ERISA Updates due to COVID-19

As a result of the FFCRA and the CARES Acts, there have been significant changes to ERISA benefit plans. Whether or not you are a customer of ours for ERISA document preparation, you should update your document to include these new provisions.
These changes include:
  • Inclusion of over-the-counter and menstrual care items in Healthcare FSAs
  • Continuation of coverage for employees taking applicable leave
  • Potential changes to eligibility for benefits during the outbreak period.
Linked below is a sample Summary of Material Modifications (SMM) for your Health and Welfare Benefits plan. The first page is some overall insight, and there are drafting instructions in red on the second page.
Simply edit the second page to fit your plan details, and save a copy with you Plan Document. Provide a copy of the SMM to your participants, and you’re done.
Feel free to reach out with any questions you may have.