EBSA Disaster Relief Notice Update 2021-01
Updated March 10, 2021
EBSA Disaster Relief Notice 2020-01
COBRA Deadline Extensions
Updated May 12, 2020
On April 28, 2020, the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) issued guidance providing significant deadline extensions and other relief to assist employee benefit plans, plan participants and beneficiaries, employers and other plan sponsors, plan fiduciaries, and other service providers impacted by the COVID-19 outbreak. The guidance applies to health and welfare plans and retirement plans and follows the March 13, 2020 declaration of a federal emergency resulting from the COVID-19 pandemic.
Updated DOL guidance on FSA and HRA claims timeframes
On April 29th, the US Department of Labor (DOL) published additional guidance related to COVID-19 pandemic that extended certain claims deadlines associated with health care FSA and HRA plans. The guidelines are intended to help FSA and HRA participants who were unable to submit claims within required timeframes because of the COVID19 pandemic.
FSA and HRA
For any FSA or HRA with a run-out period ending March 1, 2020 or later, the new rules have extended the run-out period for FSAs and HRAs beyond when the COVID-19 pandemic is no longer a nationally declared emergency. This gives participants additional time to submit receipts for reimbursement of any qualified expenses incurred before the end of their plan year. The top questions from clients and consultants are:
- Will AccrueCMS notify FSA participants that there is an
extension to file claims?
We’ll be adding an informational banner to participant’s online accounts to notify them of the extension.
- Does the extension apply to the grace period?
No, the grace period was not addressed in the new rules.
- Will carryovers be reversed?
We will continue to carryover balances for employers that offer this as a part of their plan design. Balances can be reversed to support claims filed during the extension.
Important COVID FSA and HSA Impacts and Legislation Changes
The CARES Act (COVID-3 Stimulus Bill)
Updated March 31, 2020
The “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” was signed into law on March 27, 2020. What exactly does this mean? This new bill contains many employee benefit-related items. The revisions permanently reinstate coverage of over-the-counter (OTC) drugs and medicines as eligible for reimbursement from FSAs, HRAs, and HSAs without the necessity of a prescription, assuming the employer’s plan documents allow so. It further expands the definition of qualified OTC items to include eligible menstrual care products that can be purchased with these funds. This change is effective for expenses incurred on or after January 1, 2020.
As the industry makes this important transition, the implementation of the new eligible item list will gradually occur over the next 4-6 weeks.
Have questions or interested in learning more about HSAs, FSAs and other common benefits? Visit our Contact page now.
Stay at Home Order
Updated March 25, 2020
In accordance with the Stay at Home order our offices are closed but our staff is working remotely. We ask for your patience and understanding during this period while we adjust to this new work environment.
Our goal is to provide the same level of service we would normally working from our offices.
Our customer service telephone lines are open but being rerouted to each employee’s home. As a result, you may experience some voice service interruptions. We ask that your first line of communication be via email and one of our representatives will reach out to you via email or phone call.
CUSTOMER SUPPORT EMAIL ADDRESSES:
We will continue monitoring conditions and will be making adjustments as needed to support our customers and keep our employees safe.