NAHU Washington Update 04-09-2021
As members of the National Association of Health Underwriters (NAHU) we receive weekly bulletins on benefit related topics, mostly focused on health insurance. Here are topics of interest from April 9, 2021.
COBRA Subsidies- Updates with Model Notices
COBRA Premium Assistance under the American Rescue Plan Act of 2021 requires employers to provide free COBRA coverage to eligible employees (and family members) between April 1, 2021 and September 30, 2021. Additional employer obligations are required during this period, including new COBRA election periods and notices. Employers will be reimbursed for the subsidized coverage through payroll tax credits.
2020 HSA Contribution Deadline Extended to May 17th
The IRS extends the 2020 HSA contribution deadline to May 17th. The extension is applicable to after-tax HSA contributions, not pre-tax contributions through payroll deductions.
FSA Flexibility
The American Rescue Plan (ARP) of 2021 includes legislation that increases the dependent care Flexible Spending Account (FSA) limit for 2021 from $5,000 to $10,500 (from $2,500 to $5,250 for married filing single). An employer can amend its cafeteria plan...COBRA Subsidies
On March 11, 2021, the American Rescue Plan Act of 2021 (ARP) was signed into law. Included in the Act is a temporary 100% COBRA subsidy for COBRA qualified beneficiaries where the qualifying event was an involuntary termination of employment or reduction in hours....The Employer Role in the COVID-19 Vaccine
On Thursday, January 28, 2021, Kentucky rolled out a new website and hotline to assist Kentuckians so they can decide if they are eligible to be vaccinated. For more information and resources on vaccines in Ohio and Indiana, go to our COVID-19 alert page.
While employers are thinking through how best to prepare and support their employees from a health, education, safety, and legal perspective, some have reached out to us with questions.
2021 Employer Mandate- 1094/1095 Reporting Requirements for 2020
Employer reporting requirements and penalties for non-compliance are due in March. The IRS released instructions and 1094/1095-B and C Forms for the 2020 tax year.
Prohibition on Surprise Billing
Beginning in 2022 certain non-network providers, high cost air ambulances and ancillary providers for emergency services will be prohibited from balance billing for surprise services without consent. The law applies to group health plans and health insurance carriers in the individual and group markets .
Business Benefits releases Website Redesign
New Year. New Look! We are pleased to announce our newly redesigned Business Benefits website. We invite you to explore and learn more about us. Learn about changes to the industry, new laws and regulations. ...Transparency In Coverage Rule
In the Fall of 2020, the Transparency in Coverage final rules were issued. The Final Rule establishes requirements for the disclosure on group health plans and health insurers in the individual and group markets with the objective of putting health care price information in the hands of consumers.