Carrier Premium Credits and ERISA Fiduciary Obligations

May 18, 2020
Due to COVID-19 and state and local stay-at-home orders, utilization of group medical and dental insurance benefits is down.  As a result, some carriers recently notified employers that they will be issued premium credits. When asking how these premium credits should be treated by the... Find out more »

IRS Relaxes Election Change, Other Rules for Cafeteria Plans and FSAs

May 13, 2020
As the country continues to feel the impact of the COVID-19 National Emergency declared by President Trump on March 13, 2020, the IRS has provided some much-needed guidance and relief for employees.  On May 12, 2020, the IRS issued Notices 2020-29 and 2020-33, which, among other things,... Find out more »

Employer Insurance Premium Payment Grace Periods & Premiums Returned to Employers Inadvertent ERISA Issues

May 11, 2020
During this pandemic, many employers are having to curtail operations and are going through the difficult process of finding cost-saving measures because of the sudden reduction in revenue caused by the various COVID-19 related state and local government orders. Many carriers are allowing, and... Find out more »

Agencies Extend Deadline to Pay COBRA Premiums and Certain Other ERISA and Internal Revenue Codes Due to COVID-19

April 30, 2020
The impacts of the COVID-19 National Emergency, as declared by President Trump on March 13, 2020, have been vast.  As a result, many employers and employees are struggling to meet their various filing, notice, election, or other deadlines.  In order to ease this burden on employers, plans... Find out more »

COVID-19 and Cafeteria Plan Considerations

April 27, 2020
This legal alert was updated May 13, 2020. A cafeteria plan, or Section 125 plan, sometimes referred to as a POP plan, allows employees to pay for certain expenses on a pretax basis. Employees choose between a taxable benefit (cash, typically distributed via payroll) and two or more pre-tax... Find out more »

NYS Notice: Small Group Blanket Comprehensive Health Insurance Policies

April 21, 2020
Notice for Individual, Small Group and Student Blanket Comprehensive Health Insurance Policies Dear Policyholder, A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations (the “regulations”) issued by the New York... Find out more »

Tax Credits Under FFCRA: Qualified Leave Wages & Health Plan Expenses

April 13, 2020
This content was last reviewed on April 14, 2020. Employers who are uncertain about how to calculate their qualified health plan expenses and qualified leave wages should consult with their legal counsel or financial adviser. The Families First Coronavirus Response Act (“FFCRA”)... Find out more »

Notice for Certain NY Property & Casualty Policies

April 7, 2020
Dear Policyholder, A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations (the “regulations”) issued by the New York State Department of Financial Services (“Department”), extend grace periods and give... Find out more »

Notice for NY Life Policies, Annuity Contracts, and Fraternal Benefit Society Certificates

Dear Policyholder, A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations (the “regulations”) issued by the New York State Department of Financial Services (“Department”), extend grace periods and give... Find out more »

Legal Alert: Congress Passes the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

April 1, 2020
On March 27, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act comes as a continued response to the Coronavirus 2019 (COVID-19) pandemic that is significantly impacting the United States. The Act is a $2.2 trillion economic package that... Find out more »