Over the last couple of years, COVID created some temporary and potentially permanent changes to employer reporting requirements. As COVID moves from pandemic to endemic, let’s review the status of reporting requirements for 2022. PCORI Fee Change For plan years that end on or after October 1, 2021, and before
During the pandemic, the use of debit and credit cards has soared. A 2021 MarketWatch analysis found that debit card transaction volumes continue to surge, while growth in credit transactions has remained essentially flat. Always a possible addition to tax-advantaged benefit accounts, debit cards have increasingly become a benefits “must
Many employers are experiencing first-hand how hard it has become to attract and retain a great workforce. You may have young, healthy employees who don’t see much benefit in traditional health plans. Other workers may be ineligible for the traditional benefits you offer but still expect some type of assistance.
No, you can’t use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for straight food purchases like meat, produce and dairy. But you can use them for some nutrition-related products and services. To review, tax-advantaged accounts have regulatory restrictions on eligible products and services. The products and services
Just as we thought the pandemic was easing and we could start to recover from job losses, rising oil prices and potential interest rate increases may again affect the job market. Read on to learn about furloughs, layoffs, and COBRA. You’ll also learn about COBRA eligibility, qualifying events, and how
Employers have been helping employees with healthcare costs since employer-sponsored insurance coverage began about 80 years ago. But just as healthcare costs have risen, the costs of insurance and healthcare benefits have increased as well. Small businesses have always found it financially challenging to offer group benefits to their employees.
New preventive care and screening guidelines aimed at reducing out-of-pocket expenses for women, infants, children, and adolescents were recently announced by the Health Resources and Services Administration (HRSA) of the U.S. Dept. of Health and Human Services (HHS) The new guidelines take effect for plans starting in 2023. Under the Affordable
As we welcome a new year, many of us are focused on how we can better ourselves and are making new resolutions. Some are emphasizing physical health, vowing to eat better and exercise more. Others are targeting their financial health, making an effort to spend less and save more. Some
The American Rescue Plan Act (ARPA) expanded the Child Tax Credit (CTC) program in 2021 in response to pandemic-related dependent care challenges. This expansion had a chance to be made permanent. However, as 2021 ended, the legislation containing this provision did not pass. Since the advance payments have ended, qualified
Life expectancy in the U.S. has gone up over the years thanks to a variety of factors. However, longer lifespans are creating a conundrum for many Americans. Millions of people in the workforce find themselves caring for their children and aging parents/relatives at the same time. A Dependent Care Assistance
