American Rescue Plan Act: Impact on Healthcare

President Biden signed into law the American Rescue Plan Act on Thursday, March 11, 2021. The $1.9 trillion COVID-19 relief bill includes several provisions that impact healthcare for both employers and individuals.

The Key Provisions Include:

• COBRA Premium Subsidy and Employer Tax Credit
• Expansion of Individual Healthcare Marketplace Subsidies
• Increase to Dependent Care Flexible Spending Account Maximum Limit

Other Provisions That Impact Employers:

• $7 billion to the U.S. Small Business Administration (SBA) for the Paycheck Protection Program (PPP).
• $15 billion to the SBA for EIDL $10,000 grants to small businesses.
• $25 billion to the SBA for the Restaurant Revitalization Fund grant program.

Get the details and helpful resources.

Harris Poll: COVID-19 Impact on Californian's Healthcare

From February 2 to February 15, 2021, Blue Shield of California/Harris Poll surveyed 1,000 adults in California to gauge access to health care, comfort levels with workplace and public safety, and opinions of healthcare policy.

The Findings Include:

• A vast majority of Californians (80%) say they have good or somewhat good quality health care.
• 82% who used telemedicine were satisfied with the service.
• Many say the COVID-19 pandemic disrupted the health care they receive.

Learn more and access the infographic.

2021 SMB Benefits and Employee Insights Report

According to the recently released Ease 2021 SMB Benefits and Employee Insights Report, business decision makers are coping with healthcare increases by seeking ways to balance meaningful access and quality care with affordability. The report also offers a glimpse into how COVID-19 impacted SMB benefits, as well as shifted the way employees interact with their benefits.

The Report Features Insights and Trends On:

• Medical Premiums and Contributions
• Health Plans Offered and Types
• Voluntary Benefit Trends and Analysis
• SMB Growth
• Impact of COVID-19

To better understand the latest trends in healthcare and voluntary benefits, and advise your clients, download the Ease Report.

Year-End HSA and FSA Tips and Reminders

Help your clients make the most of their accounts with the following tips and reminders.

Health Savings Accounts (HSA)
Accountholders can make contributions to their 2020 plans until tax day 2021. View the video to learn how.

FSA Year-End Statements
Sterling's Year-End Statement will show you how much is left to spend in your account and your deadlines for spending and reimbursement. The statement may include information on Rollover, Grace Period, or Run-Out Period.

Learn about HSA and HDHP contributions and limits, and how to access FSA Year-End Statements.

Get The Latest News with Text Messaging!

Your success is important to us, and we’re actively working on new solutions to support you throughout the year. To get the latest news via text messaging in the future, simply provide your cell phone number here.

As always, we'll keep you informed about healthcare issues and news affecting you and your clients. Our knowledgeable team is here to help you succeed.

Questions?
Contact your Claremont team at 800.696.4543 or info@claremontcompanies.com.