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What do you need to do to ensure compliance? 4 things every employer must do as business re-opens and employees return to the work premises.

Should Employers Implement the New Pre-Tax Reimbursement Rules? In response to COVID-19, significant pre-tax reimbursement rule changes have been implemented in the benefits landscape.  How should employers respond?

VantagePoint Waives New COBRA Administration Fees for 6 Months* Furloughs, layoffs, and COBRA rules Did you know? When the carriers revert to their eligibility minimum this creates a COBRA event. If a furloughed employee is ultimately discharged this creates a COBRA event. If a full-time employee returns on a part-time basis, this creates a COBRA …

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The Departments of Treasury and Labor, along with the IRS has created a time-frame extension affecting group health and welfare, disability, and pension plans due to COVID-19. These new rules apply for 60 days after the announced end of the declared National Emergency. This 60-day period is now called the ‘Outbreak Period’.

A recent Executive Order issued by Governor Cuomo extends health insurance premium payment grace periods for individual and small group plans provided you demonstrate financial hardship as a result of the novel coronavirus (“COVID‑19”) pandemic.

In our continuing efforts to help employers and their employees, we have launched two little-known but very effective tax-deductible reimbursement programs.

Alternative Avenues for Business Support Current & Newly Announced Grants & Loans

Benefit Enhancements OTC Pre-Tax Reimbursement Over-the-Counter Prescriptions (OTC) no longer need a physician’s prescription. This applies to Flexible Spending plans (FSA) or Health Saving Accounts (HSA). It can be retroactively applied on 1/1/2020. Adopting this will require adjustments to your Section 125 plan documents. If you are not familiar with a Section 125 document (they …

Continue reading “How Does the CARES Act Enhances My Benefits?”

Coronavirus Aid, Relief, and Economic Security (CARES) Act How does this law help my business? Expert Summary from the VantagePoint Team: While all the details are not out yet, we wanted to get this in your hands as soon as possible. Here is a summary of the programs

What is the impact on employee contributions, unemployment and employer obligation to pay? Insider Pro-Tips from the VantagePoint Team: Employee Contributions: Q:) If employee contributions are taken from pay to cover a portion of insurance premiums plans, how will this money be collected