Original content from United Benefit Advisors (UBA)
As expected, the first U.S. government shutdown in 17 years has not been kind to those seeking an afternoon at a national park, researching any internet address ending in “.gov” or attempting to have questions answered about a past tax return. However, as it nears its apparent end, the shutdown’s effect on the employee benefits discipline has been just as broad.
As reported by Employee Benefit News (EBN), Bill Sweetnam, principal at Washington-based Groom Law Group, said, “During the shutdown, we haven’t seen any guidance come out from the IRS or Treasury, which is frustrating to employers and plan sponsors because they want to know what they have to do. The fact that we have a shutdown doesn’t postpone an effective date.”
EBN also touched on the shutdown’s ramifications on health care reform, which is in the early throes of its exchange program. While guidance has been hard to come by during the stoppage, any lengthened shutdown would be even more detrimental.