On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (“CAA”) bill including new provisions for Cafeteria … [Read more...]
COBRA in the time of COVID-19
COBRA in the time of COVID-19 COBRA compliance requires extra attention right now. Regulatory agencies have extended certain COBRA deadlines due to the … [Read more...]
IRS provides tax relief with increased flexibility in Cafeteria Plans
To assist with the nation's response to the COVID-19 pandemic, new provisions were released on Tuesday, May 12, 2020, by the IRS to allow Cafeteria Plan … [Read more...]
Coronavirus-related Distributions
The Coronavirus Aid, Relief, and Economic Security (CARES) Act (HR 748) was signed into law on March 27, 2020, providing support to individuals, businesses, and … [Read more...]
Who are qualified individuals?
Below are the guidelines under the CARES Act for "qualified individuals" relating to Coronavirus-related Distributions. “Qualified individuals” include any of … [Read more...]
CARES Act – Special Rules for Retirement Accounts
Section 2202. Tax Favored Withdrawals from Retirement Plans The Coronavirus Aid, Relief, and Economic Security (CARES) Act allows participants to receive up to … [Read more...]
OTC Medication, Menstrual Care Products and Telehealth Now Reimbursable
Over-the-Counter (OTC) Medicines and Menstrual Products The Coronavirus Aid Relief and Security (CARES Act) allows consumers to purchase over the counter (OTC) … [Read more...]
Flex Spending Account, DCAP, HSA, HRA, QSEHRA Election Changes
This article was last updated on 4-2-20 at 11 am. Flex Spending Account (FSA and Limited FSA) Election Changes Here is the most up-to-date information on … [Read more...]
High Deductible Health Plans and Expenses Related to COVID-19
The Internal Revenue Service advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, … [Read more...]
401k Hardship Distribution Changes
The Bipartisan Budget Act of 2018 will modify the way your 401k hardship distributions are handled after January 1, 2019. Plan Amendments will be needed to … [Read more...]