We trust this finds you all doing well, staying healthy and ready for the weekend.  Over the next few days we will have a full moon, a socially-distanced Halloween and Daylight Savings.  This can mean only one thing....November has arrived. Along with it, we have another edition of our monthly newsletter.  

This month's Crane Benefits Newsletter includes a number of updates including A Recent Ruling on Transparency as it relates to Healthcare, Updates to Annual Limits, Ways to Stay Connected During WFH, 2021 Minimum Wage Rates, the 2020 Annual Health Survey and a final Compliance Checklist for 2021

We have also included our November Wellness Newsletter, HR Brief & Benefits Buzz.

Thank you for your continued confidence in the Benefits Department of the Crane Agency. Please do not hesitate to contact your agent or service representative with any additional questions or suggestions.

The Crane Agency is a full-line insurance agency offering Employee Benefits, Key-Person Life Insurance, Disability Income, Business, Workers Compensation, Management Liability, Surety and Home/Auto Personal Lines needs. We can also assist in your review of payroll services and other administrative duties to further compliment your benefit program. 

Crane Agency
100 North Broadway, Suite 900, St. Louis, MO 63102
400 Chesterfield Center, Suite 320, Chesterfield, MO 63017
1220 E. Walnut Lawn Street, Springfield, MO 65804
800 E. 101st Terrace, Suite 350, Kansas City, MO


Final Rule on Health Care Transparency Issued

On Oct. 29, 2020, the Departments issued a final rule regarding transparency in coverage that imposes new transparency requirements on group health plans and health insurers in the individual and group markets. This Legal Update provides an overview of the final rule.

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No Change in 2021 Limits for Qualified Transportation Benefits

The IRS has released Revenue Procedure 2020-45, which includes cost-of-living adjustments for employee qualified transportation fringe benefits for the 2021 taxable year. This Legal Update discusses the 2021 amounts.

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Health FSA Limit will Remain the Same for 2021

The ACA imposes a maximum dollar limit on employees' salary reduction contributions to a health FSA. Although the ACA set this limit at $2,500, the limit is indexed for cost-of-living adjustments each year. On Oct. 27, 2020, the IRS announced that, for taxable years beginning in 2021, the dollar limit on employees' salary reduction contributions to a health FSA will remain at $2,750. This ACA Compliance Bulletin explains the indexed health FSA limit for 2021.

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IRS Announces 2021 Retirement Plan Limits

On Oct. 26, 2020, the IRS released Notice 2020-79, which contains cost-of-living adjustments for 2021 that affect amounts employees can contribute to 401(k) plans and IRAs. This Legal Update summarizes key changes for 2021.

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Staying Connected While Working From Home

This Live Well, Work Well flyer discusses ways to stay connected while working from home.

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Last-minute Open Enrollment Considerations

The COVID-19 pandemic has upturned everything this year. So, itís understandable if employers are a little less prepared for open enrollment at this point. This article outlines a few last-minute strategies for maximizing open enrollment for their employees.

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Final Forms and Instructions for 2020 ACA Reporting Released

On Oct. 15, 2020, the IRS released final 2020 forms and instructions for ACA reporting under Code Sections 6055 and 6056. This ACA Compliance Bulletin provides an overview of the changes that were included for 2020 reporting.

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HR Brief Newsletter - November 2020

This month's HR Brief discusses the Occupational Safety and Health Administrations (OSHA) clarified COVID-19 reporting requirements, and considerations for preventing workplace gossip during a crisis.

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Live Well, Work Well Newsletter - November 2020

The Live Well, Work Well newsletter is an employee newsletter that is produced monthly and covers topics like health, wellness, fitness, nutrition and personal finance. This month's newsletter discusses flu season and how to differentiate between symptoms of the common cold, the flu and COVID-19. Also learn how to take control of your health during American Diabetes Month.

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Benefits Buzz Newsletter - November 2020

This month's Benefits Buzz provides a summary of the 2020 Employer Health Benefits Annual Survey and discusses transition relief for 2020 Affordable Care Act reporting.

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2021 State Minimum Wage Rates

Twenty-four states have announced higher minimum wage rates for 2021. While most of these changes become effective in January, new rates in New York, Nevada, Oregon and Connecticut become effective on different dates. This document has been updated to reflect additional minimum wage announcements published on Oct. 15, 2020.

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Summary of the 2020 Employer Health Benefits Survey

This article briefly summarizes some of the main takeaways from the 2020 survey of employer-sponsored health benefits from the Kaiser Family Foundation.

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Employer Health Benefits 2020 Annual Survey

This is the annual survey of employer-sponsored health benefits from the Kaiser Family Foundation.

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Affordable Care Act: 2021 Compliance Checklist

Several ACA requirements will be affected by changes that take effect in 2021, such as increased dollar limits and affordability percentages. To prepare for 2021, employers should review upcoming requirements and develop a compliance strategy. This ACA Overview provides an ACA compliance checklist for 2021.

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Charles L. Crane Agency
100 N. Broadway Suite 900
St. Louis, MO 63102