FSA/DCA Relief Guidance
In December of 2020 the Consolidated Appropriations Act of 2021 was signed into law. It contains nearly $1 trillion in COVID-related relief, including temporary relief for Health FSA’s and DCA’s. OCA hosted a webinar on Thursday, January 14th, 2021 to address these changes.
Our status for today is Green
As we all continue to navigate the COVID-19 situation and its ripple effect on our businesses and personal lives, OCA continues to be laser-focused on protecting our clients and business operations to prevent any potential disruption to our service delivery. Given our shift to work-from-home operations and other proactive measures we have undertaken, we have decided to provide proactive updates as often as we can over the next week or two. Our intention is to give you complete confidence that we are here for you, and that you can expect “business as usual” from us. Tip of the day: During this time, employers should be aware of all their COBRA obligations, procedures, and timelines to ensure they remain in compliance with government regulations. Failure to comply with COBRA can lead to significant financial consequences. Visit OCA’s COBRA Compliance Toolkit by clicking here.
OCA’s latest COVID-19 Alerts
COBRA/COVID-19 Extensions Process
COBRA Extension Communication Notices Include COBRA Extension Deadlines On April 29, 2020, the Federal government extended certain COBRA deadlines for COBRA Qualified Beneficiaries should they need additional time due to the current COVID-19 pandemic. The government...
PCORI Fee Overview
PCORI Fee The Affordable Care Act imposes an annual fee called the Comparative Effectiveness Research Fee.PCORI In a Nutshell The Affordable Care Act imposed a fee on applicable self-insured health plans (i.e. HRA plans) to help fund the Patient-Centered Outcomes...
OCA’s “Smart Account” Mobile App
OCA is pleased to announce the new release date for our enhanced "Smart Account" mobile app! On May 22nd, we will submit the updated Smart Account app to Google Play and the Apple App Store. The app should then be available the week of May 25th, but could stretch into...
IRS Provides Flexibility For FSA’s and DCA’s
To assist with the nation's response to the Coronavirus outbreak, the IRS has issued a number of extensions and relief offerings to employee benefit programs such as Health FSAs, Dependent Care Accounts, etc. On May 13th the IRS issued Notice 2020-29 which provides...
IRS and DOL Provide Relief Due to COVID-19
Relief for Participants and Plan Sponsors from Certain Time Deadlines Summary of the Guidance Recognizing the impact of the COVID-19 Pandemic, the Internal Revenue Service and the Department of Labor have released guidance that extends various requirements and...
Claim Submission Extensions
The Impact of Claim Submission Extensions on HRAs and FSAs Last week the Internal Revenue Service and the Department of Labor released guidance that extends the period of time that a participant has in enrolling in coverage under a health plan, paying for...
COVID-19 Frequently Asked Questions
COVID-19 is an unprecedented, once-in-100 years global event, and we’re all learning to navigate it together as we go. OCA has provided a list of the most frequently asked legal and compliance questions related to the COVID-19 crisis and consumer-directed healthcare (CDH). The following is an overview of the types of situations that might arise as a result of the pandemic and whether such situations will permit an election change.
Subscribe for More Great Articles!
Stay informed on our press release history, read our latest media coverage, hear our interpretation of industry trends and direction, and catch up on recent industry news.