The IRS has announced the new health savings account limits for 2021. Next year, individuals can set aside $3,600 in tax-free funds to save for the future or pay for medical expenses (up $50 from last year). Learn more about the updates in this post.
In this article, we cover the latest developments around Disaster Relief Notice 2020-01, including how it specifically impacts COBRA administration.
In light of the legislative changes taking place in response to COVID-19, ConnectYourCare recently hosted a webinar to give a detailed overview of what employers need to know about benefits administration in this critical time. We summarize everything you need to know in this post.
President Donald Trump on Friday, March 27, signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which includes important provisions for users of HSAs, FSAs, and HRAs.
The IRS released guidance on Wednesday, March 11, 2020 clarifying that testing and treatment of 2019 Novel Coronavirus (COVID-19) is preventive care and may be covered, pre-deductible, by a High Deductible Health Plan (HDHP). Learn more in this post.
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.
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.