News & Events Updated IRS guidance for employee benefits impacted by COVID-19
Updated IRS guidance for employee benefits impacted by COVID-19
An additional notice was released by the IRS on October 6, 2021, Notice 2021-58. This notice provides clarification of COBRA deadlines for the initial premium payment, measured from the original applicable deadlines, not on a rolling basis based on the COBRA election date.
Impact to COBRA (ERISA employers)
PayFlex will apply the “Outbreak Period” as outlined in Notice 2021-58 and the Disaster Relief Notice 2021-01; and to each COBRA participant in determining the acceptance of COBRA elections, initial payments, subsequent monthly payments, second qualifying events, disability extensions, and HIPAA special enrollment events.
Questions?
For more information, visit the PayFlex COVID-19 Resource Center.
Related article: U.S. Department of Labor announces guidance for employee benefit plans impacted by COVID