Question: Are an employee’s daycare/nanny costs eligible for reimbursement under the dependent care FSA when the employee’s spouse is a new birthing mother who is disabled while on maternity leave? Compliance Team Response: Dependent Care Expenses Must be “Employment-Related” Employees’ dependent care expenses are eligible for reimbursement under the dependent care FSA only if […]
Question: When are summer dependent care expenses reimbursable under the dependent care FSA? Compliance Team Response: Summer Day Camps: Eligible Expense Day camps for qualifying individuals (generally children under the age of 13) are eligible expenses. These expenses qualify even if the camp specializes in a particular activity, such as computers or soccer. Important Timing […]
Governor Phil Murphy signed Senate Bill 1567 into law March 1, 2019. Under the bill, employers subject to New Jersey’s unemployment compensation law that employ 20 or more employees in the state of New Jersey are required to provide pre-tax transit benefits to all employees not currently covered by a collective bargaining agreement. What Transit […]
Current New Jersey Family Leave Act Employers with 50 or more employees anywhere worldwide must provide unpaid family and medical leave to employees who have been employed for 12 months and have worked at least 1,000 hours for the covered employer during the previous 12 months. This is a job protected and benefits protected leave […]
Question: Are ERISA self-insured health plans required to provide coverage for state insurance mandates? Compliance Team Response: State insurance mandates do not apply to self-insured health plans subject to ERISA. For these purposes, “self-insured” refers to any plan option that is not fully insured. For example, a level-funded plan is treated as a self-insured plan […]
Since the beginning of my career in marine insurance, I’ve learned that staying on top of changing regulations, insurance jargon, and underwriting considerations is absolutely necessary for providing high-quality service in a field as specialized as the maritime industry. Fortunately, ABD recognizes the value in investing in the education and careers of their employees, so […]
At ABD, we’re passionate about the growth of each person here. We are a learning organization and proudly invest in our team members through training and development. We develop our expertise as part of our culture, to better service our clients and to help us reach our company objectives. We do this in a number […]
Question: What are the issues preventing an employer from reimbursing an employee’s out-of-pocket medical expenses? Compliance Team Response: Overview The main concern is that an employer’s reimbursement of a medical expense creates a group health plan that has to comply with the full array of laws governing employer-sponsored group health plans. Medical expenses are defined […]
This is the fifth installment in the ABD M&A Advisory series titled “Finding the Upside in the Downturn” Private equity firms have always looked for ways to take advantage of cost sharing among their portfolio companies. As a result, a role was created at many private equity firms in which individuals became solely responsible for spearheading […]
Last week, ABD ranked among the Best Places to Work in the Bay Area. This award matters to us; it is a measure of our culture and engagement and a goal we set for ourselves every year. And it is especially meaningful as we help our clients with their own cultures by providing the service […]
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