On December 19, 2019, Congress passed the Further Consolidated Appropriations Act of 2020 (the Act), which the President signed into law shortly thereafter. This year-end spending bill included the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE…
On September 23, 2019, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) published final regulations that modify the hardship distribution rules for profit sharing, 401(k), 403(b), and eligible governmental 457(b) plans. The final hardship distribution regulations…
A Health Reimbursement Account (“HRA”) is an employer’s account. The HRA reimburses an employee for medical expenses and/or health insurance premiums. The employer contributes a fixed amount per period for each employee who participates in the HRA. Unused amounts can…
On June 21, 2018, the US Department of Labor (DOL or the Department) published its final rule, amending the definition of “employer” under section 3(5) of the Employee Retirement Income Security Act (ERISA) to allow for the establishment of group…
Just a quick reminder to those who sponsor self-insured plans! The PCORI Fee Payments are due by July 31. Employers currently relaxing after fulfilling year-end and first-quarter compliance requirements may be inclined to continue doing so during the summer months…
As health care costs increase, employers have been exploring new types of health coverage options, one of which is reference-based pricing (RBP). This method typically does not involve a traditional insurance carrier or provider network negotiating covered services for the…
Generally, ERISA covers any plan, fund, or program that provides sickness, accident, or disability benefits. This would include all short term disability (STD) programs but for an exception that has been made regarding payroll practices. To determine whether a plan…
The Department of Labor has issue a proposed rule providing direction for sole proprietors and businesses to set up Association Health Plans (AHPs). This rulemaking stems from President Trump’s October 12, 2017 Executive Order 13813, “Promoting Healthcare Choice and Competition…
Smart Summary for Employers Sub. H.B. 27, containing numerous Workers’ Compensation provisions, became fully effective on 9/29/2017. New provisions alter old rules or create new rules on filing limitations, intoxication and incarceration, attorneys’ fees, firefighters and more. The Ohio Legislature…
It is benefits open enrollment season for many employers, which means that employers will soon be providing employees with a number of notices relating to their benefit plans. The following is a checklist of the notices that are generally required…