The IRS has added or updated more than 80 answers to questions in its series of FAQs on “COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses.” The changes affect questions in all 13 of the subtopics covered by the FAQs....
The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for drugmaker Pfizer Inc.’s COVID-19 vaccine, developed in partnership with German drugmaker BioNTech. This EUA allows distribution of the vaccine to begin immediately in the...
On Dec. 11, 2020, the Departments of Labor (DOL), Health and Human Services (HHS) and Treasury (Departments) announced a final rule that provides greater flexibility for grandfathered plans under the Affordable Care Act (ACA). A grandfathered plan is a group health...
The IRS recently issued Notice 2020- 76 to: Extend the due date for furnishing forms under Sections 6055 and 6056 for 2020 from Feb. 1, 2021, to March 2, 2021. Provide a final extension of goodfaith transition relief from penalties related to 2020 information...
The BenefitWorks is here to help you with your benefit plans and the legal responsibilities that go along with them! Our clients have access to Client Portals that provide a plethora of HR resources and tools to streamline these tasks. As we all know, open enrollment...
The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. On...
An unintentional phenomenon is on the rise—pandemic fatigue. People are tired of staying at home. People want to be the social creatures they inherently are. People want their “normal” back. This collective fatigue is making some people— consciously or...
Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors...
There are two responsibilities outlined by the Centers for Medicare & Medicaid Services (CMS) that you need to be aware of if you have a group health plan that offers prescription drug coverage: 1.) Providing certain employees with notices about their...
Across industry lines, organizations have become increasingly reliant on workplace technology to conduct key business operations. Whether it be for communication purposes, e-commerce, or data collection and storage, continued technological advancements have helped...
