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| | This newsletter contains updates on the latest NFP and industry resources related to the Corporate Benefits industry. | | | |
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| | This will be our last Corporate Benefits Latest Insights for 2020.
We hope that you have a great rest of the year.
We'll see you again on January 14, 2021. Happy Holidays!
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| COVID-19 UPDATES | | | |
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| IN THE NEWS | | | |
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| CLIENT TRAINING | | | |
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| PODCASTS | | | |
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| | In this episode, Chase Cannon and Suzanne Spradley review the compliance obligations employers must review and complete prior to the end of the year for both calendar and non-calendar year plans. Chase digs into the basis of imputed income for domestic partner coverage and group term life insurance, as well as the importance of calculating and adding imputed income before the end of the year. Chase and Suzanne review the notices, tests and filings that must be completed by years’ end, including the Massachusetts HIRD filing requirement. Chase then looks forward to 2021, investigating the federal and state reporting requirements for employer mandate and state individual mandates. As the pandemic – and remote work – continues into 2021, Chase and Suzanne discuss the importance of state tax nexus and employment and income tax withholding for those working from home in a different state. The two conclude with a quick recap of the continued administrative challenges created by the DOL’s extensions to COBRA and HIPAA special enrollment deadlines via the so-called “outbreak period.” | | | | | |
| | Benefits Trend Report Podcast Series Ep. 3: Voluntary Benefits — More Essential Than Ever » | | | | | | In our latest US Benefits Trend Report podcast, Kim Bell, SVP, head of health and benefits, has a conversation with Kim Heald, NFP’s national practice leader for voluntary benefits. Kim Heald shares her perspectives on how the one-size-fits-all approach to benefits is increasingly ineffective, especially for multigenerational workforces, and the risks for employers if they don’t adapt by integrating supplemental health and lifestyle benefit options. The discussion also includes an overview of major challenges (70% of Americans are unable to save $1,000 to pay for unplanned medical expenses), how voluntary benefits can enhance employee financial stability and productivity, and an example of how voluntary benefits make a meaningful difference. | | |
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| GOOD NEWS | | | |
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| | Interested in updates on NFP’s other lines of business? | | | | |
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| | 12/17/20 20-CB-CB-GEN-0225
This information has been provided as an informational resource for NFP clients and business partners. It is intended to provide general guidance, and is not intended to address specific risk scenarios. Regarding insurance coverage questions, each specific policy must be reviewed in its entirety to determine the extent, if any, of coverage available for the impact of the Coronavirus. If you have questions, please reach out to your NFP contact. | | |
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