August 2024 Employer Regulatory and Legislative Update | CBIZ

August 2024 Employer Regulatory and Legislative Update | CBIZ, Inc.

Home /  Insights / Articles / Article Details

This regulatory and legislative update covers issues involving creditable coverage, telehealth services, reproductive health care protections and more.

It is Creditable Coverage Time | Learn More

Employers offering prescription drug coverage must provide annually to Medicare-eligible individuals a Notice of Creditable Coverage. Beginning in 2025, the Inflation Reduction Act changes the nature of Medicare Part D which may impact the creditable status of an employer’s prescription drug program.

The Telehealth/HSA Romance Comes to an End | Learn More

For plan years beginning in 2025, telehealth services will be subject to the minimum HSA statutory deductible in order to preserve HSA-eligibility.

Reproductive Health Care Protections | Learn More

Final rules issued by the Department of Health and Human Services adds reproductive health care to the list of protected health information and protects use and disclosure of such information.

Section 1557 Challenges Continue | Learn More

Section 1557 is the ACA’s antidiscrimination portion of the law. Final regulations which were issued in April are being challenged.

Fiduciary Investment Rule Stayed | Learn More

In April, the Department of Labor issued final rules related to fiduciary investment advice which were to take effect September 23, 2024. Challenges have been filed and the court has lifted the effective date of these rule while the issue is addressed by the courts.

Rhode Island Increases Temporary Caregiver Leave | Learn More

Temporary Caregiver Leave increases to 7 weeks beginning January 1, 2025, and 8 weeks beginning January 1, 2026

California PFL Small Business Grant Program | Learn More

Beginning June 1, 2024, businesses with between 1 and 100 employees can apply for a grant to help offset expenses incurred in complying with the state’s paid family leave law.

Massachusetts: 2025 Minimum Creditable Coverage Amounts | Learn More

Massachusetts has issued the minimum creditable coverage cost of living adjustments for the 2025 tax year.

Minnesota Pregnancy and Parental Leave | Learn More

Beginning August 1, 2024, a pregnant employee can take leave for prenatal care medical appointments without it counting against an employee’s pregnancy and parental leave.

Michigan’s Paid Sick Leave Law Changes Again | Learn More

Michigan’s Supreme Court opines that the state legislature violated Michigan’s constitution when it adopted and amended two ballot initiatives in the same legislation session. The opinion reinstates the Wage Act and the Earned Sick Time Act. Employers have to comply by February 21, 2025.

© Copyright CBIZ, Inc. and CBIZ CPAs P.C. (together, “CBIZ”). All rights reserved. Use of the material contained herein without the express written consent of the firms is prohibited by law. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

CBIZ is the brand name for CBIZ CPAs P.C. and CBIZ Advisors, LLC (together), a national professional services company providing tax, financial advisory and consulting services to individuals, tax-exempt organizations and a wide range of growth-oriented companies. CBIZ Advisors, LLC is a fully owned subsidiary of CBIZ, Inc. (NYSE: CBZ). CBIZ CPAs P.C. is an independent CPA firm that provides audit, review and attest services, and works closely with CBIZ, a business consulting, tax and financial services provider. CBIZ and CBIZ CPAs P.C. are members of Kreston Global, a global network of independent accounting firms. This publication is protected by U.S. and international copyright laws and treaties. Material contained in this publication is informational and promotional in nature and not intended to be specific financial, tax or consulting advice. Readers are advised to seek professional consultation regarding circumstances affecting their organization.

August 2024 Employer Regulatory and Legislative Update | CBIZ, Inc.https://www.cbiz.com/Portals/0/BiReskinImages/Hero Images/hero_image_3.jpg?ver=2020-11-24-160620-267As businesses are increasingly focused on reopening and rebuilding, it’s important to stay on top of regulatory and legislative matters to ensure continued compliance.2024-08-08T17:00:00-05:00This regulatory and legislative update covers issues involving creditable coverage, telehealth services, reproductive health care protections and more.Regulatory, Compliance, & LegislativeEmployee Benefits ComplianceAccelerated RecoveryCOVID-19No

    Your Team is always ready, no matter what you need. Connect with an expert today.

    Connect with Us