HSA/HDHP Limits Increase for 2021: The IRS has recently issued the 2021 cost-of-living contribution and coverage adjustments for HSA’s.
Updated Model COBRA Notices: The DOL recently issued new model notices for group health plan administrators to use to comply with COBRA notification requirements. Plan administrators are not required to use the updates, however the DOL considers their use to be good faith compliance with COBRA’s content requirements.
COVID-19 Relief for Employee Benefit Plan Deadlines: The DOL also recently issued deadline relief to help employee benefit plans and plan participants affected by the COVID-19 outbreak. This includes the extension of Participant Notices and ERISA Notices and Disclosures.
Employee Assistance Programs Post COVID-19: If your workplace does not have an Employee Assistance Program (EAP), now, more than ever, is the time to connect with this valuable resource. EAP’s had been gaining employer attention in the last couple years but with the COVID-19 pandemic putting a spotlight on a growing number of mental health conditions and how they affect employees, it is estimated that EAP’s will continue to gain traction and be more important than ever.
Coronavirus is Changing Health-care Delivery: While telemedicine has been slowing gaining attention, the coronavirus crisis has greatly accelerated its acceptance. Just this past weekend, I used Teladoc for a minor infection. Five minutes after I submitted my request, I was speaking to a physician and a mere five minutes later he was forwarding my prescription to the local pharmacy. And, under my benefit plan, there wasn’t a co-pay… no waiting room frustration + no co-pay = PRICELESS 😊
Employers Consider Changes to PTO Policies: Many employees canceled their spring break vacations and even now there remains uncertainty whether employees will delay or cancel their summer vacations all-together. This is resulting in employees forgoing their PTO under a “use it or lose it” policy and leaving business owners unsure how to proceed with their PTO policies.
Nulty ‘Summer Six Pack’ Webinar Series: Our webinar series kicked off a few weeks ago and so far it has been hugely popular! Our next one is this Wednesday, June 3rd on Michigan’s No-Fault Auto Reform which takes effect on July 2nd. We will bring you up to speed on how the reform is changing commercial auto insurance and group health coverage for your business. It’s not too late to register!