Key takeaways of IRS Notice 2020-29 Mid-year cafeteria plan elections permitted in response to COVID-19. Participants may revoke or change existing elections. Revocation of health coverage requires attestation regarding availability of other coverage. Participants who previously declined coverage may elect coverage. Plans can provide an extended period for unused amounts remaining in a flexible spending […]
Cafeteria Plan, Covid-19Employers have been increasingly offering so called ERISA voluntary benefits to their employees. One such benefit is a fixed indemnity offering which pays a set amount regardless of the cost of the service rendered. For example, $50 for each doctor’s office visit regardless of the cost of the visit. These voluntary benefits are generally offered […]
cafeteria plans, fixed indemnity plans, voluntary plansAs a result of the Windsor decision same gender marriages are recognized for Federal tax purposes if the couple is married in states that recognize same gender marriages regardless of where the couple may be domiciled (see ErisaALERT 2013-04). The IRS has issued Notice 2014-1 providing additional guidance relating to the impact of the Windsor […]
Cafeteria Plan, DOMA, domestic partner, FSAThe IRS issued Notice 2012-40 regarding the $2,500 flexible spending account (FSA) limit enacted by Health Care Reform Bottom Line: The limit applies to plan years beginning after December 31, 2012 Plans may adopt amendments at any time through the end of 2014 For plans with a grace period, amounts carried over will not apply […]
ACA, FSA, Health Care Reform. 2012 archive(c) 2015 Erisa Diagnostics - We focus on benefits, so you can focus on business