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Author Archives: hoffman

IRS Releases Updated Form 720 Used For PCORI Fee Payments

As we recently reported, on June 8, 2020, the IRS released the applicable PCORI fee for plan years ending between October 1, 2019 and September 30, 2020.  As we indicated in that alert, an updated Form 720 had not yet … Continue reading

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IRS Relaxes Election Change, Other Rules for Cafeteria Plans and FSAs

As the country continues to feel the impact of the COVID-19 National Emergency declared by President Trump on March 13, 2020, the IRS has provided some much needed guidance and relief for employees.  On May 12, 2020, the IRS issued … Continue reading

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Agencies Extend Deadline to Pay COBRA Premiums

Extend Certain Other ERISA and Internal Revenue Code Deadlines Due to COVID-19 The impacts of the COVID-19 National Emergency, as declared by President Trump on March 13, 2020, have been vast.  As a result, many employers and employees are struggling … Continue reading

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COVID-19 Essential Employees, Thank you

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Private Passenger Auto Giveback Program

By Mercury Insurance April 8, 2020 Recognizing that many customers are driving their vehicles less as a result of shelter-in-place actions, Mercury plans to giveback 15% of monthly premiums for April and May 2020. This applies to all Mercury Private … Continue reading

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Progressive returns $1 billion in premium to customers

Today we announced that we’re providing credits of approximately $1 billion in premium to Progressive personal auto customers as a result of fewer claims that come with less frequent driving. Subject to approval by state regulators, Progressive personal auto customers … Continue reading

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Understanding the Historic $2 Trillion Stimulus Package

The Coronavirus (COVID-19) pandemic has put a major strain on every aspect of daily life around the world, including the United States. As spread of the disease shows no sign of slowing down, there is a steadily increasing concern in … Continue reading

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New Details On The Cares Act

Written by: John D. Martin, CPA J. Martin & Company, PC   On Friday, March 27th, President Trump signed into law the Cares Act.  With this passage and additional analysis on the Families First COVID-19 Response Act, we are beginning … Continue reading

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Payment and Grace Period Flexibilities Announced

The Centers for Medicare & Medicaid Services (CMS) posted guidance on Payment and Grace Period Flexibilities for Issuers Offering Coverage on the Federally-facilitated Exchanges and State-based Exchanges on the Federal Platform. Under the newly released guidance, CMS announced that it … Continue reading

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Congress Agrees to $2 Trillion Coronavirus Relief Bill

On Wednesday, March 25, 2020—after days of debate—Congress agreed to a $2 trillion economic rescue package designed to provide financial assistance to Americans and their families, and billions of dollars in loans for businesses. Voting is expected midday. The package … Continue reading

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