We’ve summarized the top seven announcements from 2019 on benefits changes and legislation, so employers and brokers can brush up before the new year.
Assembly Bill 1554: New California Law Requires Employers to Notify FSA Participants of Withdrawal Deadlines
California recently passed Assembly Bill No. 1554, requiring employers to notify employees who participate in health care, dependent care, and adoption assistance FSAs of any deadline to withdraw funds before the end of the plan year. Here's what we currently know about this legislation.
The 2020 IRS limits are here! The IRS has announced new limits for the 2020 plan year for flexible spending accounts (FSAs), commuter benefits, and adoption assistance programs. Get all the details in this post.
On July 18, 2019, Reps. Ami Bera (D-CA) and Jason Smith (R-MO) introduced H.R. 3796, the Health Savings for Seniors Act—a bipartisan bill that would allow individuals enrolled in Medicare to maintain eligibility for health savings account (HSA) contributions. Get the details here.
On Wednesday, July 17, the IRS released a notice that names additional medicines and services that can be treated as preventive care under HSA-compatible high deductible health plans (HDHPs) for those with chronic conditions.
President Trump last week issued an Executive Order, titled “Improving Price and Quality Transparency in American Healthcare to Put Patients First” to take actions to improve HSAs, FSAs, and HRAs.
Beginning on January 1, 2020, employers will be able to take advantage of two new health reimbursement account (HRA) designs: The Individual Coverage HRA and the Excepted Benefit HRA. Read on for more details about each plan.
In this infographic post, we’ll share a recent history of commuter benefits, some new legislation you should know about, and what you should keep in mind if you’re considering them for your workplace.
The IRS has announced an increase to the health care health savings account (HSA) contribution limits for the 2020 plan year. The 2020 HSA contribution level maximum will be $3,550. Get more details here.
Your daily trip to work can be a drain on your paycheck, but commuting tax deduction could change that. On January 1, 2019, the Internal Revenue Service (IRS) increased the monthly pre-tax contribution limit for parking and transit.