PCORI Fees BASIC is offering this alert about upcoming fees that apply to self-funded HRA Plans. As you may have heard, the fees payable by health insurers and self-funded plan sponsors to fund the Patient-Centered Outcomes Research Institute (PCORI) were extended on December 20, 2019, as part of the Further Consolidated Appropriations Act of 2020. […]
2021 HSA Limits The IRS has issued Revenue Procedure 2020-32 (2021 HSA limits), which provides the 2021 cost-of-living contribution and coverage adjustments for HSAs, as required under Code Section 223(g). Many items have increased for 2021. Health Savings Accounts 2020 2021 Self-only coverage Self-only coverage annual minimum deductible $1,400 $1,400 Self-only coverage maximum out of […]
DATE: Tue, Jun 09, 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. 1.0 HRCI & SHRM Employee engagement is one of the most […]
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 […]
