A Letter from Jim Kapnick, CEO I began my introduction to last year’s market forecast with the note that 2019 was a year of both challenges and opportunities. Most would say 2020 was a year of straight challenges. In the US, social upheaval and an election cycle meant uncertainty and stress, while the lingering coronavirus pandemic brought considerable devastation
Founded in 1946, Kapnick is celebrating our 75th year in business in 2021. We are currently one of the largest privately held insurance brokers in the nation. The anniversary is being celebrated with multiple private and public events throughout
Quick Facts: Congress passed the $1.9 trillion COVID relief bill, the American Rescue Plan Act of 2021 (ARPA), which President Biden is expected to sign tomorrow. The bill includes significant employee benefits related provisions including a federal subsidy that will cover 100% of the cost of COBRA continuation coverage effective April 1, 2021 through September 30, 2021
Quick Facts:Last week, the Department of Labor (DOL) issued new guidance regarding notice and disclosure timeframe relief for employee benefit plans and plan participants due to COVID-19. EBSA Disaster Relief Notice 2021-01 (The Joint Notice) clarifies that the deadline for extended timeframes, such as a COBRA election, will be based upon the date each
From our 2020 Year in Review: It comes as no surprise that 2020 was a difficult year here at Kapnick, just as it was throughout the world. Yet from disruption comes innovation, and we’re proud of the way the Kapnick team banded
Do you want to know when our latest Strive webinar takes place or maybe when our next Market Forecast will mail out? Click on the button below to download the latest 2021 Kapnick U Calendar. Kapnick U Calendar
Quick Facts: The Consolidated Appropriations Act (CAA), 2021 was passed by Congress on December 21, 2020 and signed into law on December 27. 2020. This COVID-19 relief bill includes provision for employers to make temporary changes for health and dependent care
Quick Facts: In Notice 2020-76, the IRS extended the 2021 deadline for employers and insurers to furnish individual statements on 2020 health coverage and full-time employee status (Forms 1095-B and 1095-C) from February 1 (generally due January 31, but this year it is a Sunday) to March 2, 2021. The notice also extends the good-faith penalty relief to 2020 for incorrect or incomplete reports due in 2021. For more information, including a link to Notice 2020-76, click below:
Quick Facts: In Notice 2020-76, the IRS extended the 2021 deadline for employers and insurers to furnish individual statements on 2020 health coverage and full-time employee status (Forms 1095-B and 1095-C) from February 1 (generally due January 31, but this year it is a Sunday) to March 2, 2021. The notice also extends the good-faith penalty
Background: In connection with the COVID-19 epidemic, the U.S. Congress passed the CARES Act in order to provide financial support and relief to businesses and individual citizens. As part of the CARES Act, the Paycheck Protection Program (‘PPP’) was put in place to provide potentially forgivable loans to small businesses (under 500 employees) who were struggling financially due to the economic uncertainty of the pandemic. The PPP loans were administered by local, regional and national banks and the program is overseen by the Small Business Administration (‘SBA’). The Risk: Applicants for PPP loans needed to demonstrate that the loan request…
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