The Department of Labor (DOL) announced 2021 annual inflation adjustments to the civil monetary penalties for various violations pertaining to health and welfare benefit plans as well as pension…
EBC Insights
Don’t Forget to Distribute Required Notices this Open Enrollment
With open enrollment fast-approaching for many employers, it is a good time to review what employer notices and materials are required for distribution at open enrollment, as well as other times throughout…
COBRA Continuation and Disability
The COBRA continuation coverage may be extended if an individual is deemed disabled by the Social Security Administration (SSA) and the individual meets certain requirements. This allows a qualified beneficiary to remain covered under COBRA until they become…
COBRA Continuation and Medicare
The relationship between COBRA continuation and Medicare can often cause confusion. At times Medicare entitlement (enrollment) can trigger a need to offer COBRA, but at other times it can trigger a termination of COBRA coverage. We hope to provide…
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 5500 obligations…
IRS and DOL Provide Deadline Relief
On April 28, 2020, the U.S. Department of Labor (DOL) and Internal Revenue Service (IRS) issued a joint rule titled Extension of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak. The rule is in response...
Coronavirus Aid, Relief, and Economic Security (CARES) Act Impact on Benefits
The U.S. government continues to develop and enact legislation to aid employers and individuals in light of COVID-19. Today, President Trump signed the Coronavirus Aid, Relief, and Economic…
High Deductible Health Plans and Expenses Related to COVID-19
The IRS has issued Notice 2020-15, which provides relief for testing and treatment for the 2019 Novel Coronavirus (COVID-19) from being disqualifying coverage for eligibility to contribute to a…
The Difference between Schedule A and Schedule C
This time of year, employers who have calendar year Form 5500 obligations begin gathering information for their filing that may include Schedule As and/or Schedule Cs. Employers who sponsor ERISA plans…