Blog

Read below for insights, ramblings, thoughts and comments on Benefit Advisory Services, HR and Benefit Administration, Regulatory Compliance and Organizational Development.

COBRA

Clarification of IRS Notice 221-31 and COBRA Subsidy Eligibility

On Tuesday May 19, IRS released Notice 2021-31.  This notice provides a series of questions and answers to address many issues that have arisen with respect to COBRA premium assistance available for COBRA continuation coverage under the American Rescue Plan Act (ARP). Generally, the questions and answers apply for purposes of all COBRA continuation coverage…
Read more

IRS Releases 2022 HSA Contribution Amounts and Excepted Benefit HRA Maximum Benefits

The IRS recently issued new 2022 contribution limits for health savings accounts (HSA), which represent the total amount of tax-advantaged dollars that participants can deposit into these accounts. Likewise, the IRS also issued new limits for high-deductible health plans (HDHP) to indicate the total amount individuals and families can expect to spend out-of-pocket on health…
Read more

COBRA

ARPA COBRA Subsidy – When is a Termination of Employment Involuntary?

Content reposted with permission from: The National Law Review and Paul M. Hamburger, co-chair of the Employee Benefits & Executive Compensation Group and head of the Washington, DC law office of Proskauer. The American Rescue Plan Act of 2021 (“ARPA”), includes a 100% COBRA premium subsidy for periods of coverage occurring between April 1 and…
Read more

IRS Extends Time to Make IRA, HSA Contributions and File Forms 1040

On March 29, 2021, the Internal Revenue Service issued Notice 2021-21, which extends tax deadlines for filing Form 1040 series returns and other deadlines to May 17, 2021. The Notice, issued as a result of the ongoing COVID-19 pandemic, follows a prior IRS extension (also to May 17, 2021) of the federal income tax filing…
Read more

Amounts Paid for Certain Personal Protective Equipment Treated as Medical Expenses Announcement

Announcement 2021-7 notifies taxpayers that amounts paid for personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 (COVID-19 PPE) are treated as amounts paid for medical care under § 213(d) of the Internal Revenue Code. Therefore, amounts paid by an…
Read more

American Rescue Plan

The American Rescue Plan Act of 2021

On Wednesday, March 10, 2021, Congress approved the American Rescue Plan Act of 2021 and it was signed into law on March 11th, but what does that mean for COBRA coverage and Dependent Care FSAs? We’ve gathered some key points to help break it down. COBRA Continuation Coverage Subsidizes 100% of premiums for eligible state…
Read more

Winter’s Coming: Managing COVID-19

There have been a variety of changes as we continue to understand and gauge the impact and spread of Coronavirus. We want to post updated information and urge you to pause at this time, assess your policies and practices, determine if there are changes to be made based on what has been working well and…
Read more

IRS Releases 2021 Contribution Limits for FSA and Commuter Accounts

The IRS has released Revenue Procedure 2020-45 announcing contribution limits for 2021. There are no changes to flexible spending account (FSA) and commuter benefits contribution limits for 2021. Medical FSA Contribution amounts will remain $2,750 and Dependent Care (married filing jointly) will remain at $5,000. Commuter monthly contribution amount for both parking and transit will…
Read more

3 Red Flags to Watch Out For When Interviewing Potential Employees

Our VP of Human Resources, Rebecca Dioso contributed to the following article: 3 Red Flags to Watch Out For When Interviewing Potential Employees Always look for people who have read your entire website and have a genuine interest in your industry and company. by Diane Faulkner October 02, 2020 There are a few things you need…
Read more

IRS Releases Guidance on Payroll Tax Deferral

On August 8th, President Trump signed a presidential memorandum directing the Secretary of the Treasury to defer the withholding, deposit, and payment of certain payroll tax obligations. In response to this executive action, the Department of Treasury and Internal Revenue Service issued guidance (Notice 2020-65) concerning the payroll tax deferral (commonly referred to as a…
Read more