The IRS released two notices (2020-29 & 2020-33) providing relief on cafeteria plan election rules and increasing the allowed health FSA carryover. These notices are not an employer requirement, rather options to consider.  Keep in mind that if you want to adopt any of the following, your plan documents must be updated and communicated to employees by issuing a Summary of Material Modifications: - Allow coverage for eligible over-the-counter (OTC) items without a prescription - Allo... Read more

As reported by National Association of Health Underwriters, Congress has voted to fully repeal the Cadillac (excise) Tax and the Health Insurance Tax. The legislation fully repeals the Cadillac Tax and repeals the HIT effective January 1, 2021, which means the HIT will still be in place for 2020. According to the Congressional Budget Office, repealing the Cadillac Tax will save consumers $197 billion, and the HIT repeal will save consumers $150 billion! Business Benefits has actively s... Read more