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Health & Welfare Plans Newsletter

October 30, 2024

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[Guidance Overview]

New IRS Guidance Impacts Preventative Care and Pre-Tax Benefits

"Employers should ... consider: [1] Notifying employees of the change in eligible expenses, for employers who offer a health FSA, HRA, or HSA ... [2] Working with your carrier and/or third-party administrator (TPA) to ensure your HDHP (if offered) accommodates [these benefits] without requiring a deductible."  MORE >>

Sequoia

[Guidance Overview]

Administration Proposes Mandatory Coverage of Over-the-Counter Contraceptives

"[The] Administration released proposed regulations that, if finalized, would mandate non-grandfathered group health plans to cover over-the-counter (OTC) contraceptives without cost-sharing and without a prescription.... If finalized, the proposed regulations would become effective for plan years beginning on or after January 1, 2026."  MORE >>

Miller Johnson

[Guidance Overview]

Michigan Employers: Get Ready for Expanded Paid Sick Leave

"Starting on February 21, 2025, every Michigan employer, regardless of size, must provide their employees with up to 72 hours of sick leave annually.... ESTA will apply to all employers with one or more employees, excluding the U.S. government.... Comparing current PMLA to coming ESTA requirements: [1] Accrual ... [2] Carryover ... [3] Frontloading."  MORE >>

Epstein Becker Green

[Guidance Overview]

New Paid Leave Laws for California Employers Take Effect January 1

"AB 2123 sunsets the authorization for an employer to require an employee to take two weeks of vacation leave before accessing their benefits under the California Paid Family Leave (PFL) program ... AB 2499 revises and expands existing statutes protecting victims of domestic violence, sexual assault, stalking and abuse ... giving protections to employees who have experienced or are caring for someone who has experienced a 'qualifying act of violence.' "  MORE >>

Keenan & Associates

Navigating Health Insurance for the Self-Employed

"Unlike employees of larger corporations, who often have access to employer-sponsored health insurance plans, the self-employed must secure their own path to coverage. To help members navigate the health insurance landscape, we have compiled an overview of the various health insurance options available to self-employed individuals and businesses. This guide focuses on little-known ways to get coverage, the Health Insurance Marketplace, open enrollment periods, supplementary plans."  MORE >>

National Association for the Self-Employed [NASE]

How an Employee Assistance Program (EAP) Can Benefit Employees' Mental Health and Holistic Wellness

"EAPs can ... include a vast array of confidential services -- often 24/7 -- by phone or online.... They're often embedded in broader benefits plans (like disability or life insurance) at little to no additional cost to the employer. There's also typically no cost to the employee.... [W]ays an EAP can support employees and your business ... [1] Stress management coaching.... [2] Help with substance use concerns.... [3] Help with childcare, ID theft, and more.... [4] Workplace management skills.... [5] Critical incident response."  MORE >>

Principal Financial Group

[Opinion]

Improve American Health Care by Moving Away from Employer-Sponsored Insurance

"Health care financed by insurance represents a major portion of the economy in America, and more than half of people with insurance are covered by their employer. For employers, approximately 30% of employee expenses go to benefits, of which health insurance is the largest component.... The major problem with this is that ESI leads to lower-quality, higher-cost health care while hurting the employer's productivity."  MORE >>

American Journal of Managed Care

Benefits in General

[Official Guidance]

Draft of 2025 IRS Publication 15-A: Employer's Supplemental Tax Guide (PDF)

"What's New: [1] Social security and Medicare taxes for 2025.... [2] Moving expense reimbursements.... [3] No federal income tax withholding on disability payments for injuries incurred as a direct result of a terrorist attack directed against the United States.... [4] Electronic submission of Forms W-4 and W-4P.... [5] Electronic submission of Forms W-4R, W-4S, and W-4V."  MORE >>

Internal Revenue Service [IRS]

Supreme Court Urged to Resolve Split on ERISA Standing Requirements in Excessive Fee Cases

"Three benefit companies recently requested that the U.S. Supreme Court review a decision by the U.S. Court of Appeals for the Fifth Circuit regarding the proper standard for determining Article III standing in excessive fee class action cases brought under [ERISA].... The Fifth Circuit's decision ... widens the split among the circuit courts regarding the proper test for determining constitutional standing in class actions, particularly in the plan service provider industry." [Chavez v. Plan Benefit Servs., Inc., No. 22-50368 (5th Cir. July 15, 2024; cert. pet. filed Sep. 24, 2024)]  MORE >>

Holland & Knight

First Circuit Says Massachusetts Non-Compete Agreement Enforceable in California Despite State’s Ban

"The case arguably stands for the proposition that an employee cannot escape an otherwise enforceable non-compete agreement by simply moving to (and working in) a state with different laws. Therefore, when hiring an employee from out-of-state, an employer should pay close attention to whether the employee is subject to a non-compete agreement that originates in another jurisdiction." [DraftKings Inc. v. Hermalyn, No. 24-1443 (1st Cir. Sep. 26, 2024)]  MORE >>

Saul Ewing LLP

Beyond Pensions: How RHRAs Can Enhance Retirement Readiness

"[A] retiree who is 65 years old in 2024 will need, on average, $165,000 saved to cover their healthcare and medical expenses throughout retirement. Focusing company benefit dollars in this direction could help address this barrier to retirement. And many of the traditional objections to -- and challenges presented by -- retiree medical in its historical form can be overcome through careful design of Retiree health reimbursement arrangements (RHRAs). Compared to DB or DC plans, RHRAs are more flexible[.]"  MORE >>

Fidelity

Employee Benefits Jobs

View job as Defined Benefit Consultant for Corvus Pension Actuaries, LLC

Defined Benefit Consultant

Corvus Pension Actuaries, LLC

Remote

View job as Defined Benefit Consultant for Corvus Pension Actuaries, LLC

Press Releases

Alvarez and Marsal, Inc Establishes A&M Private Wealth Partners to Serve Ultra-High-Net-Worth Clients

Alvarez & Marsal

Financial Finesse Acquires the OfColor Business

Financial Finesse

Last Issue's Most Popular Items

Anthem BCBS May Face Class Action Suit for Alleged 'Ghost Network'

InsuranceNewsNet.com

District Court Turns Back Challenge to Payroll Practices Exemption Under ERISA

Thomson Reuters Practical Law

Gag Clause Prohibition and Attestation: How Can Health Plan Sponsors Comply?

OneDigital

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BenefitsLink® Health & Welfare Plans Newsletter, ISSN no. 1536-9595.

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