Some COBRA regulations have changed as part of the government’s response to the COVID-19 National Emergency. The Department of Labor and Internal Revenue Service issued joint regulations on April 29, 2020, providing significant extensions of various deadlines applicable to employee benefit plans, especially group health plans. COBRA regulations are affected as well, including extending the […]
The Department of Homeland Security (DHS) has issued a temporary policy to allow employers to accept expired List B documents when completing the Form I-9 beginning May 1. This I-9 policy is intended to account for the fact that many people are unable to renew their driver’s licenses or state ID cards at this time […]
A Premium Only Plan (POP) is a great way for employers to reduce healthcare costs for their employees. POPs are a type of IRC Section 125 Cafeteria Plan that allows employees to pay for certain health plan premiums using pre-tax dollars. While using pre-tax dollars to pay for health care premiums is a well-known practice, […]
The IRS released Notice 2020-29 and Notice 2020-33 on May 12, 2020 that impact cafeteria plan administration. The BASIC Compliance team is currently reviewing these Notices and will provide more in-depth practical insight in the near future. Because the issued guidance applies to many of the questions we are receiving daily, here are the highlights: […]
On April 9, 2020, the IRS announced filing deadline extensions for certain Form 5500s in an effort to provide relief from the impact of COVID-19. IRS Notice 2020-23 extends the Form 5500 filing deadline for retirement and welfare plans subject to ERISA. Please note that this relief only applies to plans with filing deadlines on […]
Due to the current COVID-19 Pandemic that continues to impact businesses, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020 to provide some assistance to employers and employees being directly affected. We understand that during this time of uncertainty, employers across the nation have been forced […]
DATE: Thu, May 21, 2020 TIME: 2:00 pm ET to 3:30 pm ET Register for the webinar here After registering, you will receive a confirmation email containing information about joining the webinar. Request a recording here if you are unable to attend the live session. This webinar will cover the ERISA compliance requirements for small and […]
DATE: Tue, May 12, 2020 TIME: 2:00 pm ET to 2:30 pm ET Register for the webinar here After registering, you will receive a confirmation email containing information about joining the webinar. Request a recording here if you are unable to attend the live session. Join us for a discussion and demonstration of our proprietary leave […]
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that was signed into law on March 27, 2020 permanently eliminates the ACA-imposed restriction that requires employees to obtain a prescription in order to be reimbursed for non-prescription “Over-The-Counter” drugs and medicines from a Health FSA, HSA, and certain HRA plans. This common sense change […]
The DOL has released rules related to administration of leaves under the Families First Coronavirus Response Act (FFCRA) and answered more common questions on their Questions and Answers page. Below you’ll find FFCRA guidance and some key highlights to keep in mind when administering these leaves. Documentation: Employers may not require more documentation from employees […]
