On Oct. 29, 2020, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a final rule regarding transparency in coverage that imposes new transparency requirements on group health plans and health insurers in the…

The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers that hire individuals from certain “targeted groups” that have consistently faced significant barriers to employment. Initially enacted in 2007, the WOTC was originally set to expire…

Internal Revenue Code Section 132(f) allows employers to offer a qualified transportation benefit program to their employees on a tax-free basis. Under this type of program, employees can choose to have money withheld from their taxable compensation to pay or…

Tufts Health Plan and Harvard Pilgrim Health Care have been working on plans to integrate the two organizations since the announcement of their intent to combine last year. Beth Roberts, current senior vice president of Harvard Pilgrim’s Commercial business, will…

The Internal Revenue Service (IRS) has released Notice 2020-79, containing cost-of-living adjustments for 2021 that affect amounts employees can contribute to 401(k) plans and IRAs, most of which remain unchanged. The following limits increased for 2021: The annual limit for…

On Oct. 27, 2020, the IRS released Revenue Procedure 2020-45 (Rev. Proc. 20-45), which announced that the health FSA dollar limit on employee salary reduction contributions will remain at $2,750 for taxable years beginning in 2021. An employer may continue…

The Internal Revenue Service (IRS) released final 2020 forms and instructions for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2020 Form 1094-B and Form 1095-B (and related instructions) will be used by providers of minimum essential coverage…

The chart below provides a brief overview of each candidate’s health care platform, planned COVID-19 response and stance on the open U.S Supreme Court seat, so that you can better understand how this election may affect the employee benefits landscape.…

The current federal minimum wage rate is $7.25 per hour. However, many states have adopted minimum wage rates higher than the federal rate. Several states have announced new minimum wage rates for 2021.  Refer to the attached compliance overview for…

On Oct. 13, 2020, the Small Business Administration (SBA) published a new set of answers to frequently asked questions about the forgiveness of loans issued under the federal Paycheck Protection Program (PPP). The PPP was created by the Coronavirus Aid,…

The Small Business Administration (SBA) and the U.S. Department of Treasury (Treasury) recently released a simpler Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S and instructions. This updated, simple two-page application is for borrowers of $50,000 or less, and…

The Maine Department of Labor has issued regulations governing the state’s new Earned Employee Leave Law (EELL), which allows eligible employees to earn one hour of paid leave that may be used for any reason for every 40 hours worked,…