With all the media attention on emerging vaccines, we want to provide you with a brief update on what to expect. When will vaccines be available? First vaccine availability is projected for late 2020/early 2021.
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2020 continues to create numerous hurdles and difficulties for employers. One challenge for many employers, one that will carry into 2021, is how to complete the required Forms 1094-C and 1095-C reporting for 2020. This overview outlines some of the common reporting situations employers face due to employee terminations and furloughs. Many variables can impact these situations and therefore impact reporting. We highly recommend employers discuss these complex situations with their legal counsel and tax advisors to determine the correct way to fulfill their 1095-C reporting obligations.
The COVID-19 pandemic has taken a toll on everyone’s mental health. People have experienced financial hardship, additional challenges with childcare and school cancellations, job loss, reduced hours, sickness, and grief. The future is uncertain, and the present is extra stressful. And to make matters worse, many of the networks and practices that people use to support their mental health are currently unavailable due to social distancing.
For many of us, the experience of working entirely from home is a new one. It has required us to rethink the way we work and function as a team. Many of the routines, patterns, practices, and processes we have created over time are no longer effective, and we’ve had to institute new means of collaborating, getting our work done, and elevating the people around us.
Everyone experiences grief at some point in their life, and yet for being such a common experience, it’s also one that few of us are fully equipped to navigate when it comes. In part, this is because grief is such an overwhelming and horrible experience. Nothing can prepare you for it. You just have to go through it and get through it. Grief is also a unique experience for each person. Everyone has their own path through its stages, and what helped one person work through their grief may not help another.
Amazon has announced that it is rolling out “Amazon Pharmacy,” which will be able to fill prescription medications through its online platform, making them an even bigger player in the pharmaceutical space. As financial analyst Cantor Fitzgerald noted, this is “the end of a long-anticipated period (ever since AMZN (Amazon) announced its purchase of PillPack in June 2018)”.
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Based on current election results, it looks like the most probable outcome of the election is a divided government. No major legislative changes are expected should this hold true. However, this does not mean things will remain the same for the foreseeable future. Here are the main events and issues Research and Compliance is currently monitoring:
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Identifying the areas employer plan sponsors will need to contemplate as a vaccine becomes widely available.