Under the American Rescue Plan Act (ARPA), employers had the option to allow a temporary increase in dependent care contributions for the 2021 plan year. The maximum amount of $5,000 was increased to $10,500. For those employers who adopted this provision, please be aware the IRS has updated Form W-2 and employee instructions on…
ARPA COBRA Summary As part of the American Rescue Plan Act (ARPA), signed by President Biden on March 11, 2021, qualified COBRA participants were provided temporary premium assistance through a subsidy allowed under the Act. Qualified COBRA participants eligible for the premium subsidy were individuals who: were involuntarily separated from employment or had a…
The IRS 2022 contribution limits were released on November 10, 2021. Here’s what’s changing for certain employee benefit plans beginning January 1, 2022. 2022 Contribution Limits for FSAs Health FSA For 2022, the Health Flexible Spending Account annual maximum contribution will increase by $100 to $2,850 per plan year. Adoption Assistance…
There’s another item you can use your pre-tax benefits for: at-home COVID-19 tests. On Friday, September 10, the IRS released an update that identifies at-home COVID-19 tests as an eligible expense for Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), and certain types of Health Reimbursement Arrangements (HRAs). P&A’s vendor partner, FSA Store, offers…
As you get ready to make your Open Enrollment elections, there is a lot to consider. What benefits are right for you? What types of coverage do you want to elect and what tiers make the most sense? When it comes to your pre-tax reimbursement accounts, like FSAs and HSAs, P&A’s participant tools make…
Attention job seekers! P&A Group is hosting the last career fair of the summer on Thursday, August 26th from 3 p.m. – 6 p.m. Join us for the opportunity to learn more about our positions and get the opportunity to interview for any of the positions you’re interested in exploring. Advanced registration is not…