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With the recent release of IRS Notice 2021-31, Employers and benefits professionals are finally receiving more direct guidance on the complexities of the ARP COBRA Premium Subsidy of 2021.
Notice 2021-31 includes an overview of the premium subsidy, as well as 86 new Frequently Asked Questions and Answers on this trending benefits topic of the year.
The premium assistance COBRA subsidy of 2021 comes with a multitude of employer responsibility from notifications, to benefits changes, to subsidized COBRA premiums. Further, the subsidy for covered employers, brings new payroll tax reporting responsibilities, in order for employers to receive the Federal tax credit on COBRA continuation coverage premiums that are being subsidized for the six month period ending September 30, 2021.
To learn more about the ARP COBRA Premium Assistance Subsidy, please also see our recent articles on this topic:
If you have any further questions regarding this COBRA subsidy, or would like assistance from My COBRA Help, contact us today. We'd be happy to get you on the right path for your needs!
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