ACA Pay or Play Penalties Increase in 2021

The Adjusted Penalty Amounts for 2021 are $2,700 and $4,060 Under the Affordable Care Act’s employer shared responsibility (pay or play) rules, applicable large employers—generally those who have 50 or more full-time employees (including full-time equivalent employees)—may be subject to a penalty if they do not offer affordable coverage that provides minimum value to their…

Post-coronavirus Return-to-Work Plans and EAPs

The coronavirus (COVID-19) pandemic has changed employees’ daily lives and routines, and even as businesses reopen, many employees are feeling the effects of the pandemic. As businesses reopen, employers must consider how the COVID-19 pandemic has affected employees, which in turn will affect their post-coronavirus return to work. As employees return to work, many are…

IRS Releases 2021 Health Savings Account (HSA) Limits

Inflation-Adjusted Contribution Limits and HDHP Amounts to Increase The IRS has announced the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code. Annual Contribution Limits For calendar year 2021, the annual limit on HSA contributions for an individual with self-only coverage under a high deductible health plan (HDHP) is $3,600 (up…