HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA’s pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need to consider this affordability percentage in developing their health plan contribution strategies for the 2024 plan year. ALEs may need to lower the amount employees have to contribute for 2024 to meet the lowered percentage. On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer’s plan under the…
In a landmark decision, the Michigan Supreme Court has recently overruled decades of case law regarding the open and obvious defense in slip and fall litigation. This ruling has far-reaching implications for property owners, as it eliminates a commonly used defense strategy. It is crucial for business leaders to understand the implications of this decision and take proactive steps to address the issue. Kapnick can help.
The last three years have been increasingly challenging for the United States due to the COVID-19 pandemic. To combat the situation’s effects, two legal emergencies were put in place: the National Emergency (NE) the Public Health Emergency (PHE) Both President
The Biden Administration has announced its plan to end the COVID-19 national emergency and public health emergency (PHE) on May 11, 2023. Employer-sponsored health plans have been required to comply with certain coverage requirements during the COVID-19 emergency periods, including the following:
Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. If you are concerned about missing key 2023 health compliance deadlines, we created this compliance overview that explains key 2023 compliance deadlines for employer sponsored group health plans. It also outlines group health plan notices employers must provide each year.
Quick Facts: The Affordable Care Act (ACA) requires health insurance issuers and employers that sponsor self-funded group health plans to pay Patient-Centered Outcomes Research Institute (PCORI) fees. Employers that sponsor fully insured health plans are not required to pay the fee directly, but employers sponsoring self-funded plans must pay the fee annually on IRS Form 720.
Quick Facts: Supreme Court Stays OSHA ETS Vaccination and Testing Mandate for Large Employers, Reinstates Vaccine Mandate for Health Care Workers
On January 10, 2022, the Departments of Labor, Health and Human Services (HHS), and the Treasury issued FAQ guidance regarding the requirements for group health plans and health insurance issuers to cover over-the-counter (OTC) COVID-19 diagnostic tests. Plans and insurance issuers are permitted to implement
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