15 Apr The ClearPath Advisor – April 2020

The ClearPath Advisor – April 2020

Compliance Check

what you need to know

Compliance Recap – March 2020

March was a busy month in the employee benefits world.

The President signed the Families First Coronavirus Response Act (FFCRA) into law. The Department of Labor (DOL) issued a bulletin regarding enforcement of the FFCRA. The President also signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law.

The DOL issued frequently asked questions (FAQs) on providing leave under the FFCRA that have been updated multiple times since first being issued. The DOL also issued an employee’s rights notice that employers subject to the FFCRA are required to post and issued employee and employer fact sheets on the FFCRA.

The Internal Revenue Service (IRS) issued a notice regarding health savings account (HSA) qualified HDHP coverage of testing and treatment related to COVID-19 without meeting a minimum deductible. The IRS also issued a notice providing taxpayers with various filing and payment deadline extensions, including an extension for HSA contributions. Additionally, the IRS issued guidance on the emergency Family and Medical Leave Act (FMLA) leave and emergency paid sick leave tax credits under the FFCRA.

The U.S. Supreme Court announced that it will hear the court case challenging the Affordable Care Act’s (ACA’s) constitutionality. The Department of Health and Human Services (HHS) published the final 2021 actuarial value calculator and methodology. The DOL issued FAQs on the availability of traditional FMLA for COVID-19 and the Centers for Medicare and Medicaid Services (CMS) issued FAQs on essential health benefits and COVID-19.

New IRS Form 7200 Families First Coronavirus Response Act Leave Tax Credit

The Internal Revenue Service (IRS) recently released IRS Form 7200 along with completion Instructions. Form 7200 may be used by an employer to request an advance payment of tax credits for paid leave under the Families First Coronavirus Response Act (FFCRA) and under the Coronavirus Aid, Relief, and Economic Security Act’s (CARES Act) employee retention tax credit (ERTC) provisions. The Instructions to Form 7200 are straightforward and provide line-by-line completion guidance.

Coronavirus Resources

How To Support Your Employees During A Global Pandemic. As companies frantically try to adapt to the coronavirus pandemic, many HR teams find themselves with an alarmingly jam-packed workload. Employee interviews need to be postponed, telework policies implemented or adjusted, health and wellness protocols changed. And when everyone is in crisis mode, it’s easy to let a simple, but crucial, aspect of the job fall to the wayside: being there for your employees.

Strategies for making layoffs a last resort during a crisis. More than 6.6 million Americans have applied for unemployment, according to the Labor Department and there have been over 10 million jobless claims, as a result of the coronavirus pandemic keeping people in their homes and out of work. It is likely that businesses will make further cuts as the latest PwC survey suggests 44% of CFOs expect furloughs and 16% expect layoffs.

Remote Work Policies Should Now Stress Flexibility. Organizations are implementing remote-work arrangements for their employees due to the COVID-19 coronavirus outbreak—many for the first time—and need to be able to outline expectations and guidelines for working outside the office.

Telehealth: What’s in It for You?

Featuring Zach Gerhardt, Market Analyst at ClearPath Benefits

We are becoming increasingly more time driven as a community and country. In fast-paced working environments, the quickest option usually wins out, and telehealth is that option. Spending time in an urgent care waiting room is lost earnings for the employee and, as a result, the employer.

“Telehealth is cost-friendly, time-friendly and revolves around you. In a fast-paced country like our own, this convenience factor is welcomed over traditional wait times and costs…Implementing a nice strategy with telehealth aids in your employees becoming more active participants in healthcare.” – Zach Gerhardt

Dish Featuring Zach Gerhardt

Looking for a new recipe to try this month?

Zach feels strongly about giving back to the community, he volunteers at a local organization where he assists in distributing groceries to those in need. Each summer, Zach participates in his hometown community musical. His hobbies outside of these things include watching Netflix, going to the movies and singing. Zach enjoys long car rides and playing basketball. When football season rolls around, you can catch Zach cheering on the Pittsburg Steelers.

Corn Pudding

All you need to make Zach’s Corn pudding is:

Monthly compliance alerts, educational articles, and events – courtesy of ClearPath Benefits.