Blog
The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
Required Contribution Percentage Adjustment
The IRS announced (in Rev. Proc. 2020-36) the 2021 indexing adjustment to the Affordable Care Act's (ACA's) required contribution percentage. Applicable Large Employers (ALEs) subject to the ACA's shared responsibility (pay or play) provisions use this percentage to determine whether
New IRS Guidance Expands Eligibility for 401(k) Plan COVID-19 Related Distributions and Loans
On June 19, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-50, along with a related news release, that provides official guidance on “coronavirus-related distributions” and temporarily expanded loans taken from 401(k) plans due to the COVID-19 crisis. The Notice
SCOTUS Expands Exemption for Contraceptive Coverage
On July 8th, 2020, the Supreme Court of the United States (SCOTUS) upheld expanded exemptions to the Affordable Care Act's (ACA) contraceptive coverage mandate (Mandate). In a 78 page opinion, SCOTUS details history of the litigation surrounding the Mandate. In
MLR Reporting and Rebates Deadline Extended due to COVID-19
The Centers for Medicare and Medicaid Services (CMS) have extended the deadline for insurers to report Medical Loss Ratio (MLR) annual reports and rebates from July 31 to August 17, 2020. The MLR reflects the portion of insurance premium revenue