In response to natural disasters like Hurricanes Helene and Milton, the IRS and the U.S. Department of Labor (DOL) have issued COBRA-related deadline relief for 2024. These extensions apply to individuals and plans located in disaster-declared zones across Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia. This temporary relief ensures that those affected have more time to address their COBRA obligations during challenging times.
What You Need to Know
Key Extensions Include:
- COBRA Elections: Affected individuals will have extended time to elect COBRA coverage beyond the standard 60-day window.
- Premium Payments: Flexibility for delayed premium payments without penalty.
- Notification Deadlines: Additional time to notify plans of qualifying events or disability determinations.
For example, if a COBRA election deadline falls during the relief period, the individual may have until after May 1, 2025, to take necessary actions, depending on their location and specific circumstances.
TASC’s Commitment to Supporting You
At TASC, we recognize the importance of adapting to these temporary changes to ensure compliance and support our clients and participants. We are actively:
- Monitoring Regulations: Keeping a close watch on updates from the IRS, DOL, and state agencies.
- Monitoring Affected Participants: Managing cases for individuals in impacted areas to ensure deadlines are met as they arise.
- Ensuring Compliance: Implementing processes to manage these regulatory changes smoothly while maintaining service quality.
We are committed to helping our clients and participants navigate these temporary measures, reducing stress during an already difficult time.
Looking Ahead
As more information becomes available, TASC will continue to communicate updates and provide the necessary support.
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- If you’re a current TASC client and have questions about how these extensions may apply to you or your employees, our team is here to help.
- If you’re interested in learning more about TASC continuation services, please visit https://www.tasconline.com/continuation/.
Together, we’ll ensure a seamless and compliant experience for everyone impacted. Stay tuned for more updates!
