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COVID Confusion: How Regulations Affect FSAs, Run-Outs, & More

COVID Confusion: How Regulations Affect FSAs, Run-Outs, & More

Medcom is getting a lot of questions regarding Flexible Spending Accounts, and other tax-advantaged benefit plans, and mid-year changes. We are here to provide additional clarification in a time when that seems hard to find. We are certainly in unusual territory, and the situation and changes with the IRS are fluid. 

To date, we still have not seen that the IRS has allowed for any new mid-year election changes to FSA's in light of the coronavirus or any changes to grace periods or rollovers. Under the existing rules, the Plan Administrator generally has the right...

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6 Ways to Stay Focused While Working From Home

6 Ways to Stay Focused While Working From Home

When I dreamt of what it would be like to work remotely, I never really imagined it would be like this. I didn't think we would be in the situation, which has forced many of us to retreat to our homes, only venturing out for necessities and fresh air at the end of the day. No, I never pictured it quite like this. I thought it would be fun, focused, but, more importantly, part-time.

Many people are facing new challenges right now, one of them being work. How do we find focus amid the chaos...

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Understanding HR 6201: Families First Coronavirus Response Act

Understanding HR 6201: Families First Coronavirus Response Act

As the Coronavirus (COVID-19) continues to impact our daily lives, we must keep up to date with new government acts and announcements to remain aware of what is changing. Many of us are transitioning to new, isolated lifestyles as a precautionary measure to diminish the spread of this contagious virus, but unfortunately, some may already be exposed. 

Yesterday, the House and Senate passed the Families First Coronavirus Response Act. From there, the Act was promptly signed by the President of the United States, to take effect April 2, 2020. Within the new Act, there are two sections related...

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Automatically Renew Your Compliance Services

Automatically Renew Your Compliance Services

Have you heard of Medcom’s very own Compliance Portal? If you have, then you already know that it’s a swiss army knife of compliance tools at your fingertips. If you haven’t heard of it, It’s called the Medcom Bridge, or just Bridge if you’re in a hurry. It's a tool built by Medcom for brokers, meant to make the entire process of becoming IRS compliant, and ensuring your client's compliance, that much easier.

How you ask? Well, to learn more about the Bridge,...

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