McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders.
Did you know that qualified retirement plans may now allow a participant with a terminal illness to receive distributions from their retirement accounts without incurring the usual 10% penalty? The employer will need to amend…
McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders.
Did you know that group health plans are required to submit a gag clause prohibition compliance attestation to the Departments of Labor, Health and Human Services, and Treasury prior to December 31, 2023? The annual…
McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders.
Did you know that an employer must issue an updated summary plan description (“SPD”) at least every five (5) years that contains all recent amendments? If there were no amendments to the SPD, then the…
McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders. This is the first in the series.
Did you know that if you withhold premium payments pre-tax from employee wages, you must have a cafeteria plan (also called 125 plan)? If you do not have…
The Consolidated Appropriations Act of 2023 (“Act”) was passed by Congress in late December 2022 and signed by President Biden on December 29, 2022. The Act, a $1.7 trillion dollar spending bill, contains provisions which modify the laws applicable to welfare benefit plans and retirement benefit plans. Below is a high-level list of the provisions…
A recently published FAQ prepared by the Departments of Labor, Health and Human Services and Treasury answers frequently asked questions regarding vaccine premium differentials and HIPAA nondiscrimination rules, as well as the cost shares for vaccine boosters.
Vaccine Premium Differentials
ERISA and other regulations prohibit plans “from discriminating against participants, beneficiaries, and enrollees in eligibility,…
On May 18, 2021, the IRS issued the long- awaited guidance on the COBRA subsidy and premium assistance credit available under the American Rescue Plan Act of 2021 through eighty-six questions and answers. The Notice addresses eligibility, reduction in hours, involuntary termination of employment, coverage eligible for premium assistance, beginning and end of the premium…
On May 10, 2021 the U.S. Department of Health and Human Services (HHS) announced that Section 1557 of the Affordable Care Act and Title IX’s prohibitions on discrimination based on sex include discrimination on the basis of sexual orientation and gender identity. “Research shows that one quarter of LGBTQ people who faced discrimination postponed or…
On Thursday April 14, 2021, the U.S. Department of Labor announced guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best practices for maintaining cybersecurity. This is the first time the Department has issued guidance on cybersecurity for employee benefit plans.
The guidance includes tips for plan sponsors and fiduciaries in selecting…
The Department of Labor recently issued FAQs addressing basic questions regarding the American Rescue Plan Act’s requirement that employers and health plans subsidize COBRA between April 1, 2021 and September 30, 2021 for assistance eligible individuals. In addition, the Department issued model notices which are required to be provided to certain former employees. The General…
