In February, the City of Santa Monica filed suit against a property owner alleging a violation of the state’s price gouging law. The City alleged the owners of a multi-unit apartment building in Santa Monica had raised tenants’ rent by more than the allowable 10%.
Monday, March 8, 2021
On February 18, 2021, the IRS released Notice 2021-15 (the Notice), which provides additional guidance clarifying many open issues following implementation of Section 214 of the Consolidated Appropriations Act (CAA). Section 214 of the CAA provided a considerable amount of flexibility to employers sponsoring health care flexible spending accounts (health FSAs) and dependent care flexible spending accounts (dependent care FSAs).
Increased Flexibility for Health FSAs and Dependent Care FSAs
The Notice offers additional clarification and guidance regarding the CAA and the increased flexibility it provides for plan sponsors in the following areas related to health FSAs and dependent care FSAs, including:
Provides for the carryover of any unused amounts from the 2020 and 2021 plan years;
Monday, March 8, 2021
In the fall of 2019, we reported that Vermont enacted Senate Bill 41, which granted the Commissioner of the Vermont Department of Financial Regulation (the “Department”) jurisdiction over entities that administer one or more health reimbursement arrangements (“HRAs”), health savings accounts (“HSAs”), and flexible spending accounts (“FSAs”). Senate Bill 41 directed the Department to adopt rules regulating entities that administer HRAs, HSAs, and FSAs.
In response to Senate Bill 41, the Department recently issued proposed Regulation 1-2021-01 (the “Regulation”) entitled “The Third Party Administrator Rule,” which sets forth licensing and regulatory requirements for TPAs operating in Vermont. Many of the provisions in the Regulation are similar to provisions in the NAIC’s Model Third Party Administrator Act (the “Model Act”).
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Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.