Given recent declines in equity value in a variety of segments of the economy (technology in particular), a number of clients have asked us what levers are available for retaining talent. While they are rare and while we might be
SW Benefits Blog
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HDHP Telehealth Relief Extended for Remainder of 2022, but Mind the 3-Month Gap in Relief
On March 15, 2022, the Consolidated Appropriations Act, 2022 (the “2022 CAA”) was signed into law. Section 307 of the 2022 CAA extends the relief permitting high deductible health plans (“HDHPs”) to provide telehealth and other remote care services free…
To the Moon After All? DOL Targets Cryptocurrency in Retirement Plans
In Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in ERISA-covered retirement plans. In particular, the Release articulates the Department’s view…
An Interesting Intersection: No Surprises Act Claims and the New Fee Disclosure Requirements for Group Health Plans
As reported in our January 7, 2022 SW Benefits Blog “The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules,” group health plans must now comply with the ERISA Section 408(b)(2) disclosure requirements. The…
Short-Term Deferral Day is Right Around the Corner
By Greg Gautam
Section 409A, the provision of the Internal Revenue Code that regulates the time and form of payment of nonqualified deferred compensation, contains a helpful exception for “short-term deferrals.” Specifically, Section 409A provides that a payment will not be considered nonqualified…
More is Not Always Better: Supreme Court Reexamines Fiduciary Duty of Prudence
In what may be one of the shortest decisions this term, the Supreme Court handed down a unanimous six-page opinion on January 24, 2022 in Hughes v. Northwestern University. Vacating the Seventh Circuit’s decision, the Court further defined an…
Group Health Plans Must Provide Free Over-the-Counter COVID-19 Tests Effective January 15, 2022
On January 10, 2022 the Departments of Labor, Health and Human Services, and Treasury issued Affordable Care Act FAQs Part 51 which addresses, in relevant part, payment for over-the-counter (“OTC”) COVID-19 testing. For more information about the OTC COVID-19 testing…
The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules
In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to certain service providers to group health plans. The Consolidated Appropriations Act of…
Final Touches: IRS Clarifies Impact of COVID-19 Disaster Relief on COBRA Payment Deadlines
The Internal Revenue Service recently issued guidance to clarify the interaction between COVID-19 disaster relief and premiums due for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).
As summarized here, the Joint Notice and the…
In Case You Missed It – Summer 2021
By Anne Meyer
Summer has come and gone, but there was no summer vacation for employee benefits legislation and guidance. In case you have been too busy to check out our blogs lately, here are some key items to help you stay organized…