Overview of the American Rescue Plan
The $1.9 trillion relief bill, known as the American Rescue Plan, has been signed into law by President Joe Biden.
DOL Issues New Q&As About FFCRA Leave Requirements
The U.S. Dept. of Labor (DOL) has issued two additional Q&As regarding employee leave under the Families First Coronavirus Response Act (FFCRA).
Stimulus Bill Includes Temporary Special Rules for FSAs
On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 into law. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs) that give employees additional time to use these funds.
SBA’s PPP Portal Opens for Second Round of Loans
The U.S. Department of Treasury and the U.S. Small Business Administration (SBA) recently announced that beginning Monday, Jan. 11, applications will be accepted for the second round of loans in the SBA’s Payment Protection Program (PPP).
Stimulus Bill Includes Ban on Surprise Medical Bills
On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 into law. The Act includes a $900 billion coronavirus relief package that provides funding for unemployment benefits, direct economic payments to individuals, vaccine distribution and rental assistance. It also includes the No Surprises Act, a ban on surprise medical bills, which takes effect beginning in 2022.
Stimulus Bill Extends FFCRA tax Credits
A stimulus bill, which was signed into law on Dec. 27, 2020, does not extend the leave mandates created by the Emergency Family and Medical Leave Expansion Act (EFMLA) and the Emergency Paid Sick Leave Act (EPSLA), which expire on Dec. 31, 2020.
Affordability Percentages Will Increase for 2021
The IRS issued Revenue Procedure 2020-36 to index the contribution percentages in 2021 for determining affordability of an employer’s plan under the Affordable Care Act (ACA).