On December 27, 2020, President Trump signed into law new economic relief called the Consolidated Appropriations Act 2021. Provisions in the relief directly affect healthcare and dependent care FSAs.

November 19, 2020

Each year in the United States, about 135,000 children join their forever families through adoption. However, adoption can be an expensive process. To create a family-friendly environment and maintain a competitive benefits package, employers can offer adoption assistance to their employees. Adoption benefits can be low cost and provide a high impact.

November 19, 2020

Due to COVID-related interruptions in medical care this year, it’s likely been a struggle to maximize your FSA dollars. You can use FSA funds to pay for things like medical expenses, doctor visit copays, vision expenses, and prescriptions. But keep in mind that FSA dollars have an expiration date. If you don’t use your funds before the end of the year, you may lose them.

November 19, 2020

COBRA administration is complex, especially with the passage of temporary changes due to the COVID-19 pandemic. Many employers have struggled with the practical problems created by the various timeframe extensions. A common question we are hearing is, “When can employers terminate COBRA coverage during the Outbreak Period?” Without clear guidance, the best approach is to look at how the employer treats COBRA beneficiaries during the non-pandemic election period, and during the late payment grace period.

November 19, 2020

Chard Snyder continues to focus on compliance of the pre-tax benefits we administer with 2020 legislation and agency guidance. Chard Snyder will amend all relevant plan documents for the permanent changes related to the indexed carryover, OTC changes that remove the ACA prescription rules, and HSA deductible exceptions for plans that offer telehealth through their medical coverage. Plan amendments for these permanent changes necessitated by the CARES Act must be implemented in the 2020 plan year with a signed amendment in order to be effective to your current plan. 

November 19, 2020

With much yet to be determined regarding COVID-related temporary changes and pending legislation, there continue to be outstanding questions surrounding the use of dollars allocated to Dependent Care Flexible Spending Accounts (DCFSA). Employers and participants are left to wonder how to use remaining DCFSA funds allocated for 2019 or elected in 2020, and whether to elect or make contributions in the 2021 plan year. Here’s what we know.

November 19, 2020

Plan sponsors should be aware of the imminent end (February 28, 2021) to the relief provided under the IRS/DOL Joint Notice extending certain timeframes and start planning accordingly.

October 27, 2020

The IRS has announced new qualified benefit plan limits for 2021. You can also find these and historical qualified benefit plan limits in this handy reference guide.

August 31, 2020

Earlier this year, the IRS provided increased flexibility allowing for mid-year changes to FSAs and other benefit plans due to the COVID-19 crisis. Previously, mid-year plan changes were only allowed following a qualifying life event such as marriage or the birth of a child. Now a qualifying event may not be necessary, but there is one caveat: FSA mid-year changes are only available if an employer allows them.

August 31, 2020

Plan renewal season is upon us and we’re still in the COVID-19 Outbreak Period (OP). The federal government has expanded COBRA election opportunities and employers should understand these provisions, especially if they are changing COBRA administrators or medical carriers as part of their benefit plan renewal process.