Stimulus Bill Includes Temporary Special Rules for FSAs

Stimulus Bill Includes Temporary Special Rules for FSAs

On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 into law. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs) that give employees additional time to use these funds. Extended Periods Because of the COVID-19 pandemic, employees may be more likely to have unused amounts in health…

Stimulus Bill Extends FFCRA Tax Credits but Not Leave Mandate

Stimulus Bill Extends FFCRA Tax Credits but Not Leave Mandate

An appropriations bill, which was signed into law on Dec. 27, 2020, does not extend the leave mandates created by the Emergency Family and Medical Leave Expansion Act (EFMLA) and the Emergency Paid Sick Leave Act (EPSLA), which expire on Dec. 31, 2020. As a result, the requirement for employers to provide employee paid sick leave and expanded…

Success Story: Practicing Mindfulness & 40 Pounds Down!

Success Story: Practicing Mindfulness & 40 Pounds Down!

As health coaches, we often encourage people to chase good health through a holistic approach. For Pam Verbarg, Executive Director for The Arc of Greater Boone County, she sought out and engaged in a personal health journey and not only lost 40 pounds in less than a year, but also dropped her A1C level, reduced…

FSA Limit will Remain the Same for 2021

FSA Limit will Remain the Same for 2021

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. On Oct. 27, 2020, the IRS released Revenue Procedure 2020-45 (Rev. Proc. 20-45), which announced that the health FSA…

Medicare Part D Notices Are Due Before Oct. 15, 2020

Medicare Part D Notices Are Due Before Oct. 15, 2020

Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2020—the start…