Reimbursement of gym memberships, via employer benefit programs, were popular prior to March 2020 (AKA – pre-COVID-19) but since the pandemic shut-down gyms have become obsolete and these types of reimbursements may not be feasible for employers in the future. Many in the fitness industry believe that with the cleaning protocols and restrictions that have been put in place, that the gym industry may never be the way it was,…
Premium Tax Credits became a new keyword for individuals in healthcare, when the Affordable Care Act was implemented. The American Rescue Plan will now include the availability of Premium Tax Credits (PTC) to those who earn 400% or more of the Federal Poverty Level (2021 & 2022). Today, PTCs are only applicable for those people that earn between 100% – 400% of the FPL (about $12,760 to $51,040 for an…
In continuation with our discussion about the American Rescue Plan, one of the most talked about topics is the COBRA subsidies included in the plan. The ARP will subsidize the entire cost of premiums for COBRA continuation coverage for anyone that was laid off or had reduced hours. This was previously passed to cover 85% of the cost but was later increased to 100%. This subsidy will begin on April…
On March 10, 2021, Congress put the American Rescue Plan Act of 2021 into effect. This 1.9 trillion package includes a variety of policies to provide further relief for the COVID-19 pandemic. This includes but is not limited to $1,400 checks, funding for the COVID-19 public health response, unemployment benefits, extensions of paid sick leave, state and school funding, the new child anti-poverty measures and housing assistance. The ARP package…