COBRA is Now Free and Very Complicated
Late last week, President Biden signed the American Rescue Plan Act of 2021 (“ARPA”), which makes COBRA continuation coverage free for certain qualifying-individuals and their families from April 1, 2021 to September 30, 2021. This free coverage is available to those who lose group health plan coverage because either: they are terminated (not including resignations);…
New IRS Guidance Provides Even More Flexibility for Cafeteria Plans, FSAs, and DCAPs
You might recall that in December 2020, Congress passed the year-end funding bill known as the Consolidated Appropriations Act, 2021 (“CAA”), which contained provisions that provide significant flexibility for flexible spending accounts (“FSAs”) and dependent care assistance plans (“DCAPs”) in 2020 and 2021. Last week, on February 18, 2021, the IRS released Notice 2021-15 to…
More Details on Transparency Rules That Apply in 2022 and Beyond
On December 6, 2020, we posted an article on this blog titled “RADICAL New Transparency Rules Likely Apply to Your Health Plan in One Year.” The regulations are a little more than 150 pdf pages long. The following is intended to provide a condensed but more comprehensive summary of the requirements described in our December…
Another ERISA stock-drop plaintiff meets icy reception by the courts
Much like our frigid weather, the courts continue their chilly reception of ERISA stock-drop claims. Just earlier this month in Varga v. Gen. Elec. Co., No. 20-1144-cv, 2021 WL 391602 (2nd Cir. February 4, 2021), the U.S. Court of Appeals for the Second Circuit affirmed a lower court’s dismissal of an ERISA lawsuit for breach…
New MHPAEA Requirements Effective February 10, 2021
The Consolidated Appropriations Act, 2021 (“CAA”), which is the spending bill passed by Congress on December 27, 2020, imposed new requirements on group health plans to ensure compliance with the Mental Health Parity and Addiction Equity Act of 2008’s (“MHPAEA”). Generally, the purpose of the MHPAEA is to prevent group health plans and health insurance issuers…
Last Week’s Government Funding Bill = Significant New Benefit Plan Rules
On December 27, 2020, the Consolidated Appropriations Act, 2021 (the “Act”) was signed into law. The Act imposes significant new requirements on employee benefit plans. Coupled with other rules and legal developments already set to go into effect, the Act will create significant compliance obligations for employers and their benefit plans.[1] Here is a summary…
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ERISALINC provides legal insight, news, and commentary from McAfee & Taft's Employee Benefits & Executive Compensation attorneys.