November 2024 Employer Regulatory and Legislative Update | CBIZ

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

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This regulatory and legislative update covers issues involving what qualifies as a medical expense, Section 1557, 2025 Cost of Living Adjustments and more.

What’s a Medical Expense and What’s Preventive | Learn More

Recent guidance provides some insight into what qualifies as a medical expense and what qualifies as a permissible preventive cost that can be covered by an HSA qualifying high deductible health plan without jeopardizing HSA eligibility.

Section 1557 - A Tortured Past | Learn More

Section 1557 is the anti-discrimination part of the Affordable Care Act.

2025 Cost of Living Adjustments – Various Benefits | Learn More

On October 22, 2024, the IRS released the 2025 inflationary (cost of living) adjustments relating to several types of benefits.

2025 Cost of Living Adjustments – Pension and Retirement Plans | Learn More

The IRS released the 2025 cost of living adjustments (IRS Notice 2024-80) applicable to defined benefit and defined contribution plans.

Massachusetts Expands Use of Paid Sick Leave to Include Reproductive Loss | Learn More

The Massachusetts earned sick time law allows employees to accrue up to 40 hours of earned sick time per year for an employee’s or employee’s family members medical appointments or for legal or medical services to address domestic violence.

Massachusetts Paid Family Leave Updates for 2025 | Learn More

Beginning January 1, 2025, the Massachusetts Paid Family and Medical Leave contribution rate will remain the same as 2024 at .88% of eligible wages up to the Social Security wage base ($176,100 in 2025).

Michigan’s Department of Labor Issues Paid Sick Leave FAQs | Learn More

Effective February 21, 2025, Michigan’s Earned Sick Time Act will replace the current Paid Medical Leave Act.

Washington Paid Family Leave Premium Rate Increases in 2025 | Learn More

The recently issued press release from the Employment Security Department indicates that premium rates will increase in 2025.

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November 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.2024-11-07T18:00:00-05:00This regulatory and legislative update covers issues involving what qualifies as a medical expense, Section 1557, 2025 Cost of Living Adjustments and more.Regulatory, Compliance, & LegislativeEmployee Benefits ComplianceAccelerated RecoveryCOVID-19No
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    "CBIZ" is the brand name under which CBIZ CPAs P.C. and CBIZ Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.

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