Everything about COVID-19 has changed the way we live, work, and play. As we adapt and adjust to our “new norm,” we now have an opportunity. Since March, many state laws and federal laws have changed; as things continue to be confusing, there are few topics and ways that many employers, HR leaders, brokers, and administrators can agree on.
The following is information regarding the changes in COBRA Coverage. To see a detailed version please click the following link. https://www.govinfo.gov/content/pkg/FR-2020-05-04/pdf/2020-09399.pdf III. Relief A. Relief for Plan Participants, Beneficiaries, Qualified Beneficiaries, and Claimants Subject to the statutory duration limitation in ERISA section 518 and Code section 7508A, all group health plans, disability and […]
On May 12, 2020, the Internal Revenue Service (IRS) issued two notices that impact benefits that fall under an employer’s Section 125 Benefits. Below are some key points to know about these notices. Plan Amendments All the relief items issued in IRS Notices 2020-29 and/or 2020-33 do not have to be implemented by an employer […]
With our recent software update, Flexible Benefit Administrator Inc. (FBA), we will be moving to monthly reporting. Previously, we have provided weekly and daily reporting. This update will be in effect starting May 1st. The main goal is to alleviate the inconvenience of viewing numerous reports, some resulting in overlapping information, by transitioning our customers […]
During the COVID-19 pandemic we understand that many of the changes that have occurred can be overwhelming. FBA is here to keep you up-to- date on information that pertains to you. With a change in the IRS regulations due to COVID-19, the information below contains general information in hopes to help shed some light on […]