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The IRS recently released cost of living adjustments for 2021 under various provisions of the Internal Revenue Code (the Code). Some of these adjustments may affect your employee benefit plans. Cafeteria Plans – Health Flexible Spending Arrangements For plan years beginning in 2021, the dollar limitation under Code Section 125(i) for voluntary employee salary reductions for contributions to health flexible spending arrangements (heal...Read More
While the country is reeling from more than 130,000 COVID-19 deaths and the most significant recession since the Great Depression, several Republican-led states and the Justice Department are making the case for invalidating the Affordable Care Act (ACA), taking health insurance away from 27 million Americans and leaving at least 54 million with preexisting health conditions potentially uninsurable. If the case before the Supreme Court — Ca...Read More
Employees have an extended timeframe to, in part, elect COBRA, make COBRA payments, add dependents, and appeal denials of benefits. As the timeframe may extend beyond the current plan year, in some cases with coverage going into effect retroactively for many months, there are concerns about what gaps in insurance coverage there could be. This may particularly be an issue with stop loss insurance. Employers must disregard the Outbreak Period...Read More
On September 17, 2020, California Governor Newsom signed Senate Bill 1159 into law. The new state law, which has an immediate effect, applies if an employee in California has a COVID-19-related illness during the period beginning March 19, 2020 and ending December 31, 2022. During this period, the employee’s COVID-19-related illness is presumed to arise out of and in the course of employment and will be covered by the state workers’ compensation syste...Read More
HRIS is the technological solution of choice that organizations and payroll professionals use to manage, organize, and automate employee benefits and payroll. The next generation HRIS solution by Davidow Financial & Insurance Services Inc.is an industry leading and the most comprehensive software prepared and brought to you by their expert service team. Employee benefit programs and payroll can be a complicated and tedious process considering ...Read More