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Benefits

The American Rescue Plan’s COBRA Subsidy: Questions Answered

Among its many other provisions, the American Rescue Plan Act (ARPA) included a subsidy for continuing health care coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The ARPA subsidy covers 100% of COBRA and state mini-COBRA premiums from April 1st through September 30 of 2021, for certain individuals whose work hours were…

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Preventing Surprise Billing: What You Should Know About the New Rule

On July 1, the Biden-Harris Administration issued an interim final rule titled “Requirements Related to Surprise Billing; Part I” in an effort to address unanticipated out-of-network health coverage charges. While the rule is not yet law, it will take effect on January 1, 2022, following a comment period. Also known as an unexpected balance bill,…

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2021 ACA Reporting – Draft Forms Released

The Internal Revenue Service (IRS) has released draft versions of several 2021 forms related to reporting required by the Affordable Care Act (ACA). Here’s a brief overview: The forms apply to Internal Revenue Code Sections 6055 and 6066. Draft forms 1094-B and 1095-B will be used by providers of minimum essential coverage (MEC). Those include…

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HSA/HDHP Limits Changing for 2022

Each year the IRS is required to publish inflation-adjusted contribution limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) by June 1. Revised limits for calendar year 2022 were released on May 10. Here’s a brief summary of the changes to contribution limits: For eligible individuals with self-only coverage, the HSA contribution…

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FMLA: An Overview

The Family and Medical Leave Act (FMLA) has been the law of the land for nearly three decades, with only minor revisions between its passage in 1993 and today. Yet the provisions of the FMLA are not universally understood by employers or employees. Here’s a brief overview of which employers must comply, which employees qualify…

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Temporary Rules for FSAs

Unlike the first coronavirus relief legislation, the CARES Act, the new bill signed into law on December 27 includes not only stimulus payments to offset the effects of the pandemic but general funding for the federal government for the coming fiscal year. Hence its name: The Consolidated Appropriations Act. In addition to the hotly debated…

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Cybercrime and Your Benefits Plan

With cybercrime front and center in the news again thanks to the ransomware attack that closed Baltimore County’s public schools, it’s a good time to take a new look at the risks and how to mitigate them. While many organizations focus their attention on their operational data – and rightly so – there’s another very…

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HSA, FSA and Retirement Plan Limits for 2021

It’s the season when health care and retirement plans are re-evaluated, and as usual there are changes in the wind as the New Year approaches. Here’s a look at what the IRS has announced about revisions to plan limits in 2021, all effective as of January 1. HSAs/HDHPs: Health Savings Accounts and High Deductible Health…

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Managing Employee Stress in Difficult Times

It’s been a year like no other for all of us, and your team of employees has no doubt been feeling the stress. Besides working remotely, maybe for the first time ever, many are simultaneously trying to handle a full-time job and supervise online learning for their children, or caring for preschoolers or older relatives.…

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Making Your Day Easier with our Client Portal!

At Consolidated Insurance, our belief has always been that we best serve our clients as not just a broker, but as a partner in helping their businesses better manage their risk. To that end, we’re proud to re-introduce the HR and Compliance Client Portal (formerly MyWave Connect), a time-saving online resource that puts clients in…

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