible Spending Accounts (DCA) balances for plans ending in 2020 or plans that […]
Read MoreMay 15 COVID-19 Update: A message from our CEO
Hi everyone! I trust you have had a great week and that you are staying safe and healthy! Trust me, I know it is challenging working from home day in and day out. I lose track of days and spend more time on Zoom meetings and webinars than ever! I don’t know about you but […]
Read MoreMay 1 COVID-19 Update: A message from our CEO
Hello team- We continue to monitor the affects of COVID-19 on our business. We certainly have our challenges when it comes to adapting to this new normal just like everyone else, but we are encouraged by the fact that we are progressing through this better than expected. Our attrition rate remains below normal and our […]
Read MorePCORI Fees have been extended to September 30, 2029
The signing of the Further Consolidated Appropriations Act at the close of 2019 provides an extension of the Affordable Care Act’s (ACA) Patient-Centered Outcomes Research Institute (PCORI) fees through September 20, 2029. The ACA imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the PCORI. […]
Read MoreApril 24 COVID-19 Update: A message from our CEO
Hello everyone- Hope you are doing well. We continue to strategically monitor the impacts of COVID-19 to our business. Call and claims volumes are down; industry experts are forecasting these volumes will return to normal in mid-June. We are happy to report that client retention for May is higher than forecasted. We continue to monitor […]
Read MoreApril 17 COVID-19 Update: A message from our CEO
Hello team and happy Friday- We have officially been working from home since March 19- meaning we are completing our forth (or more) week of self-isolation as a company. I know that it hasn’t been easy for any of us but we, as a company, are doing a tremendous job of keeping the wheels turning […]
Read MoreFamilies First Coronavirus Repose Act (FFCRA) for Employer Paid Leave
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. Watch Our Explainer Video Under the FFCRA, an employee qualifies for paid sick time if the employee is unable to work (or unable to […]
Read MoreTips for using your Difference Card during the COVID-19 outbreak
FSA UPDATE: OTC drugs and medicines are now eligible for reimbursement without a prescription OTC drugs and medicines are now eligible for reimbursement from your FSA Account without a prescription. In addition, menstrual care products are now considered qualified medical expenses. These changes are effective for purchases made after December 31, 2019. If you previously […]
Read MoreApril 9 COVID-19 Update: A message from our CEO
Hello team- Thank you to everyone that provided feedback and comments through our Work from Home Survey last Friday. We have begun sorting through the results and we happy to see that the majority of you have a optimistic view of working from home. Many of you are grateful that your commute is non-existent and are […]
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