Compliance ✔- ARPA COBRA Subsidy (Premium Assistance)
The IRS issued Notice 2021-31 to give instructions and clarification on the COBRA subsidy (“premium assistance”) under the American Rescue Plan Act (ARPA). The subsidies are funded through a payroll tax credit and cover an individual’s cost of COBRA...
Compliance ✔- Taxability of Dependent Care Carryover
The IRS issued Notice 2021-26 to address the tax treatment of dependent care benefits provided through a Section 125 Cafeteria Plan for tax years ending in 2021 and 2022. The IRS clarified that amounts attributable to carryover and extended grace period relief for a...
Compliance ✔- 2022 Limits: ACA OOP Max and HSA/HDHP
The Affordable Care Act (ACA) requires non-grandfathered plans to comply with an out-of-pocket maximum on essential health benefits (EHB). The out-of-pocket maximum is updated annually based on the percent increase in average premiums per person for health insurance...
Compliance ✔- FFCRA (& Vaccination) Leave Tax Credits
The IRS has released new resources explaining the tax credits available for employers who opt to provide paid family leave and paid sick leave under the Families First Coronavirus Response Act (FFCRA) and the American Rescue Plan Act (ARPA) through Sept. 30, 2021. The...