On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA), which includes a new COBRA subsidy. The Act will impact qualified COBRA beneficiaries and provide more relief for Americans impacted by COVID-19. Employers will be required to act swiftly. Here is a summary of everything you need to know about… Continue reading American Rescue Plan Act: COBRA Subsidy
Category: Employee Benefits
Building a Successful Virtual Open Enrollment Campaign
If you’re re-imagining the Open Enrollment experience this year, you’re not alone. Many employers are transitioning to a completely virtual Open Enrollment, using creativity and relying on fresh digital strategies to augment their Open Enrollment. P&A Group can help create and deliver an Open Enrollment campaign that keeps your employees informed and engaged. Consider three… Continue reading Building a Successful Virtual Open Enrollment Campaign
Use Your Health FSA to Get Back-to-School Ready
School is just around the corner. Whether students will be back in the classroom or will continue virtual learning, preparations for the start of the new academic year are underway for many families. As you stock up on back-to-school essentials, save some money by using your Health Flexible Spending Account (FSA) on eligible expenses. Consider… Continue reading Use Your Health FSA to Get Back-to-School Ready
COBRA Extensions in the Time of COVID-19: Three Key Deadlines
As the coronavirus pandemic continues, more and more Americans are going on COBRA for their group health plans. With over 5 million Americans who lost insurance coverage this spring, that number isn't expected to go down anytime soon. In fact, studies are projecting that number to reach 10 million by December. Under Notice 2020-01, the… Continue reading COBRA Extensions in the Time of COVID-19: Three Key Deadlines
Changing Your FSA Election During the Coronavirus Crisis
Some FSA participants may be allowed to change their FSA election(s) during the coronavirus pandemic. Recently, there have been many changes happening in the benefits industry to help provide relief for Americans impacted by COVID-19. Under IRS Notice 2020-29, employers can allow for mid-year changes to 2020 Health FSAs and Dependent Care FSAs. Employers can… Continue reading Changing Your FSA Election During the Coronavirus Crisis
P&A Group’s SmartFlex Program: How to Increase FSA Participation
P&A Group's SmartFlex e-mail program keep your workforce connected during Open Enrollment. Many employers and employees have quickly adapted to working from home during the coronavirus pandemic. As the country continues to rebuild and operate in a COVID-19 era, many employees are still working remotely. With more employees home, communicating with your workforce is more… Continue reading P&A Group’s SmartFlex Program: How to Increase FSA Participation
2020 FSA Changes: 5 Things Employers Should Know
The IRS has announced 2020 FSA changes employers can make to provide relief during COVID-19, including the option to allow election changes mid year.
2021 HSA Contribution Limits Announced
On May 21, 2020, the IRS announced the 2021 HSA contribution limits for Health Saving Accounts (HSA). The following increases are effective January 1, 2021: 2021 HSA Contribution Limits Individuals with single HDHP coverage will see a $50 increase in the annual contribution limit, bringing the maximum limit to $3,600 for 2021. Families with family… Continue reading 2021 HSA Contribution Limits Announced
5 OTC Items You Can Now Buy with Your FSA or HSA
OTC items purchased with a Flexible Spending Account no longer require a prescription for reimbursement. Under the new CARES Act, millions of account holders can now use their spending accounts to purchase over-the-counter (OTC) items. Consumers were previously prohibited from using their FSA or HSA to purchase OTC items without a doctor's prescription under the… Continue reading 5 OTC Items You Can Now Buy with Your FSA or HSA
2020 CARES Act: Employee Benefits Update
President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act or CARES Act on Friday, March 27. This bill is intended to help Americans by providing some financial relief as we continue to face the coronavirus pandemic. We are especially happy to see these legislative changes provide greater flexibility for account holders. Employees enrolled… Continue reading 2020 CARES Act: Employee Benefits Update