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

Employee Benefits, Flexible Spending Accounts, Health Reimbursement Arrangements, Pre-Tax Commuter Plans

Benefits Card: Five Things to Know Before You Swipe

Card terminal at a local physician's office where patients can use their Benefits Card for expenses. When your employer partners with P&A Group, your benefit plan will more than likely come with a P&A Group Benefits Card.  Your benefit plan may also cover your dependents' expenses – and they can have their own Benefits Card,… Continue reading Benefits Card: Five Things to Know Before You Swipe

Employee Benefits, Flexible Spending Accounts

FSA Grace Period & Other Rules to Know

FSA participant reviews her company's FSA plan rules online to see if her plan offers the FSA grace period. Whether Open Enrollment is already over or you’re in the middle of your plan year, it’s helpful to know if your FSA plan offers special provisions like an FSA grace period.  Understanding how your plan works… Continue reading FSA Grace Period & Other Rules to Know

P&A Group

5 Things We’re Thankful for this Thanksgiving

November – a time of reflection and gratitude; an appreciation for our blessings and our setbacks (for they sometimes offer the best lessons).  While many people are in the middle of Open Enrollment, or in the home stretch of finishing what is usually a busy time of year, Thanksgiving is, suddenly, here.  Before we’re filled… Continue reading 5 Things We’re Thankful for this Thanksgiving

Employee Benefits, Flexible Spending Accounts, Health Reimbursement Arrangements, Pre-Tax Commuter Plans, Retirement Plan Services

IRS 2020 Contributions Limits: What’s Changing

The IRS 2020 contribution limits were released on November 6, 2019. Here's what's changing for certain employee benefit plans beginning January 1, 2020. 2020 Contribution Limits for FSAs Health FSA  For 2020, the Health Flexible Spending Account annual maximum contribution will increase by $50 to $2,750 per plan year.  Adoption Assistance FSA The maximum amount… Continue reading IRS 2020 Contributions Limits: What’s Changing