FAQs

An employer can provide tax-free student loan payment assistance only through a formal education assistance program. If they do not have one in place, they must adopt one. Otherwise, the benefit cannot be provided on a tax-free basis.The CARES Act added (and the CAA, 2021 extended) "eligible student loan repayments" to the list of items that can be reimbursed under an educational assistance program under Code Section 127. That list also includes, but is not limited to, tuition, fees, and simila

Provided you are HSA-eligible for the entire calendar year, you can contribute up to the applicable IRS annual family HSA contribution limit ($8,300 for 2024, $7,750 for 2023) to an HSA. If you are 55 or older at year-end, you can also contribute an additional $1,000 catch-up contribution. Your domestic partner, if HSA-eligible, can also contribute the family maximum (and, if applicable, a catch-up contribution) to their own HSA. To review, to be eligible to make (or receive) HSA contributions,

Under ERISA, the plan administrator is obligated to provide certain documents to any participant or beneficiary under the plan when requested in writing. The documents that must be provided include the latest updated SPD (including interim summaries of material modifications), the latest annual report (i.e., Form 5500), any terminal report (i.e., final Form 5500 for a terminated plan), any bargaining agreement, any trust agreement, and "any contract or other instruments under which the plan is

For the first question, the answer is yes, if the carrier (for fully insured benefits) or stop-loss carrier and TPA (for self-insured benefits) allow the plan sponsor to extend eligibility to part-time employees. Employers need to ensure the eligibility criteria is clearly defined, properly documented in plan documents, and communicated effectively to employees. This should include information on how part-time hours are calculated to ensure only those who are truly eligible receive an offer of

No. While the ACA requires applicable large employers to offer their full-time employees (and dependents) the opportunity to enroll in affordable minimum value coverage under an eligible employer-sponsored plan, this requirement does not apply to independent contractors, assuming they are properly classified as such. The analysis used for purposes of the ACA is similar to but not precisely the same as that used for other employment classifications such as that used for determining worker status