Employee Benefits, Flexible Spending Accounts

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. If your… Continue reading Changing Your FSA Election During the Coronavirus Crisis

Employee Benefits, Flexible Spending Accounts, P&A Group

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

P&A Group, Retirement Plan Services

CARES Act: Changes to Retirement Plans

The Coronavirus Aid, Relief and Economic Security Act, or CARES Act, contains important changes to retirement plan vehicles, including changes to defined contribution and defined benefit retirement plans. Americans can expect the following changes to retirement plans. Early Withdrawals Waived for Coronavirus-Related Distributions Under Section 2202 of the CARES Act, the 10% early withdrawal penalty is… Continue reading CARES Act: Changes to Retirement Plans

Employee Benefits, Flexible Spending Accounts, Health Care Reform, Health Reimbursement Arrangements, P&A Group

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

Employee Benefits, Flexible Spending Accounts, Health Reimbursement Arrangements

Coronavirus Testing & Treatment Identified as Preventative Care for HDHPs

Coronavirus testing is considered a preventive service for individuals under high deductible health plans (HDHP)s. On March 11, 2020, the IRS released guidance concerning the widespread COVID-19 coronavirus as it relates to the testing and treatment of individuals enrolled in a high deductible health plan (HDHP). The decision came swiftly due to the public health… Continue reading Coronavirus Testing & Treatment Identified as Preventative Care for HDHPs

Flexible Spending Accounts

California FSA Notice Requirement

Are you familiar with the new California FSA notice requirement for employers? If not, keeping reading.  Here’s everything you need to know about the new rule that went into effect on January 1, 2020. What is the California FSA Notice Requirement? Under Assembly Bill 1554, California employers must notify all FSA participants of their plan’s… Continue reading California FSA Notice Requirement