October 1, 2021
What’s new with ERC
As you may recall, the Employee Retention Credit (ERC) program, which can save businesses thousands on taxes for every qualifying employee, was meant to run through December 31, 2021. However, with the pandemic seemingly winding down over the summer, the Senate proposed the Infrastructure Investment and Jobs Act in July with the stipulation that the ERC program terminate early on September 30, 2021—aka yesterday. The bill has not yet been voted into law by Congress, so whether the ERC program has terminated or will continue through the end of the year is not yet known.
We’ll be keeping an eye on the bill and its repercussions for the ERC and businesses. In the meantime, you can check out more FAQs about the ERC program on our blog. Stay tuned!
It’s National Disability Employment Awareness Month
October is National Disability Employment Awareness Month (NDEAM). As the nation recovers from the long-term impacts of Covid-19, compassion and awareness are more important than ever. Explore ways to observe NDEAM with your team this month with these ideas from the Department of Labor, or check out four free ways you can make your business more accessible on our blog.
EOY Benefits Series, Part 4: How to set up a QSEHRA
We’re coming up on the end of the year, which is when employers and employees turn their attention towards benefits. In the coming weeks, we’ll spotlight helpful benefits guides to answer some common year-end questions.
QSEHRA, or a Qualified Small Employer Health Reimbursement Arrangement, is a way for small businesses that don’t offer a group health insurance plan to reimburse employees for health-related and medical costs. Essentially, a QSEHRA is a health reimbursement arrangement (HRA) for small businesses.
It doesn’t replace health insurance, but rather allows eligible employees to be reimbursed for qualified medical expenses. If you’re interested in a QSEHRA, there are 10 steps to setting up the program for your employees, including determining your eligibility and reimbursement amounts.
Learn how to set up a QSEHRA here, and tune back in next week for another benefits spotlight.
New from Gusto
- Gusto RISE Report: Our Past, Progress and the Path Forward
- What Is An Annual Report (AKA a Statement of Information) and Do I Need One?
- What is an HRIS and Does My Company Need One?
- The State of Small Business Health Insurance through the Lens of Gusto Data
Find the latest relief options in our Small Business Relief Finder.
Want more news and resources? Check out past editions in our archive.