100 Percent COBRA Subsidy Lasts Through September
Under the American Rescue Plan Act –
- The federal government will pay 100% of COBRA insurance premiums for employees who lost their jobs because of the pandemic.
- As well as premiums for their covered relatives.
- Allowed to stay on their company-sponsored health plan.
- The coverage ends Sept. 30.
See full article here – SHRM Online
FFCRA Tax Credit Extension
The Families First Coronavirus Response Act (FFCRA) –
- Congress extended the tax credit through March 31.
- The American Rescue Plan Act extends the tax credit again through Sept. 30.
Key Points –
FFCRA remains voluntary.If your private-sector business has fewer than 500 employees, you can continue to provide FFCRA leave through 9/30/21 and collect tax credits.
Is there a new bank of leave for employees to use?Yes, each employee’s account resets to 10 days onApril 1, 2021.
Can employees use FFCRA to get vaccinated?Yes, they can. They can also use FFCRA leave to recover if not feeling well after getting vaccinated.
See full articles here – SHRM Online and Fisher Phillips
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