On Wednesday, July 25, 2018, the House of Representatives adopted two health care bills, H.R. 6199 and H.R. 6311, that expand tax-advantaged health care accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs).
The House of Representatives Committee on Rules has announced that it will meet on Monday, July 23, 2018 at 5:00 PM EDT to discuss H.R. 6199 and 6311--health care measures with important implications for consumer-directed health care and health savings accounts (HSAs) in particular.
"Health Savings Accounts are an important tool for families to set aside money that’s tax-free to pay for needed health care expenses. This helps reduce the burden of high health care costs and enables families to plan ahead for events like the birth of a child." - Chairman Kevin Brady
On June 19, 2018, the Department of Labor (DOL) issued a final rule on Association Health Plans (AHPs) – associations created by smaller employers in part to purchase health coverage at a reduced rate.
Consumer Directed Health (CDH) programs demanded attention across Congress this week as experts testified on the ways that HSAs and other CDH accounts can make healthcare for Americans more accessible and affordable.
When it comes to the Consolidated Omnibus Budget Reconciliation Act of 1985, also known as COBRA, what employers don’t know really can hurt them. Join us on Thursday, May 24th at 11AM EST for a free webinar explaining the intricacies of COBRA and how to avoid potential pitfalls for employers.
The IRS has announced the 2019 HSA contribution level maximum will be $3,500 for individual coverage, and $7,000 for family coverage. The new limits increase the pre-tax amounts individuals and families may contribute to their HSA over 2018 limits by $50 and $100, respectively.
The IRS issued transition relief on April 26, 2018 allowing taxpayers to treat the 2018 Health Savings Account (HSA) contribution limit for an individual with family coverage under a High Deductible Health Plan (HDHP) as $6,900.
The IRS has announced that the previously released maximum family contribution limit to a HSA is reduced from $6,900 to $6,850 in 2018. This change applies immediately and any family contribution to an HSA in 2018 over $6850 could be subject to taxes and penalties.
The Cadillac Tax has been delayed until 2022, which is likely good news for those that have funded HSAs, HRAs, and Health Care FSAs.