Early open enrollment prep can be an opportunity for retention by putting employee needs first. The job market is still dealing with the after-effects of the COVID-19 pandemic. Workers are taking stock of their circumstances and considering which employment perks matter the most. Specifically, employees are increasingly more concerned about their physical and mental health, […]
Learn MoreForm 5500 Is Due By Aug. 1, 2022 For Calendar Year Plans. The U.S. Department of Labor’s Employee Benefits Security Administration, the IRS and the Pension Benefit Guaranty Corp. previously announced changes to the Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form Annual Return/Report of Employee Benefit Plan, and related instructions, […]
Learn MoreOn April 29, 2022, the IRS released Revenue Procedure 2022-24 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2023.
Learn MoreOn Feb. 18, 2022, President Biden announced an extension of the National Emergency concerning COVID-19, stating that it must continue in effect beyond March 1, 2022. This extension impacts deadline relief related to the following employee benefit plan deadlines: HIPAA time frames—The 30-day period (or 60-day period, if applicable) to request special enrollment. COBRA time […]
Learn MoreIn addition, any changes to a health plan’s benefits for the 2022 plan year should be communicated to plan participants through an updated summary plan description (SPD) or a summary of material modifications (SMM). Health plan sponsors should also confirm that their open enrollment materials contain certain required participant notices, when applicable—for example, the summary […]
Learn MoreWill Remote Workers Affect Open Enrollment? Open enrollment will be here before you know it—and it’ll likely differ than those held in years past, especially for remote employees. Benefit offerings may be changing, and you may be enrolling virtually as a remote employee. As such, it’s essential to come prepared. To avoid last-minute headaches, familiarize […]
Learn MoreNew Direct Portal Makes PPP Forgiveness Easier The Small Business Administration (SBA) recently announced the opening of the Paycheck Protection Program (PPP) Direct Forgiveness Portal, which is intended to simplify applications for loan forgiveness for the smallest PPP borrowers. The PPP, which was created in March 2020 by the $2 trillion Coronavirus Aid, Relief and […]
Learn MoreThe ICHRA provides employers a way to offer health care benefits to employees that do not count toward their taxable wages. The option also provides smaller employers a way to offer insurance without the administrative burden of offering a traditional medical plan.
Learn MoreThe IRS announced the annual limits on deductions for contributions to HSAs allowed to taxpayers in High Deductible Health Plans (HDHP) for 2020.
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