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IRS Okays Mid-Year Changes to Health, FSA and Dependent Care Elections

To assist with the nation’s response to COVID-19, the IRS recently announced increased flexibility during calendar year 2020 for employers to allow new types of mid-year election changes under Section 125 “cafeteria” plans and extend claims reimbursement periods for Flexible Spending Arrangements. Under IRS Notice 2020-29, employers can amend their Section 125 plan documents to …

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Coronavirus Aid, Relief, and Economic Security Act Summary

In the face of economic damage from the COVID-19 pandemic, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law on March 27, 2020. This comprehensive legislative relief package is designed to help stabilize fragile industries and to provide tax credits and loans to businesses to help them retain their …

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Over-the-Counter Items and Feminine Care Products Now Eligible for Reimbursement

Effective March 2020, Congress passed the CARES Act, which means two big changes for those with a Health Savings Account (HSA), Flexible Spending Account (FSA), or Health Reimbursement Account. What does this mean? Here is an overview to help you understand and prepare for these changes. Over-the-counter Eligibility Changes The CARES Act allows HSA, FSA, …

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American flag waving with the Capitol Hill

Congress Expands Paid Leave in Response to COVID-19

President Trump signed the Families First Coronavirus Response Act on March 18, 2020, expanding paid leave and unemployment benefits to Americans impacted by the coronavirus pandemic. The Act: Requires all government employers and private employers with fewer than 500 employees to offer two weeks of paid leave to employees (see Emergency Paid Sick Leave Act, …

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Alternative Medical Plan Options and How It Affects You

Q&A: Alternative Medical Plan Options and How It Affects You

A hot topic of conversation lately has been Texas school Districts of Innovation (DOI) researching alternative options to TRS ActiveCare. Many of these districts are looking for guidance from a knowledgeable insurance provider to understand requirements and the implementation process. It can be a confusing subject, so we are here to simplify it and answer …

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