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COVID-19 Special Enrollment Period Raises Compliance Questions

… the coverage available outside of the cafeteria plan – on an after-tax basis – to avoid conflict with the Section 125 election change rules. If and when the IRS issues guidance that election changes during COVID-19 SEPs is a permitted event, withholdings could be adjusted to reverse payroll taxes on employee contributions. SPECIAL COVID-19 ENROLLMENT PERIODS Due to the COVID-19 (aka novel coronavirus) health emergency, many health insurers and third party administrators (TPA) are extending to policyholders and employers the ability to offer to certain employees a special enrollment period (SEP) – that is, a new chance to enroll …

https://www.epicbrokers.com/insights/covid-19-special-enrollment-period-raises-compliance-questions/

Self-Funded Medical for Middle-Market Customers

… has become much more accepted as the purchase decision now includes the top financial executive level, and vehicles such as lifestyle-based contribution models have become mainstream, allowing the full impact of these strategies to fall directly to the organization’s bottom line. Self-insuring is a method to fund employee benefits where the employer pays the insurer an administration fee to process claims and use their provider network to access discounts. However, self-insurance does not mean unlimited liability. To protect against catastrophic loss, the employer purchases stop-loss insurance to shelter the employer from large claims on any …

https://www.epicbrokers.com/insights/self-funded-medical-for-middle-market-customers/

Covering Coronavirus: Risk Considerations Volume 1, Issue 6

… Chain and Business Risks The Unsung Heroes of the Coronavirus Crisis Keeping Truckers Rolling U.S. DOL Announces Temporary FFCRA Non-Enforcement Insurance Products and Coverage Information P&C Webinar Answers Questions on Property Policies and Claims Filing Will Pressure From Lawmakers Change Outcomes of Insurance Claims? Human Resources and Employee Benefits Highlights of the CARES Act Recent FFCRA Legislation – New Webinar Promote Balance and Avoid Burnout While Working from Home Coronavirus & Workplace Well-being: Dispelling Panic and Misinformation Employee Benefits Insights The information presented here is intended to provide a high level overview of critical areas of concern for …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-6/

Community Wellness is Now Understood – for the Worst Reason

For more of our coronavirus coverage, visit epicbrokers.com/coronavirus  Thoughts from Claire Letourneau Each fall, we encourage everyone to get a flu vaccination. Each fall, we hear, “I don’t need a flu shot, I never get sick.” And each fall, I cringe! I cringe because I’m frustrated that people don’t understand the importance of community wellness – doing something that you may not want to do, for the good of the community. Unfortunately, the world is learning about community wellness through the coronavirus pandemic and the fatal consequences of ignoring it. What most people don’t comprehend …

https://www.epicbrokers.com/insights/community-wellness-is-now-understood-for-the-worst-reason/

DOL Releases Updated FFCRA FAQ

… to 59 questions, but we culled out the ones that we have seen most frequently in daily practice and added subtopic headings to help navigate to your most urgent needs: Small Employer (Under 500 Employees) Questions As an employer, how do I know if my business is under the 500-employee threshold and therefore must provide paid sick leave or expanded family and medical leave? You have fewer than 500 employees if, at the time your employee’s leave is to be taken, you employ fewer than 500 full-time and part-time employees within the United States, which includes …

https://www.epicbrokers.com/insights/dol-releases-updated-ffcra-faq/

CARES Act Addresses COVID-19 Economic Crisis

Congress has passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and the President has signed it into law today. The largest emergency economic stimulus package ever passed, the CARES Act aims to help individuals and businesses deal with the severe financial effects of the COVID-19 pandemic. The CARES Act includes sweeping provisions related to greatly expanding small business loan programs, providing direct and immediate cash payments to certain individuals, providing significant unemployment benefits, increasing production of necessary medical supplies and authorizing financial aid to certain particularly hard hit industries. Additionally, the CARES Act clarifies several elements …

https://www.epicbrokers.com/insights/cares-act-addresses-covid-19-economic-crisis/

Coronavirus & Workplace Wellbeing: Dispelling Panic and Misinformation

For more of our coronavirus coverage, visit epicbrokers.com/coronavirus  Viewpoints from Craig Schmidt I hope everyone is doing well, is healthy and practicing safe social distancing and hygiene habits. I’m working remotely with my two pups for the next couple of weeks to do my part in controlling this pandemic. Who would have thought this would escalate so rapidly? Concerning to me is the fact that we’re being bombarded daily with info about coronavirus (COVID-19) right now – some of it good, some of it not – and no doubt the escalating level of mass hysteria is due …

https://www.epicbrokers.com/insights/coronavirus-workplace-well-being-dispelling-panic-and-misinformation/

DOL Announces Temporary FFCRA Non-Enforcement Period

The U.S. Department of Labor (DOL) has issued Field Assistance Bulletin 2020-1 (FAB) to its Wage and Hour Division (WHD) field staff. The FAB advises that WHD should observe a temporary non-enforcement period for employer responsibilities under the Families First Coronavirus Response Act (FFCRA). The FAB does not delay the FFCRA’s April 1, 2020, effective date; but it should give employers some peace of mind that inadvertent compliance failures in the short-term will not also lead to DOL penalties. The FFCRA became law on March 18, 2020, and generally requires employers with fewer than 500 …

https://www.epicbrokers.com/insights/dol-announces-temporary-ffcra-non-enforcement-period/