Our first priority is helping you take care of your business and your employees. In these troubling times, we are right there by your side as we both deal with the impact of the novel Coronavirus (COVID-19).
That is why we developed this page to host all of the necessary links to important resources as well as some materials we have developed ourselves to address any of your Employee Benefits, Property & Casualty and Financial Services concerns.
Employers with employees returning to work after a leave of absence, reduction in hours (e.g., furlough) or termination of employment (e.g., layoff) may have questions about the implications for medical benefit eligibility and the effect on the ACA’s employer shared responsibility rules. This article aims to bring some light to those areas of concern.
The Beacon Group of Companies hopes you and your families are doing well during these unprecedented times. To ensure you are informed of the latest updates to your group health plan we have put together this quick vlog listing some of the most recent benefits enhancements. Stay Safe. Stay Home. Stay Healthy.
On April 11, 2020, the Departments of Labor, the Treasury, and Health and Human Services (“HHS”) (collectively, “the Departments”) issued FAQ Part 42, which includes implementation guidance on the health coverage aspects of the Families First Coronavirus Response Act (“FFCRA”) and the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), as well as other health plan issues related to COVID-19. In addition, the Department of Labor issued corrections to its regulation on the FFCRA to fix an inconsistency regarding concurrent use of employer-provided paid time off and paid expanded family medical leave under the FFCRA. This Article is a brief listing of those FAQs.
The Internal Revenue Service (“IRS”) issued guidance on the tax credits under the Families First Coronavirus Response Act (“FFCRA”). This guidance covers a variety of topics including how to calculate and claim the tax credit, how to determine the amount of the tax credit and documentation requirements to verify eligibility for the tax credits.
On March 27, 2020, in response to the COVID-19 global pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. The Act contains a few key provisions designed to assist retirement plan participants and IRA account holders who are struggling financially during these unprecedented times. Here are some frequently asked questions regarding these key provisions.
On March 27, 2020, President Trump signed the CoronavirusAid, Relief, and Economic Security Act (the “CARES Act”) into law. It provides support to individuals and businesses that are trying to cope with the coronavirus disease 2019 (“COVID-19”) pandemic. This Bulletin will focus on the parts of the CARES Act that are directed towards employee benefit plans and employee leaves of absence.
When it comes to your investments, all you can really control is how you react. Sticking to sound, fundamental investing principles and staying the course will help you make it through this difficult time. Here are some practical tips for surviving market volatility in the face of what may seem like an extraordinary crisis right now.
The Department of Labor (“DOL”) has issued multiple forms of guidance including Fact Sheets, Questions and Answers, Posters, and a Field Assistance Bulletin to clarify and address the Families First Coronavirus Response Act (the “FFCRA”). This article is a summary of the highlights of the guidance.
On March 20, 2020, the Internal Revenue Service, Department of Treasury and Department of Labor announced that under the new Families First Coronavirus Response Act, employers with less than 500 employees will be able to take advantage of two new refundable payroll tax credits which were created to immediately and fully reimburse them for the cost of providing COVID-19 leave to their employees. The intent behindthese tax credits is to enable employers to keep their workers on their payrolls and ensure they are not forced to choose between their paychecks and the public health measures necessary to combat the virus.
On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (the “CRA”). As enacted this legislation mandates, among a number of revisions, that all employer-sponsored health plans cover COVID-19 testing. FMLA and sick leave laws have also been revised within this act.
We have developed a list of Workplace Actions to combat COVID-19 as well as some tips in the event employees are exposed or show symptoms.
As the new coronavirus disease 2019 (“COVID-19”) continues to spread, many employees are wondering whether there is coverage under their medical plan and whether they can take a leave of absence. This article provides some highlevel information intended to address these inquiries.