October 11, 2021

On October 6, 2021, the IRS issued Notice 2021-58, which clarifies emergency COBRA extensions enacted due to the COVID pandemic. Notice 2021-58 explains the application of the one-year extension to COBRA continuation coverage premium payments, election, and interaction with the subsidy available under the American Rescue Plan Act (“ARPA”). 

August 26, 2021

Health Savings Accounts (HSAs) are a great way to save for future healthcare costs. You can make tax-free HSA contributions as long as you are covered under a qualified High Deductible Health Plan (HDHP). But whose care can you pay for with tax-free HSA money?   

August 26, 2021

In our current environment of the ongoing pandemic, a flurry of new laws and regulations, and social change, employers face unique challenges in health and wellness benefits management. Employers will be expected to show good-faith compliance, and therefore should consider these top five compliance-related priorities for planning 2022 health, leave, and fringe benefits.

August 26, 2021

In IRS Information Letter 2021-13, the agency recently reiterated the requirement that Flexible Spending Account (FSA) claims paid with a debit card include the required substantiation, containing all of the information normally required for a claim submitted for reimbursement through means such as an online portal or mobile app.

August 26, 2021

In an effort to continually enhance our protection of plan participants’ private information, beginning October 15, 2021 Chard Snyder will no longer accept Savings & Spending Account claim submissions or debit card purchase supporting documentation via email. This change is to help ensure the security of our participants’ personal data. Our priority is the protection of our participants’ private personal and health-related data.

August 26, 2021

Recent legislation has created much-needed flexibility for employers who offer dependent care assistance programs (DCAPs). At the same time, the dependent care tax credit was greatly expanded allowing individuals in 2021 to receive better tax advantages by using the tax credit than contributing to their employer-sponsored dependent care accounts.  This raises the question whether employers should spend effort and planning to increase the DCAP plan limits to the maximum allowable by law.

August 26, 2021

Health Savings Accounts (HSAs) are tax-advantaged savings accounts held by individuals to pay for eligible healthcare expenses covered under a High Deductible Health Plan (HDHP) until their deductible has been met.  The IRS has strict guidelines regarding who is eligible to open and contribute to an HSA.

August 26, 2021

One of the final notices required to be sent by ARPA is to notify eligible COBRA participants that their subsidy will be ending and outline critical information following the subsidy expiration. These expiration notices are required to be sent to subsidy participants between 45-15 days before the subsidy ends.

June 21, 2021

Running a business is never easy. Although most employers are used to dealing with unexpected challenges, no one was prepared for what happened in 2020. The COVID-19 pandemic changed everything. With little warning, employers had to come up with an entirely new way of doing business. Some employers had to drastically reduce their employees’ hours or were forced to go out of business. Millions of individuals lost their jobs.  

June 21, 2021

Enrollment in health insurance and related benefit plans like Flexible Spending Accounts (FSA) typically occurs annually during your company’s open enrollment period. Outside of open enrollment, you can’t make changes to your coverage until the next open enrollment period unless you have a Qualifying Life Event (QLE).