President Trump signed into law the Consolidated Appropriations Act, 2021 (the Omnibus Bill) on December 27, 2020. The following update provides a summary of key employee benefit provisions in the Consolidated Appropriations Act.
The act expands and extends certain COVID-19 relief, including new qualified disaster relief for retirement plan distributions and temporary special rules for flexible spending arrangements. Healthcare consumer protections under the act limit the potential for surprise billing and increase health cost transparency. The act also provides relief related to health care and dependent care flexible spending accounts. Read the full article.