CARES Tag
26 Mar Washington Temporarily Bans Credit Scoring for Personal Property Insurance
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Washington Insurance Commissioner Mike Kreidler recently issued a temporary emergency order that bans insurers from using credit scores to determine premiums, rates or eligibility for personal property insurance.
The emergency order—which applies to auto, renters and homeowners insurance—takes effect immediately and impacts all new policies as well as existing policies processed for renewal on or after June 20, 2021.
The order will remain in effect for three years after the day the COVID-19 national emergency is declared over, or the day Washington’s COVID-19 state of emergency expires, whichever is later.
12 Mar IRS Issues Guidance on Employee Retention Credit for 2020
On March 1, 2021, the Internal Revenue Service (IRS) issued Notice 2021-20 to provide guidance for employers claiming the 2020 employer retention tax credit.
This tax credit was created by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to encourage employers to keep employees on their payroll, despite experiencing economic hardships related to COVID-19.
Employer Eligibility
Employers can claim the tax credit if they:25 Jun Federal Agencies Issue More FAQs on Coronavirus-related Changes for Health Plans
The Departments of Labor, Health and Human Services and the Treasury (Departments) have provided answers to a second set of frequently asked questions (FAQs Part 43) about health coverage issues related to COVID- 19, including implementation of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
The FAQs provide guidance on a variety of topics related to health plan coverage. For example, the FAQs:
- Provide that COVID-19 testing for surveillance or employment purposes is not subject to the coverage mandate under the FFCRA and CARES Act;
- Confirm that the FFCRA and the CARES Act generally prohibit balance billing for COVID-19 diagnostic testing;
- Allow health plans to revoke the temporary COVID-19-related coverage changes without satisfying certain notice deadlines, provided participants are notified within a reasonable time frame in advance of the reversal of the changes; and
- Allow large employers to offer coverage for telehealth and other remote care servicesto employees who are not eligible for any other group health plan offered by the employer during the public health emergency.
23 Apr HSA Eligible Expenses Expanded
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be purchased with health savings accounts (HSAs).
CARES Act and Qualifying Medical Expenses
23 Apr HRA Eligible Expenses Expanded
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law.
In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be reimbursed with health reimbursement arrangements (HRAs).
CARES Act and Qualifying Medical Expenses
23 Apr FSA Eligible Expenses Expanded
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law.
In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be purchased with flexible spending accounts (FSAs).
CARES Act and Qualifying Medical Expenses
22 Apr New IRS Form 7200 FFCRA Leave Tax Credit and CARES Act Employee Retention Tax Credit
New IRS Form 7200 Families First Coronavirus Response Act Leave Tax Credit and Coronavirus Aid, Relief, and Economic Security Act Employee Retention Tax Credit. The Internal Revenue Service (IRS) recently released IRS Form 7200 along with completion Instructions. Form 7200 may be used by an employer...
22 Apr COVID-19 Scenarios and the Benefits Available
This table helps employers understand which leave benefits (if any) apply to employees in various coronavirus-related situations. The information in this table is for informational purposes only and should not be construed as legal advice. It is meant to give a general picture of benefits available...
17 Apr Agency FAQs on Coronavirus related Changes for Health Plans
The Departments of Labor, Health and Human Services and the Treasury (Departments) have provided answers to frequently asked questions (FAQs) regarding health coverage issues related to COVID-19, including implementation of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
These new laws require health plans and issuers to cover certain items and services related to the diagnosis of COVID-19 without imposing any cost- sharing requirements (including deductibles, copayments and coinsurance) or prior authorization or other medical management requirements. According to the Departments’ FAQs, health plans and issuers must provide notice of the changes to plan participants as soon as reasonably practicable.
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