February 17, 2021

As we get further into 2021, it is unclear when the COVID-19 national emergency ("Outbreak Period") will end. However, the temporary extension of certain benefits time frames can be no more than one year (ending at the latest on February 28, 2021). Health and benefits professionals and their advisors should be aware of the imminent end to the relief and start planning to rollback processes to regular time frames effective March 1, 2021. 

February 17, 2021

The 2021 Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020. Designed to provide economic relief for victims of the COVID-19 pandemic, the relief provided limited provisions that directly affect limited, health, and dependent care flexible spending accounts (FSAs). Employers have the option to take advantage of any of these non-mandatory provisions, as long as their plan is amended to do so. 

February 17, 2021

The COVID-19 pandemic has economically impacted many families through small business closures and job layoffs. The price of treating COVID-related illness has also negatively affected many Americans. One positive is that those with a health savings account (HSA) or healthcare flexible spending account (FSA) may be able to use these funds to cover COVID-related medical expenses. Here are a few helpful FAQs.

February 17, 2021

January 2021 has already flown by, and a new year means preparing to file new tax returns. Owning a Health Savings Account (HSA) has tax implications, so here’s what HSA account holders, employers, and their advisors need to know to be ready for the upcoming tax season. 

January 28, 2021

It has been a month since President Trump signed into law new economic relief called the Consolidated Appropriations Act (CAA) 2021. The relief contained provisions affecting Health FSAs and Dependent Care FSAs.

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.