Benefit Beat - 2011 through current

November 09, 20232024 COLAs - Health FSA, Qualified Transportation and More

On November 9, 2023, the IRS released the 2024 inflationary (cost of living) adjustments relating to several types of benefits. Here are select highlights from IRS Revenue Procedure 2023-34.

In a recently issued pressrelease, the Employment Security Department indicates that premium rates willslightly decrease in 2024 to 0.74% from 0.8% in 2023.

November 08, 2023New Jersey TDI and PFL rates for 2024

Contributions for temporary disability remain the same as2023 while contributions for paid family leave increase in 2024.

New York updates its contribution and benefit amounts for paid family leave in 2024.

Beginning November 1, 2023, employees will be permitted totop off his/her weekly benefit using accrued paid leave, such as PTO, tosupplement the paid family leave benefit.

Maryland’s Department of Laborhas set the contribution rate at 0.90% of covered wages up to the SocialSecurity cap beginning October 1, 2024.

November 07, 2023California Leave Enhancement

California amends its paid sick leave law and requires unpaid leave for a reproductive loss event beginning January 1, 2024.

The Department of Health and Human Services has issued civil penalties specific to HIPAA privacy, summary of benefits and coverage, and Medicare secondary payer compliance.

November 07, 2023Annual PCORI Fee and Filing

The PCORI fee increases to $3.22 per covered life for policy and plan years ending between October 1, 2023, and before October 1, 2024.

The Centers for Medicare and Medicaid Services has issued2024 cost of living adjustments for Medicare Parts A, B and D.

The Social Security Administration announced a 3.2% cost of living adjustment for 2024.

Notice 2023-75, issued by the IRS, sets forth the 2024 COLAsapplicable to defined benefit and defined contribution plans.

November 06, 2023Cross Plan Offset Challenges Continue

A recent Department of Labor settlement with Emblem Health,a New York insurer and TPA, reminds us that the issue of cross plan offsettingcontinues to be problematic.

November 03, 2023Gag Clause: An Employer’s Perspective

The first attestation of the gag clause prohibition isDecember 31, 2023. Following is a brief walk-through of the attestationprocess from the perspective of a plan sponsor.

Massachusetts has issued the minimum creditable coverage (MCC) cost of living adjustments for the 2024 tax year.