On Thursday, May 20, North Risk Partners is hosting a webinar covering the American Rescue Plan Act (ARPA). In this webinar, they will be discussing the key employee benefits provisions listed out in the act and help guide employers though those provisions.
According to The White House website, the ARPA’s main points of focus are providing direct relief to the American people like a $1,400 stimulus to qualified individuals, giving support to schools, extending unemployment insurance, providing support for small businesses, and continuing to combat the pandemic while giving guidance surrounding the COVID-19 vaccinations.
In relation to the ARPA’s employee benefits-related provisions, North Risk Partners’ webinar will cover:
- The enhancements to and extension of the FFCRA paid leave programs
The FFCRA paid leave program requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.
- The increase to the dependent care assistance program (DCAP) reimbursements
The ARPA will be temporarily increasing the maximum amount that DCAP qualified individuals can exclude from their annual income to $10,500.
- A two-year enhancement of the ACA’s premium tax credits
This includes a child tax credit, earned income tax credit, and child and dependent care tax credit.
- A 100% COBRA subsidy from April 1, 2021 – September 30, 2021
Under the ARPA, the federal government will pay 100 percent of COBRA insurance premiums for eligible employees who lost their jobs and for their covered relatives through September 2021, allowing them to stay on their company-sponsored health plan.
If you’re interested in learning how all of these affect you as an employer or employee, sign up here to hear from industry professionals.