RSS
This is a 2 part series on HSA eligibility. This post will talk through a Health Care FSA with a grace period and the next part will talk through a Health Care FSA with rollover. When an employer offers a health savings account (HSA) qualified high deductible health plan it is important for plan participants to understand how other coverage can impact their HSA eligibility. This includes plans from the prior plan year that extend benefits into the new plan year, such as standard health FSA with...
Read More
Categories: | Tags:

IRS Announces 2021 Pension Plan Limits

posted on
The IRS issued Notice 2020-79, announcing the cost of living adjustments for pension plans and other retirement-related items for the tax year 2021.
Read More
Categories: Benefits in General, Compliance | Tags: IRS , Pension Plans , 2021 Limits , IRS Notice 2020-79 , Highly Compensated Employee , Key Employee , Nondiscrimination Testing , IRA , 401k , 457 , 403(b) , Roth IRA

IRS Announces 2021 QSEHRA and EBHRA Plan Limits

posted on
The IRS officially announced the 2021 annual inflation adjustments for multiple tax provisions, including the adjusted 2021 limits for QSEHRA and EBHRA plans.
Read More
Categories: Benefits in General, Compliance | Tags: Revenue Procedure 2020-45 , Revenue Procedure 2020-43 , QSEHRA , EBHRA , 2021 Plan Limits

IRS Announces 2021 Health Care FSA Limits

posted on
Today, the IRS officially announced the 2021 annual inflation adjustments for multiple tax provisions, including the adjusted 2021 limits for Health Care flexible spending accounts (FSAs).
Read More
Categories: Benefits in General, Health Care Reform, Compliance | Tags: Revenue Procedure 2020-45 , Health Care FSA Limit 2021 , 2021 FSA Limits , Rollover limit

IRS Announces 2021 Transportation Plan Limits

posted on
Today, the IRS officially announced the 2021 annual inflation adjustments for multiple tax provisions, including the adjusted 2021 limits for transportation plans.
Read More
Categories: Benefits in General, Compliance | Tags: Revenue Procedure 2020-45 , Transportation Plan Limits 2021
Some flexible spending account (FSA) participants have the unfortunate experience of forfeiting, or losing, unused funds from their Health Care FSA and/or Dependent Care FSA because they don’t understand their plan provisions. It is important for everyone involved in FSAs to understand which plan provisions provide time to file claims after the end of the plan year, such as runout, and when the plan includes optional features that provide more time to incur expenses, such as grace period and ro...
Read More
Categories: Benefits in General, Health Care Reform, Compliance | Tags: Health Care FSA , Dependent Care FSA , Runout , Grace Period , Rollover , HSA eligibility , COVID Relief , 2020-29
With open enrollment fast-approaching for many employers, it is a good time to review what employer notices and materials are required for distribution at open enrollment as well as other times throughout the year. Some employer notices are only provided when participants first become covered under a health and welfare plan and others have an annual distribution requirement. Make sure you are providing all required notices at open enrollment.
Read More
Categories: Benefits in General, Compliance | Tags: Notice , Compliance , Benefits , SPD , SMM , SBC , SAR , Medicare Part D , Notice of Creditable Coverage , COBRA , HIPAA , CHIP , WHCRA , Wellness , ADA , Grandfathered Plan , Michelle's Law
The cafeteria plan nondiscrimination tests are a series of tests that are required by the Internal Revenue Service (IRS) to determine if plans unjustly favor higher-paid individuals or those who own or are in charge within an organization. Employers are required to perform annual nondiscrimination tests or hire a third party to conduct testing on their cafeteria plan. Employee Benefits Corporation provides nondiscrimination testing for our BESTflex and BESTflex Premium Only Plan clients as part...
Read More
Categories: Benefits in General, Compliance, Health Care in General | Tags: Cafeteria Plan , Nondiscrimination Testing , NDT , HCFSA , DCFSA , Flexible Spending Account , FSA , IRS , Annual Compensation , Gross Compensation , W-2
Annually, the maximum salary reduction for the Health Care Flexible Spending Account (FSA) is increased based on inflation measured by the average chained Consumer Price Index for all Urban Consumers (CPI-U), for the 12-month period ending August 31st. The August 2020 CPI-U was released this week and Thomson Reuters has reported on projected inflation adjustments for 2021 health, charitable, compliance and other specialty items.
Read More
Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Health Care FSA , FSA , Plan Limits , Inflation , CPI-U
Annually, the limits for various benefits, including qualified small employer health reimbursement arrangements (QSEHRA) and transportation benefits are increased based on inflation measured by the Consumer Price Index for Urban Consumers (CPI-U), for the 12-month period ending August 31st. The August 2020 CPI-U was released this week and Thomson Reuters has reported on projected inflation adjustments for 2021 health, charitable, compliance and other specialty items.
Read More
Categories: Benefits in General, Compliance, Health Care in General | Tags: Transportation Benefits , Transit , Parking , QSEHRA , CPI-U , Plan Limits , Inflation
Page 1 of 53FirstPrevious[1]2345NextLast

Archive