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 for individuals who lost coverage due to an involuntary termination of employment or reduction in hours.
The bill also includes an increase in the amount an employee can elect to contribute tax-free to a §129 Dependent Care Assistance Program (DCAP).
Click below for more information about the ARPA:
