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IRS and DOL Provide Relief from Certain Time Deadlines for Participants & Health Plan Sponsors
April 30, 2020
Recognizing the impact of the COVID-19 pandemic, the Department of Labor and the Department of the Treasury have issued Notice 2020-01, which extends certain time frames affecting a participant's right to elect continuation of group health coverage under COBRA, pay premiums for COBRA continuation coverage, submit claims for coverage, and dispute denials of claims for benefits. The guidance also extends the period of time that a group health plan sponsor or administrator has to provide a COBRA election notice.
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Employee Benefits Eligible as “Payroll” for Small Business Payroll Protection Program Loans
April 16, 2020
The federal Small Business Administration (SBA) has issued guidance (FAQs) on Payroll Protection Program (PPP) loans available to small businesses during the coronavirus pandemic. Businesses with no more than 500 employees can apply for these loans if certain conditions are met.
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Updated SIGIS List of HSA- and FSA-Eligible Over-the-Counter Expenses Released
April 16, 2020
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) permanently reinstated coverage of over-the-counter (OTC) drugs and medicines as eligible for reimbursement from Health FSAs and HSAs without the need for a prescription. Menstrual care products may also now be purchased or reimbursed through these plans.
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Webinar with Q&A: COVID-19 and Its Impact on Health Plans, HSAs, and Cafeteria Plans
April 16, 2020
Watch Chard Snyder's webinar featuring Darcy Hitesman, an Employee Benefits Attorney, to learn about "COVID-19 and Its Impact on Health Plans, HSAs, and Cafeteria Plans."
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DOL Issues New Guidance on Families First Coronavirus Response Act (FFCRA)
March 30, 2020
On Friday, March 27, the U.S. Department of Labor (DOL) issued further guidance on the FFCRA, including the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act.
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Coronavirus Aid, Relief & Economic Security (CARES) Act
March 30, 2020
On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act to aid businesses, workers, and the U.S. healthcare system in dealing with the coronavirus pandemic.
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HSA Contribution Deadline Extended to July 15, 2020
March 25, 2020
The IRS updated their Filing & Payment Deadline FAQs, confirming that HSA (as well as IRA and certain retirement plan) contributions otherwise due by April 15, 2020, can be made as late as July 15, 2020.
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IRS Provides Guidance on COVID-19 Testing Coverage, HSAs & Associated HDHPs
March 12, 2020
On Wednesday, March 11, the IRS issued Notice 2020-15 allowing HSA-qualified health plans to cover testing and treatment of the coronavirus.
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Ask Penny: What do I need to know about filing taxes if I have an HSA?
February 27, 2020
There's no "one-size-fits-all" when it comes to preparing taxes, but contributing to a Health Savings Account (HSA) won’t add much complexity to your tax situation. Tracking down the right forms is the best place to start.
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From the Compliance Manager: HIPAA Best Practices
February 27, 2020
In light of the security and privacy incidences we hear about in the news on a daily basis, it seems to be a good time to highlight HIPAA in this issue of Compliance Watch. It is more critical than it ever to take protection of data seriously, going beyond awareness to taking active measures.