Health & Welfare Plans Newsletter

October 28, 2020

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[Guidance Overview]

2021 Health FSA Limit Will Remain at $2,750

"The contribution limit is set by the ACA (originally $2,500) and adjusts in $50 increments based on a complex cost-of-living calculation tied to the chained and standard consumer price index increases for the preceding calendar year. That measure was not sufficient in 2020 to increase [the limit for 2021,] given the provision's requirement to round down to the next lowest multiple of $50." Icon to read more

ABD Insurance & Financial Services

[Guidance Overview]

DOL Finalizes 2020 Updates to MHPAEA Self-Compliance Tool

"As updated, the final self-compliance tool includes best practices, warning signs/red flags, a roadmap for developing internal plan compliance procedures, and a table for evaluating provider reimbursement rates in the MHPAEA context." Icon to read more

Thomson Reuters Practical Law

District Court Permits Retirees’ Breach of Fiduciary Duty Claim Based on Misrepresentation of Lifetime Health Benefits

"Plaintiffs brought a claim for breach of fiduciary duty ... based on Defendants' misrepresentations that Plaintiffs' retiree benefits would vest for life once they reached the equated service date, as Plaintiffs alleged that Defendants fraudulently induced Plaintiffs into continuing their employment to their detriment as a result. The court ... denied Defendants' motion to dismiss this cause of action." [Fitzwater v. Consol Energy, Inc., No. 17-3861 (S.D.W. Va. Oct. 22, 2020)] Icon to read more

Kantor & Kantor

Employees Flock to Virtual Health Care During Pandemic

"Almost half of respondents (47%) have used virtual care services this year -- almost three times more than last year (17%). Employees also gave virtual care high marks compared with face-to-face consultations ... Eight in 10 employees (78%) would consider using virtual care in the future.... 44% have deferred medical care during the pandemic ... a quarter of employees (25%) said their medical provider has cancelled or postponed a treatment or appointment." Icon to read more

Willis Towers Watson

Health Savings Accounts Limits for 2021

"Under a high deductible health plan, an individual with self-only coverage can contribute up to $3,600 and an individual with family coverage can contribute up to $7,200 in 2021. In 2021, there is no change in HSA catch-up contributions of $1,000 for those age 55 or older from 2020." Icon to read more

Nixon Peabody LLP

[Opinion]

ICHRAs Put ACA Subsidies at Risk for Low-Income Workers (PDF)

12 pages. "While the ICHRA proposal may be the best of a bad lot in terms of the Trump administration’s coverage initiatives, this brief examines the rule’s significant risks for New York consumers, particularly lower-income enrollees." Icon to read more

United Hospital Fund

[Opinion]

Oregon’s Paid Family and Medical Leave Insurance Program Must Establish Clear Guidelines for Employers

"ERIC's comments called for: [1] Equivalent plan minimum standards should be clearly and concisely summarized and provided to employers. [2] Administrative and reporting requirements should avoid placing unnecessary or redundant burdens on employers. [3] Model employee notices should be created by the Department and provided for employers' use. [4] The Department should establish clear guidelines for the employer exemption processes governing application, renewal, termination, and decision review." Icon to read more

The ERISA Industry Committee [ERIC]

Benefits in General

[Guidance Overview]

2021 Quick Benefit Facts

Two-page reference guide giving key 2019-2021 annual limits for retirement plans on one page, with health, fringe benefit and [ACA] figures on the other. All 2021 amounts are now official. Icon to read more

Mercer

[Guidance Overview]

Exceptional Usefulness and Quality icon2021 Dollar Limits Affecting Benefit Plans

2021 dollar amounts and applicability listed and described:

 Icon to read more

Thomson Reuters Practical Law

Strategies to Get Your Employees Engaged Through New Benefits During the COVID-19 Crisis

"Look at your current suite of engagement programs and benefits. Do they still work? ... Which benefits and programs keep engagement high and stress low? ... Look into financial wellness benefits to ease concerns about money ... Create an environment where health is top of mind." Icon to read more

Voya

Press Releases

Most Popular Items in the Previous Issue

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BenefitsLink Health & Welfare Plans Newsletter, ISSN no. 1536-9595. Copyright 2020 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.

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