In mid-January, the IRS issued final regulations that clarify the application of employer shared responsibility provisions under the Affordable Care Act (ACA), as well as nondiscrimination rules, to Health Reimbursement Arrangements (HRAs). The regulations also address Individual Coverage Health Reimbursement Arrangements (ICHRAs). These accounts allow employers...
The Consolidated Appropriations Act (CAA) includes a wide variety of provisions that address the ongoing economic hardships caused by the COVID-19 pandemic. There are so many provisions, in fact, that you may find it challenging to keep track of everything pertinent to your organization. One example...
More and more employers have established 360-degree performance feedback programs to give themselves a broader perspective on how well employees are performing and interacting. Under this model, an employee is evaluated by not only his or her supervisor but also direct reports (if applicable), peers,...
By now you have likely heard and read much about the Consolidated Appropriations Act (CAA). Among its primary purposes, of course, is to provide much-needed relief to individuals and businesses still struggling during the COVID-19 pandemic. A couple of the law’s most talked-about features are...
Many organizations still have employees working remotely during the pandemic, but this is not feasible in every industry. If you are running a fully or partially staffed office or facility, you may be wondering whether you are legally allowed to require on-site workers to prove...
Private sector employers have been retreating from the defined benefit (DB) pension model of retirement plans for decades. This is largely motivated by a desire to 'de-risk' the organization from an uncertain, long-term financial obligation. The COVID-19 pandemic also has caused many sponsors of DB...
Every employer’s greatest strength lies in its people. You can have the most advanced technology, the best researched strategic plans, and the most perfectly nuanced messaging yet still come up short without strong leaders and competent employees. Where do great leaders come from? Ideally, you develop...
Many employers, particularly large companies, pride themselves on being transparent about how and with whom they do business. The term ‘transparency,’ however, is not limited to this widely discussed and debated topic. It also applies to group health plans. More specifically, ‘transparency in coverage’ refers to...
In response to the COVID-19 pandemic, the federal government enacted legislation that includes deferral of the employer’s portion of Social Security tax. The IRS then significantly revised Form 941-X, ‘Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund,’ to allow for adjustments and corrections...
The IRS recently released 2021 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including those related to many popular fringe benefits. Here are some highlights to be aware of: Health Flexible Spending Accounts (FSAs): For 2021, the dollar limit on employee salary reduction contributions...