Month: May 2020
IRS Releases 2021 HSA Contribution Limits and HDHP Deductible and Out-of-Pocket Limits
In Rev. Proc. 2020-32, the IRS released the inflation adjusted amounts for 2020 relevant to HSAs and high deductible health plans (HDHPs). The table below summarizes those adjustments and other applicable limits.
2021... Find out more »
Carrier Premium Credits and ERISA Fiduciary Obligations
Due to COVID-19 and state and local stay-at-home orders, utilization of group medical and dental insurance benefits is down. As a result, some carriers recently notified employers that they will be issued premium credits. When asking how these premium credits should be treated by the employer, we... Find out more »
IRS Relaxes Election Change, Other Rules for Cafeteria Plans and FSAs
As the country continues to feel the impact of the COVID-19 National Emergency declared by President Trump on March 13, 2020, the IRS has provided some much-needed guidance and relief for employees. On May 12, 2020, the IRS issued Notices 2020-29 and 2020-33, which, among other things,... Find out more »
Employer Insurance Premium Payment Grace Periods & Premiums Returned to Employers Inadvertent ERISA Issues
During this pandemic, many employers are having to curtail operations and are going through the difficult process of finding cost-saving measures because of the sudden reduction in revenue caused by the various COVID-19 related state and local government orders.
Many carriers are allowing, and... Find out more »
Alera Group Report Breaks Down COVID-19’s Impact on 10 Hard Hit Industries
Report Provides Unique Perspective from Both Property & Casualty and Employee Benefits Experts
Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, today released an extensive report detailing the effects of COVID-19 on 10 sectors... Find out more »
