A Review of the New IRS Guidance on COBRA Subsidies
On May 18, 2021, the IRS issued the COBRA subsidy guidance we’ve all been waiting for. Notice 2021-31 provides guidance on employer tax breaks under the American Rescue Plan Act (ARPA) for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA).
The guidance includes:
- Information regarding the calculation of the credit,
- The eligibility of individuals,
- The premium assistance period, and
- Other information vital for employers and plan administrators
If you're feeling bogged down in the legalese, benefits compliance attorney Marilyn Monahan will explain the guidance in layperson terms this Monday, May 24.
[Legal Webinar] COBRA Subsidies: A Review of the New IRS Guidance
Lumity is hosting a complimentary, 75-min webinar with Marilyn Monahan to walk employers through the new IRS guidance. The presentation should run about 50 minutes with time built in for Q&A.
Monday, May 24 at 11a PT | 2p ET [Register]
- Who is eligible?
- Who pays for the subsidies?
- What are the employer notice obligations?
- How does this interact with the Outbreak Period?
- And more FAQs!
With the May 31st deadline quickly approaching to provide the new COBRA model notices to assistance eligible individuals (AEIs), it's an opportunity to get answers to your lingering questions.
I'll be moderating the questions, and I expect there will be plenty. The program is valid for 1.25 PDC for the SHRM-CP or SHRM-SCP. I hope you can join us!