On January 1, 2024, employers who match certain criteria will be required to offer their employees a transportation benefits program to help provide commuting expenses…
EBC Insights
Medicare Secondary Payer Reporting and HRAs
Medicare Secondary Payer (MSP) rules require that Medicare pay secondary to employer-sponsored group health plans when an active employee and their dependents are enrolled in both a group health…
Filling the Gaps: Enhancing Your Benefits Offering
In an era where employee benefits are consistently gaining significance, employers must evolve to align with their employees’ requirements, as those who are satisfied…
Mid-Year Check-In: How are Your Benefits Doing?
The year is halfway over, which means most benefit plan years are at their midpoint as well. With that in mind, it’s never too early to start preparing for next year to ensure benefit offerings are useful…
Consequences and Remedies for Late or Missing Form 5500s
Form 5500 is due seven months after the plan year has ended. In order to be granted an extension, the Employer/Plan Sponsor must send the IRS a Form 5558 for each ERISA plan subject to Form…
IRS Issues Updated Guidance on High Deductible Health Plans and Expenses Related to COVID-19
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.
Understanding Claim Substantiation
Someone makes a purchase using funds from their health reimbursement arrangement (HRA) or flexible spending account (FSA). Then, they get a request asking for proof that the purchase is eligible. Why do we ask for documentation? The short answer…
5500 Filing Season is in Full Swing!
July is a busy time of year for Form 5500 filings. All plans that are subject to ERISA and meet certain participation size requirements are required to file Form 5500 seven months after the end of the plan year. For calendar year plans (and short plan years ending...
Lifestyle Spending Accounts: Beyond Traditional Benefits
Over the last few years, employment conditions have been tumultuous to say the least. Even among the recent wave of layoffs that have drawn media attention, the unemployment rate sits at the…
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…