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Today the IRS officially announced under Revenue Procedure 2018-57, the 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules, and other tax changes. Included in the announcement is the inflation adjusted 2019 limits for Health Care flexible spending accounts (FSA) under an IRC Section 125 cafeteria plan and the Parking and Transit account limits under and IRC Section 132 Transportation Plan.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Revenue Procedure 2018-57 , Health FSA Limit 2019 , Transportation Plan Limits 2019

Advantages of Stacking Limited Health FSA with HSAs

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Some may think that enrolling in a Health Savings Account (HSA) means that you no longer can or need to participate in a Health Care flexible spending account (FSA) and that is not necessarily true in all circumstances.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Limited Health Care FSA , HSA , Health Savings Accounts , FSA

Department of Labor Republishes FMLA Forms

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The Department of Labor (DOL) has republished certain FMLA forms with a new expiration date.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: FMLA , Serious Health Condition , FMLA Model Forms

Medicare Part D Notice Deadline Approaching Soon

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Prior to the Medicare Part D annual enrollment period and no later than October 14, 2018, employers that provide prescription drug coverage must provide a notice of creditable or non-creditable coverage to Medicare-eligible individuals.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Medicare Part D , Creditable Coverage Notice , Medicare , October 14th , CMS , Model Notice
For purposes of the cafeteria plan nondiscrimination testing, the employer will use gross annual compensation which includes all taxable wages the employee receives from the employer, adds back any pre‐tax benefits the employee elects, as well as adds any taxable benefits the employee receives.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Cafeteria Plan , Nondiscrimination Testing , HCFSA , DCFSA , Flexible Spending Account , FSA , IRS , Annual compensation , Gross Compensation , W-2

Will My HRA Be HSA Compatible in 2019?

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As you approach 2019 and may be considering implementing a high deductible health plan (HDHP) with a Health Savings Account (HSA), now is a good time to begin reviewing your existing Health Reimbursement Arrangement (HRA) to ensure it remains HSA compatible. If you currently have an HRA and an HSA arrangement or you are looking to implement a HSA compatible HRA you will also need to review the plan design details to ensure HSA compatibility.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , HRA , HSA Compatible , Minimum HDHP Deductible , 2019 limits
If you are looking at implementing a Health Savings Account during this upcoming 2019 open enrollment season, you should carefully review the details of your existing benefit plan(s), in order to identify any issues and make any required modifications in advance when possible to preserve HSA eligibility.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , Health FSA , HRA , Health Savings Account , Health Care Flexible Spending Accounts , Health Reimbursement Arrangements , HSA Headaches , Disqualifying Coverage , Qualified HDHP , HDHP , Rollover , Grace Period , HSA eligibility
On July 23, H.R.6199 Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 and H.R.6311 Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018 were approved 8-4 in a party line vote by the House Rules Committee. During the proceedings, 2 amendments were offered and both failed. Consequently, the two bills moved on to the House floor. On July 25th under a closed-rule process, the H.R.6199 vote passed with bipartisan support in a 27...
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HR 6311 , HR 6199 , HSA , FSA , HRA , House , Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 , Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018

Consumer Driven Health Care Activity on the Hill

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The House Ways and Means Committee marked up several bills mid-July that would raise contribution limits for health savings accounts (HSAs) and expand the allowable uses of these accounts, at a cost of $41 billion over ten years, the Joint Committee on Taxation (JCT) estimates. Collectively all the bills would cost an estimated $92 billion over the next ten years.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HSA , Health Savings Accounts , FSA , Flexible Spending Account , OTC , Internal Revenue Code , Medicare and HSA eligibility , Premium Tax Credit , Medical Device Tax , Cadillac Tax , IRS , ACA , HDHP
Failure to file or failure to file required Form 5500s on time can prove to be costly for an employer as daily penalties are assessed for late or missing filings.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: IRS , Form 5500 , Form 5558 , DFVCP , Delinquent Filers , Penalties
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