Insights

On March 25, 2022, the IRS released an Information Letter on whether an expense qualifies as medical care under Code §213. As stated, health savings accounts (HSAs), health flexible spending accounts (FSAs) and health reimbursement accounts (HRAs) may only reimburse employees for amounts spent on 'medical care' as defined in Code §213(d). That definition includes 'amounts paid for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structu

The IRS recently released proposed regulations to update the mortality tables under Code Section 430 that apply to single-employer defined benefit pension plans. The regulations are proposed to be effective for plan years beginning in 2023. Amongst other purposes, the Section 430 mortality tables are used to determine a pension plan's minimum funding requirements and minimum lump sum distribution amounts. These tables must be updated at least every 10 years to incorporate the actual mortality

On May 3, 2022, the IRS released Revenue Procedure 2022-24, which provides the 2023 inflation-adjusted limits for HSAs and HSA-qualifying HDHPs. According to the revenue procedure, the 2023 annual HSA contribution limit will increase to $3,850 for individuals with self-only HDHP coverage (up $200 from 2022) and to $7,750 for individuals with anything other than self-only HDHP coverage (family or self + 1, self + child(ren), or self + spouse/domestic partner coverage), an increase of $450 from 2

Recently, the Massachusetts Department of Family and Medical Leave (the 'Department') updated Massachusetts Paid Family and Medical Leave (MAPFML) program resources for employers and employees to provide additional guidance and clarifications through frequently asked questions and other online publications. The updated guidance describes how employers' paid leaves and MAPFML benefits coordinate, and how employees can check the status of their PFML payments and report other leave(s) and income o

In 2006, the social media tag '#MeToo' was coined by Tarana Burke, a survivor of sexual assault, as a way to help other girls and women of color who also survived sexual assault. On March 3, 2022, President Joe Biden signed into law the 'Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act' (the Act). The Act, which had bipartisan support, invalidates pre-dispute arbitration agreements with respect to cases filed under federal, state or tribal law that prevent a party from fi

Join Rick Cavaliere, Senior Vice President of Cyber, and Rick Otis, Vice President, from NFP as they discuss current claims in the construction industry, which are impacting your financial results and could harm your reputation. They also outline best practices and cyber security controls to prevent such claims and when necessary, how to respond to lessen the potentially catastrophic event. Follow the below link as this leading carrier and broker will guide you on how to engage in purchasi

Understanding what is happening in a specific market is essential for making the best decisions for your business. Knowing the latest trends and projections helps you stay agile, adjust your strategy and make smarter choices, even in a dynamic landscape. The Q1 2022 Specialty Claims Journal and Trend Report offers analysis and insight into the first quarter of the year from industry specialists, in addition to key predictions going forward. Discover the latest P&C claims activity and recent

In short, likely no. A growing number of states have implemented or are planning to implement statutory PFML programs soon. A statutory PFML generally applies to an employee who works in the state (including telecommuting) regardless of the physical office location or employee's residence state. For example, an employee who works from his or her home in California is subject to California's paid family leave (PFL) and disability insurance even if his or her company is located outside of Califor

On April 12, 2022, the DOL, IRS and HHS jointly released revised process guides for independent dispute resolution (IDR) under the No Surprises Act (NSA), enacted as part of the Consolidated Appropriations Act, 2021 (CAA). Additionally, the online Federal IDR system portal for resolving payment disputes between insurers/plans and providers for certain out-of-network (OON) charges is now open. The NSA provisions protect participants from surprise bills for OON emergency and air ambulance service