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Posted May 24th, 2018 in Employers, Producers, Individuals

Why employees should max out their HSA contributions

Most people don’t think about an HSA as a savings account. Instead, they think of it as an account used to set aside money, tax-free, to pay for healthcare expenses. While this is true, the reality is an HSA is much more than a bank account. It’s a long-term savings vehicle.
 
Posted May 22nd, 2018 in Employers, Producers, Individuals

On May 10th, the Internal Revenue Service (IRS) published Revenue Procedure 2018-30 which includes inflation adjustments to qualified high deductible health plans (HDHPs) and Health Savings Account (HSA) contribution limits.

Posted May 17th, 2018 in Employers, Producers

Identity theft, security breaches and traffic tickets are all things that employees worry about today. When issues like these arise, many people look to an attorney for advice and assistance. Unfortunately, finding an attorney can be stressful and time-consuming—not to mention expensive.

Posted May 15th, 2018 in Employers, Producers
Two things happened in 1986. Run-D.M.C released their hit song, “It’s Tricky,” and COBRA became effective. Thirty-two years later, Run-D.M.C.’s music is still popular, and COBRA administration is still tricky—especially when it comes to Flexible Spending Account (FSAs). Add FSA carryover to the mix, and it gets even trickier.
 
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Posted May 10th, 2018 in Employers
MetLife recently released their 16th Annual U.S. Employee Benefit Trends Study, which sheds some light on changing employee attitudes and the need for a shift toward a more human work experience. The study provides interesting insights into what employees are looking for in a workplace and how their needs don’t always match up to their reality.
 
The Empowered Employee
 
Posted May 8th, 2018 in Employers, Producers, Individuals

There seems to be a lot of confusion about the status of the Individual Mandate, so we thought it would be appropriate to provide some clarification on its status.

Posted May 1st, 2018 in Employers, Producers, Individuals

On April 26, the Internal Revenue Service (IRS) announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who can contribute to a Health Savings Account (HSA).

Posted April 26th, 2018 in Producers, Employers
This blog was originally posted on July 13, 2017.
 
Group health plans are almost always subject to the Employee Retirement Income Security Act of 1974, also known as ERISA.
 
This means employers must follow certain rules, such as:
 
  • Providing participants with important information in writing about plan features and funding.
  • Establishing an appeal and grievance process for participants to receive benefits from the plan.
Posted April 24th, 2018 in Producers, Employers

The Affordable Care Act (ACA) created a research institute known as the Patient-Centered Outcomes Research Institute (PCORI). The goal of PCORI is to help patients and those who care for them make better-informed decisions about healthcare choices. PCORI is funded by fees which are charged to health plans.

The following information is designed to help employers understand their payment obligations.

Posted April 19th, 2018 in Producers, Employers, Individuals
This month, our featured Ask the Expert question comes from Melissa in South Carolina. Melissa asks:
 
“I keep hearing that 213(d) expenses are eligible for reimbursement under a Flexible Spending Account. What exactly is a 213(d) expense?”
 
There are a few things to consider when talking about 213(d) expenses in relation to Flexible Spending Accounts. Let’s start off with a definition of 213(d) expenses.