The Internal Revenue Service has released Rev. Proc. 2024-25 announcing the inflation-adjusted limits for high deductible health plans (HDHPs) and health savings accounts (HSAs) in 2025. The updated 2025 limits are as...more
High deductible health plan (“HDHP”) sponsors take note: the Continuing Appropriations Act, 2023 (“CAA23”) temporarily extends the flexibility for HDHPs to provide pre-deductible coverage of telehealth services without...more
2/6/2023
/ CARES Act ,
Compensation & Benefits ,
Consolidated Appropriations Act (CAA) ,
Employee Benefits ,
HDHPs ,
Health Care Providers ,
Health Insurance ,
HSA ,
Human Resources Professionals ,
Telehealth ,
Telemedicine
As we approach our third new year since the first reported cases of COVID-19, related relief may seem like old news. Although much of the government-sponsored pandemic relief has expired, there are aspects that remain germane...more
With a new year comes new requirements for group health plans (GHPs) and insurers, and this legal update summarizes two new developments with immediate compliance implications. First, the tri-agencies (DOL, CMS, and Treasury)...more
Since 2015, the Affordable Care Act (“ACA”) has required employers and insurers to annually complete, file with the Internal Revenue Service (“IRS”) and distribute to employees and other covered individuals information about...more
Effective October 23, 2020, the Secretary of the Department of Health and Human Services (HHS) has renewed the determination that a public health emergency relating to COVID-19 exists. Each renewed determination lasts for 90...more
After nearly 18 years, the Department of Labor (“DOL”) issued a new, voluntary safe harbor for retirement plan administrators who want to furnish Employee Retirement Income Security Act (“ERISA”) required notices and...more
Originally posted on March 27, 2020. This post has been updated to reflect guidance published by the Internal Revenue Service (IRS) on May 4, 202...more
The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) signed into law on March 27 by President Trump provides some welcome funding relief for employers who sponsor single-employer defined benefit pension...more
Congress has enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the third major federal piece of legislation responding to the COVID-19 pandemic. The CARES Act follows the enactment of the...more
4/3/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Group Health Plans ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
Health Insurance ,
Health Savings Accounts ,
New Rules ,
Relief Measures ,
Student Loans
The Coronavirus Aid, Relief, and Economic Security Act (the ‘‘CARES Act’’) was passed into law March 27, 2020. The CARES Act provides a temporary waiver of required minimum distribution (“RMD”) rules for certain retirement...more
The Coronavirus Aid, Relief, and Economic Security Act (the ‘‘CARES Act’’) was passed into law earlier today. The CARES Act provides additional flexibility for participants affected by the coronavirus (COVID-19) to (1)...more
The United States Government Accountability Office (the “GAO”) has made public its January 28, 2020, report to Congress on the oversight of executive retirement plans by the Internal Revenue Service (the “IRS”) and the U.S....more
3/9/2020
/ Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
GAO ,
IRS ,
Pensions ,
Reporting Requirements ,
Retirement Plan ,
Tax Exempt Entities ,
Tax Qualified Plans ,
U.S. Treasury
The year-end federal spending bill, the Further Consolidated Appropriations Act, 2020 (“FCAA”), was signed into law on December 20, 2019. Although the media spotlight has focused primarily on provisions affecting retirement...more
1/17/2020
/ Affordable Care Act ,
Cadillac Tax ,
Collective Bargaining ,
Employee Benefits ,
Employer Group Health Plans ,
Excise Tax ,
Health Insurance ,
Healthcare Reform ,
Individual Mandate ,
Tax Cuts and Jobs Act ,
Unconstitutional Condition
The IRS issued Revenue Procedure 2019-44 today that provides the 2020 cost-of-living inflation adjustments for certain health and welfare benefit plans. Some of these amounts have been previously released by the IRS. Here are...more
If you use union employees in your projects, you may contribute to a multiemployer pension plan—perhaps a few cents or few dollars per hour worked. However, some employers are surprised to learn they could be assessed with...more
9/11/2019
/ Collective Bargaining Agreements (CBA) ,
Construction Industry ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Multi-Employer Pensions ,
PBGC ,
Pensions ,
Retirement Plan ,
Taft-Hartley Act ,
Unions ,
Withdrawal Liability