Compliance ✔- PCORI Fee Amount Issued for 2021
Employers who sponsor self-insured health plans with plan years ending in 2020 must file IRS Form 720 and pay the Patient-Centered Outcomes Research Institute (PCORI) fee by July 31, 2021. The IRS issued the latest adjusted fee amount of $2.66 in Notice 2020-84. The...
Compliance ✔- COVID-19 Vaccine Coverage Required
The Coronavirus Aid, Relief and Economic Security (CARES) Act requires non-grandfathered group health plans to cover qualifying COVID-19 preventive services, including COVID-19 immunizations, without cost sharing. A final rule was issued to implement this requirement...
Compliance ✔- 2021 Health FSA Limits and More
The IRS kept the Health FSA limit at $2,750 for 2021. For cafeteria plans that allow participants to carryover unused amounts, the maximum carryover is $550. If an employer’s existing cafeteria plan document permits employees to elect up to $2,750, no plan...
Compliance ✔- 2020 Forms 1094/1095 and Instructions
The IRS released the final version of Forms 1094-C, 1095-C, 1094-B, 1095-B and Instructions (for C Forms and B Forms). These forms are used by employers and other reporting entities who are subject to the Affordable Care Act’s health coverage reporting...