Earlier this week, the IRS issued Notice 2021-31 which provides some much sought after guidance on the new COBRA subsidy in the form of FAQs. As part of this new guidance, the IRS provided some clarity on the definition of “involuntary termination” for purposes of eligibility for the subsidy. The guidance emphasizes the determination of an ...
The IRS released its annual inflation adjustment for Health Savings Accounts (HSAs) for 2022, the 2022 minimum deductible and maximum out-of-pocket limits associated with a high deductible health plan (“HDHP”), as well as the excepted benefit HRAs (EBHRAs) maximum for plan years beginning in 2022. For those already planning for next year ...
As discussed in our March blog post, the American Rescue Plan Act allowed employers with a qualified dependent care assistance program (“DCAP”) to increase the DCAP flexible spending limit in 2021 from $5,000 to $10,500. DCAP participants also received relief from the Consolidated Appropriations Act of 2021, to carry over unused DCAP ...
Most of the concentration in the employee benefits world over the past year or so has been dedicated to getting up to speed on newly passed legislation, much of it COVID related, and all of the subsequently issued administrative guidance. But with all of the changes that have occurred in that time, compliance issues and corrections have remained a ...