Kapnick Insurance Group

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 (more…)

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 (more…)

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 (more…)

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: (more…)

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 (more…)