Remove cobra
article thumbnail

8 Things to Know About the New COBRA Subsidy

Benefit Resource Inc.

While the specifics are still developing, here are 8 things to know about the COBRA subsidy that is included in the bill. This will allow eligible individuals to obtain COBRA continuation coverage for their health plan without paying COBRA premiums. previously elected COBRA coverage and have paid premiums for prior months.

article thumbnail

COBRA subsidy FAQs: Answers to the most common questions

Benefit Resource Inc.

Many of them affected pre-tax benefits plan and continuation coverage, also referred to as COBRA. Below we offer insight into four main areas that gave rise to questions around the government-funded COBRA subsidy: Eligibility. Please continue to check our blog page for updates on this developing topic. Premiums & Billing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Practical Guide to Claiming the COBRA Premium Assistance Tax Credit

Proskauer's Employee Benefits & Executive Compensa

Over the last few months, employers and plan administrators have concentrated on identifying qualifying individuals eligible for COBRA premium assistance under the American Rescue Plan Act of 2021 (“ARP”), sending out proper notices , and collecting election forms. Why is it Important to Apply for the Tax Credit?

Taxes 40
article thumbnail

Your October payroll questions answered

Business Management Daily

So before we turn our attention to post-season baseball, let’s sort through some pandemic-related payroll questions that have come to our attention. In Notice 2021-31 , the IRS said the COBRA subsidy must be included in income. Employers’ payment of employees’ health benefits, even COBRA benefits, isn’t taxable to employees.

Payroll 52
article thumbnail

Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

The FSA caveat: Employees have access to the full annual FSA election amount at the beginning of the year, so there’s always a risk that they could use their FSA allotment and quit or be let go before they’ve fully funded the account through payroll contributions or after you funded it.

article thumbnail

Do More With Less in Your HR Department

Benefit Resource Inc.

One of the biggest time sucks for an HR department is payroll and employee benefits. Factoring in all of the time and effort it takes to handle all of the above, it makes sense for most organizations to partner with trusted third-party payroll and benefits administrators who can do the heavy lifting.

Payroll 40
article thumbnail

The New #FLSA Overtime Changes: Make Sure Company Policies Are Aligned

HR Bartender

They’re also having internal discussions about how to manage overtime pay and payroll expenses. Also, stay in touch with Paycom by subscribing to their blog , following the company on Twitter or connecting on LinkedIn. Many companies are looking at the possibility of adjusting employees’ status and pay, which is totally understandable.