Employers

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.
 
Posted April 3rd, 2018 in Producers, Employers, Individuals

Last month, U.S. Representative Mike Kelly (R -PA) introduced the Bipartisan HSA Improvement Act. The proposed legislation would improve and enhance Health Savings Accounts (HSAs), and unlike most other HSA initiatives, this bill has bipartisan support.

HSAs have been an agenda item for the Republican party since their inception in 2004, but they are now gaining support amongst Democrats too. The Bipartisan HSA Improvement Act is co-authored by Rep. Earl Blumenauer (D-OR) and is being co-sponsored by a mixture of Republicans and Democrats including Erik Paulsen (R-MN), Ron Kind (D-WI), Terri Sewell (D-AL) and Brian Fitzpatrick (R-PA).

Posted March 29th, 2018 in Employers, Producers, Individuals
Last week, President Donald Trump signed into law a 2,232-page federal spending bill avoiding another government shutdown. In the days leading up to the bill’ s passage, it appeared that Congressional leaders were on the verge of including funds which aimed to stabilize the Affordable Care Act (ACA). 
 
Posted March 27th, 2018 in Employers, Producers, Individuals
On Monday, March 5, 2018, the IRS published Internal Revenue Bulletin (IRB) 2018-10 that contains Revenue Procedure (Rev. Proc.) 2018-19. 
 
Effective for calendar year 2018, the family contribution limit for Health Savings Accounts (HSAs) has been lowered to $6,850 from the previously set amount of $6,900. 
 
There has been no change in the individual contribution limit of $3,450 or the catch-up contribution limit of $1,000 for calendar year 2018.
 

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