November 2024 Dear HR Manager | Seeking Effective Reviews Workplace Culture | Building a Culture of Mental Health Support Employee Benefits | Empowering Employees with Flexible Perks

Nov. 5, 2024 October brought the second of two Centers for Medicare & Medicaid (CMS) Medicare Part D annual disclosures, in the form of Creditable Coverage Letters. The IRS released the 2025 cost-of-living adjustment information affecting employee benefit plans. We were reminded that while there are no federal requirements for time off to vote, many states mandate it. Employers sponsoring an individual coverage HRA (ICHRA) should have provided their annual notice to plan participants. An FAQ was released providing guidance on the requirements of the Women's Health and Cancer Rights Act. As open enrollment begins for many employers, remember important tips to remain compliant.

Oct. 30, 2024 As we approach 2025, it's essential for employers to stay informed about the updated cost-of-living adjustments (COLAs) that impact employee benefits. Recent IRS updates affect key programs such as flexible spending accounts (FSAs), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs), transportation fringe benefits, adoption assistance, and health savings accounts (HSAs). Understanding and implementing these changes can help optimize tax advantages, maintain compliance, and support employees in managing their healthcare and other related costs. This Advisor highlights the 2025 limits for these key benefits and provides actionable steps employers should take to ensure proper integration of these changes into their benefits packages.