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About this Blog
Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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Get Ready, Get Set, to Cover COVID-19 Vaccines for Free
Last month, we reported that Moderna was seeking FDA authorization for its COVID-19 vaccine and reminded readers about the immunization coverage requirements in Section 3202 of the CARES Act in our SW Benefits Blog, “Free COVID-19 Vaccine and Testing Update.” … Continue reading
Posted in Employee Benefits, Health & Welfare Plans
| Tagged CARES Act, covid-19, Group health plans
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Free COVID-19 Vaccine and Testing Update
On November 30, Moderna announced that it is seeking FDA authorization for its COVID-19 vaccine. In addition, on November 17 the FDA issued an emergency use authorization for the first COVID-19 diagnostic test for self-testing at home. With these recent … Continue reading
Posted in Health & Welfare Plans, Health Care Reform
| Tagged covid, covid-19, fda, health plans, moderna, testing, vaccines
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IRS Confirms Major Disaster Leave-Sharing Program Use for COVID-19 Pandemic
On August 3, 2020, the IRS posted a short set of frequently asked questions for leave-sharing programs which confirm that major disaster leave-sharing programs under IRS Notice 2006-59 can be used for employees who have been adversely affected by the … Continue reading
Posted in Employee Benefits
| Tagged covid-19, IRS, leave donation, leave sharing, major disaster
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COVID-19-Related Cancellations of NQDC Elections
As a general matter, deferral elections under non-qualified deferred compensation plans (“NQDCs”) cannot be cancelled unless a NQDC plan participant incurs an “unforeseeable emergency” or “disability” as each such term is defined in Section 409A of the Internal Revenue Code. … Continue reading
Posted in Executive Compensation
| Tagged CARES Act, covid-19, elections, furlough, lay off, nonqualified deferred compensation, nqdc, reduction in hours
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In Case You Missed It … Recent Posts From the SW Benefits Update
We periodically consolidate our prior blog posts and push them out as a single package to help individuals catch up on what they might have missed with respect to important health and welfare, qualified retirement plan, and executive compensation issues. … Continue reading
Posted in Employee Benefits, Executive Compensation, Health & Welfare Plans, Health Care Reform, Qualified Retirement Plans
| Tagged blog, CARES Act, covid-19, Executive Compensation, health and welfare, retirement plan, roundup
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CARES Act Enables Employers to Assist with Student Loan Repayments
The Coronavirus Aid Relief and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, provides employers with a new mechanism to assist their employees with repayment of student loans. Section 2206 of the CARES Act amends … Continue reading
Posted in Employee Benefits, Health & Welfare Plans
| Tagged CARES Act, covid-19, educational assistance, Section 127, Section 2206, Student Loans
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Two Leave-Sharing Program Options for Employers During the COVID-19 Pandemic
As employers cope with the COVID-19 pandemic, they may consider leave-sharing programs as a method to permit employees to donate paid leave to their coworkers. Leave-sharing programs that are properly structured under Internal Revenue Service (“IRS”) guidance permit exclusion of … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged covid-19, leave sharing, major disaster, stafford act
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Salary Deferrals in the Time of COVID-19
As the saying goes, “drastic times call for drastic measures” and, from an economic standpoint, these are drastic times. To fight the battle to stay in business many employers are considering a wide range of alternatives, including employee furloughs, layoffs … Continue reading
Posted in Employee Benefits, Executive Compensation, Qualified Retirement Plans
| Tagged 409A, coronavirus, covid-19, deferred compensation, pandemic, salary deferral
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Trump Signs Act Mandating Group Health Plans Cover COVID-19 Testing For Free
On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (“FFCRA”) requiring group health plans to cover COVID-19 testing for free and without preauthorization. This means no deductibles, no copays, and no coinsurance. More details regarding the … Continue reading
Posted in Health & Welfare Plans, Health Care Reform
| Tagged covid-19, employer health plan, FFCRA, group health plan, HDHP, virus
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