The Internal Revenue Service (IRS) issued Notice 2023-37 on June 23, 2023, regarding high deductible health plans (HDHPs) and expenses related to COVID-19.
EBC Insights
The COVID-19 Outbreak Period Is Ending. Now What?
COVID-19 relief for group health plans has been winding down over the last couple of years, and one of the last parts to expire is the outbreak period deadline extensions, which are set to end in relationship…
New IRS Guidance on Change of Election Rules
The IRS recently released IRS Notice 2022-41, which creates a new permitted election change for cafeteria plans. Who is impacted by this IRS Notice? This Notice impacts employers that sponsor cafeteria plans…
Wrapping up 2021 and Preparing for 2022
Since the start of the COVID-19 pandemic, we’ve seen many legislative and regulatory changes that have altered employee benefits. These regulatory changes were put in place to offer additional relief and extensions during a difficult time. Although much…
2022 FSA and Commuter Limits
The IRS has officially announced, under Revenue Procedure 2020-45, the 2022 Flexible Spending Account (FSA) and Commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase…
IRS Releases Notice 2021-31, COBRA Subsidy FAQs
On Tuesday, 05/18/2021, the Internal Revenue Service (IRS) released IRS Notice 2021-31, which includes additional guidance about the application of the COBRA premium assistance provisions in…
IRS Releases Notice on Taxation of Dependent Care Benefits
On Monday, 05/10/2021, the IRS released a notice that impacts recent Dependent Care flexible spending account (FSA) relief. It’s important to review recent legislation when considering this announcement.
Reminders for Filing Individual 2020 Tax Returns
On March 17, 2021, the Treasury Department and Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year is automatically extended from April…
IRS Announces PPE Is a Qualified Medical Expense
The Internal Revenue Service (IRS) released Announcement 2021-7 on March 26, 2021. It states that amounts paid for personal protective equipment (PPE) for the primary purpose of preventing the…
DOL Releases Guidance on Deadline Extension
On February 26, 2021, the Department of Labor (DOL) released guidance on the duration of deadline extensions provided under a joint rule issued with the Internal Revenue Service (IRS) in April of 2020.