The Bottom Line Employers should carefully review and prepare for 2022 compliance modifications and new requirements, and should monitor future developments. In particular, the IRS may start more aggressively pursuing ACA penalties and taxes against employers if the good faith transitional Continue Reading
Plan Coverage of At-Home COVID-19 Testing
The Bottom Line Effective January 15, 2022, plan coverage of FDA-approved over-the-counter at-home COVID-19 diagnostic tests is mandatory. Plan sponsors should immediately contact their pharmacy benefit managers to set up mechanisms for direct coverage of at-home tests.If any questions Continue Reading
IRS Provides Much Needed Guidance on COBRA Premium Subsidy
The Bottom Line ARPA’s COBRA subsidy presents a number of complicated administrative issues that employers, plan sponsors and administrators, and insurers alike should consider. In particular, there are a number of nuances to how the Notice may impact plan sponsors.Plan sponsors should consult with Continue Reading
COBRA Changes Under the American Rescue Plan Act of 2021
The Bottom Line The American Rescue Plan Act of 2021 requires employers to provide new or updated notices to qualified individuals about the availability and expiration of newly created COBRA subsidies.Plan sponsors should work with their COBRA administrators and ERISA counsel to understand their Continue Reading
Regulators Clarify COVID-19 Relief Deadline Extension
The Bottom Line The newly issued Notice could be quite difficult to apply in practice for plan sponsors and third party administrators, as it requires a plan sponsor and its third party administrators to track each participant’s or beneficiary’s tolling period from the date he/she became entitled Continue Reading
New York State’s Budget Amends the NY Home Care Worker Wage Parity Law
The Bottom Line The 2020-21 New York state budget bills include significant amendments to the New York Home Care Worker Wage Parity Law, including new rules regarding distributions, certifications and WTPA notices and wage statements, as well as new enforcement provisions for failures to comply Continue Reading
IRS Provides Cafeteria Plans with Flexibility Due To COVID-19
The Bottom Line The IRS is allowing employers to amend their cafeteria plans for the 2020 tax year to permit employees to make new employee benefit elections with respect to their healthcare coverage, health FSAs and dependent care FSAs. Employers should work closely with their ERISA counsel to Continue Reading
Retirement Plans: Regulators Provide Relief from Certain ERISA Requirements During the COVID-19 Crisis
The Bottom Line The Notice provides valuable relief from the DOL’s enforcement of certain requirements under Title I of ERISA. However, the Notice does not affect a participant or beneficiary’s enforcement rights under ERISA.Much of the relief provides that enforcement actions will generally not be Continue Reading
Group Health Plans: Regulators Extend Deadlines During the COVID-19 Crisis
The Bottom Line The Notice provides important guidance and relief for group health plan sponsors and plan participants in light of the COVID-19 pandemic.The regulators have hit the pause button on many of the employee benefit plan timeframes during the period of the COVID-crisis.Since the guidance Continue Reading
COVID-19 and Executive Compensation
The Bottom Line In light of this unprecedented scenario, employers should closely review their executive compensation arrangements and proactively address some of the issues that will undoubtedly arise. The correct method for addressing these complex issues will depend on the employer’s industry, Continue Reading