Benefits Newsletter: 1/19/22
With Employee Benefits & HR topics regularly in the news, it’s difficult to stay up to date. Our weekly newsletter will help you stay current. Check out this week’s edition.
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Benefits Buzz Newsletter: December 2021
This month's Benefits Buzz discusses an interim final rule requiring the reporting of prescription drug and medical cost information, as well as updated employee benefit plan limits for 2022.
Benefits & Me: December 2021
This month's Benefits and Me discusses what happens if you miss open enrollment, critical illness insurance and voluntary benefits.
Benefits Breakdown Newsletter: December 2021
This month's Benefits Breakdown explains what happens when an employee misses enrollment and suggests tips to offer part-time workers.
2022 New Year’s Resolutions for Employers: Bring On the New Year!
2021 has been a year that employers won’t soon forget, regardless of how hard some may try! There has been a seemingly endless stream of COVID related regulations and ongoing court challenges to these regulations. Employers have faced supply chain shortages, labor shortages, and employee retention concerns. It is a credit to the resiliency of businesses and employees that our economy kept moving forward throughout 2021. As the calendar rolls over into 2022, employers are presented with the opportunity to reflect and take pride in the obstacles overcome. More importantly, employers can look forward to the opportunities that lie ahead in the new year. One such forward-looking activity employers can tackle is to list and prioritize their 2022 compliance goals. This can be done in the form of business-specific New Year’s resolutions.
Court Reinstates OSHA Vaccination Mandate for Private Employers
On Friday Dec. 17, 2021 the 6th Circuit Federal Court of Appeals reinstated OSHA's federal emergency temporary standard (ETS) for COVID-19. The 6th Circuit court decision reverses the stay ordered in November by the 5th Circuit and allows OSHA to resume ETS implementation and enforcement nationwide.
IRS Extension for Furnishing ACA Forms, End of ‘Good Faith’ Relief
In previous years, the IRS has extended the due date for specific Affordable Care Act (ACA) information reporting requirements for insurers, self-insured plan sponsors, and "applicable large employers" (ALEs). This year, the IRS has not issued an extended due date for furnishing Forms 1095-C and 1095-B to individuals. Instead, on November 22, 2021, they issued new proposed regulations which provide a permanent, automatic extension of the deadline for furnishing Forms 1095-C and 1095-B to individuals from January 31, 2022, to March 2, 2022. While these proposed regulations have not been finalized, employers can rely on these regulations beginning with the reporting year 2021.
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