2020 Health Care FSA and Transportation Plan Limits Released

2019-11-07T08:01:00-06:00November 7th, 2019|News|

The IRS has announced annual inflation adjustments in Revenue Procedure 2019-44. Notable changes include the following for 2020 benefits plans: ·    Health Care Flexible Spending Account (Health Care FSA): The Health Care FSA annual limit under IRC § 125 cafeteria plans is increasing to $2,750 maximum for 2020. ·    Parking and Transit Accounts: The

Don’t Forget to Distribute Required Notices this Open Enrollment

2019-10-14T08:09:20-06:00October 14th, 2019|News|

With open enrollment fast-approaching for many employers, it is a good time to review what materials are necessary for open enrollment and what employer notices are required to distribute and when.  Some employer notices are provided when participants first become covered under a health and welfare plan and others have an annual distribution requirement.

IRS Expands HSA Preventative Care Expenses for Chronic Care

2019-08-12T13:55:31-06:00August 12th, 2019|News|

In response to the Executive Order issued on June 24th, the Internal Revenue Service (IRS) released Notice 2019-45 this week. This notice, for the purpose of Health Savings Accounts (HSAs), provides a list of medical care expenses that can now be treated as preventive care benefits under a high deductible health plan (HDHP). As

Final HRA Regulations Released

2019-07-08T12:20:18-06:00July 8th, 2019|News|

On June 13, 2019, the U.S. Departments of Health and Human Services, Labor and the Treasury issued a final rule allowing employers of all sizes to offer two new kinds of health reimbursement arrangements (HRAs). The two new HRAs include: individual-coverage HRAs and excepted-benefit HRAs. These new HRAs must meet certain conditions and may be offered