Extension of Form 5500 Deadline
The IRS has announced that ERISA pension and welfare benefit plans with a Form 5500 filing deadline falling on or after April 1, 2020 and before July 15, 2020 (whether it is their original deadline or their deadline was previously extended) will now automatically have until July 15, 2020 to file. This is especially helpful for plans with an April 15 extended due date who may not have been able to file due to the COVID-19 pandemic. It is important to note, however, that this extension does not provide any relief for calendar year 2019 plan filings which are initially due on July 31.
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UnitedHealth Group Provides Over $1.5 Billion of Additional Support in Response to COVID-19 Challenges
UnitedHealth Group [NYSE: UNH] is taking additional action to directly support people affected by the COVID-19 pandemic by providing over $1.5 billion of additional support for its customers. These measures build upon the company’s ongoing efforts to address COVID-19 challenges by expanding coverage, supporting the health care system, protecting the health care workforce, and assisting those most affected by the pandemic.
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2021 Inflation Adjusted Amounts for HSAs
The IRS released the inflation adjustments for health savings accounts (HSAs) and their accompanying high deductible health plans (HDHPs) effective for calendar year 2021. Most limits increased from 2020 amounts.
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New York Enacts Paid Sick Leave Beyond the Pandemic Emergency
On March 18, 2020 Governor Cuomo signed legislation implementing COVID-19 emergency sick leave benefits for New York employees that remain in effect through any COVID-19 mandatory isolation or quarantine order by the State, New York State Department of Health, local Board of Health, or other authorized government. On April 3, 2020 Governor Cuomo signed legislation amending New York labor law (the “Act”) to create a statewide sick leave benefit, unrelated to COVID-19, that will take effect January 1, 2021.
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Annual Out-of-Pocket Maximum Adjustments Announced for 2021
On May 8, 2020, the Department of Health and Human Services (“HHS”) published its Annual Notice of Benefit and Payment Parameters for 2021. This guidance is a final rule that addresses certain provisions of the Affordable Care
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IRS Issues Relief for Cafeteria Plans in Response to COVID-19
On May 12, 2020, in response to the COVID-19 pandemic, the Internal Revenue Service (“IRS”) issued two notices, Notice 2020-29 and Notice 2020-33, providing welcome relief and guidance to employers sponsoring Section 125 cafeteria plans (“Section 125 plans”), health flexible spending accounts (“health FSAs”), dependent care assistance programs (“DCAPs”), and qualified high deductible health plans (“HDHPs”).
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Notice of Special COVID-19 Dental and Vision Enrollment Opportunity
To assist our members in accessing care in light of the COVID-19 pandemic, UnitedHealthcare is providing its fully-insured dental and vision plan customers with a one-time Special COVID-19 Dental and Vision Enrollment Opportunity (“Special Enrollment Opportunity”) to enroll employees who previously decided not to enroll in coverage. The opportunity will be limited to those employees who previously waived or did not elect coverage.
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New Guidance Offers Relief and Extends Deadlines for Benefit Plans
The Department of Labor’s Employee Benefit Security Administration (EBSA), along with the Treasury Department (collectively, “the Departments”), issued several pieces of guidance over the last week affecting employer-sponsored benefit programs.
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Paid Family Leave’s Effect on Employers | Employer’s Role in New York Paid Family Leave
New York’s Paid Family Leave Benefits Law, or PFL, takes effect on January 1, 2018. Benefit changes evoke questions and concerns from employees and employers alike. As an employer, it’s imperative that you have an understanding of the effects this law will have on you and your associates. Now is the perfect time to contact a health insurance broker regarding your small business health insurance needs.
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Care Connect – Winding Down Operations
The risk adjustment program was designed with good intentions. Unfortunately, as we often see, good intentions do not always translate into good policy. The risk adjustment program was designed to prevent insurance carriers from creating an adverse selection by targeting only the healthiest populations. In an effort to stabilize any possible adverse selection, the Centers for Medicare and Medicaid formulated a scoring system based on enrollee demographics and medical diagnoses.
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Paid Family Leave – What you need to know.
Starting in January 2018, Paid Family Leave (PFL) will take effect for New Yorkers. Generally, employees at private sector organizations with at least one employee (who currently have NY statutory disability insurance, commonly referred to as DBL) will be required to receive PFL coverage. PFL coverage allows employees to take paid time off for certain qualifying events while their job and health insurance are protected. PFL will be a mandatory rider added to the DBL policy.
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