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Bill Would Eliminate Health FSA Forfeiture

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Congressman Charles Boustany introduced the Medical FSA Improvement Act of 2013 on April 18, 2013. The Bill would exempt Health FSAs from the cafeteria plan requirement that unused funds be forfeited to the employer.
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Categories: Benefits in General, Compliance | Tags: Cafeteria Plan
With open enrollment season upon us, we’ve received several questions regarding anticipatory elections. We also receive calls throughout the year on the related topic of election changes based on an anticipatory election that did not come to fruition.
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Categories: Benefits in General | Tags: Dependent Care FSA , Cafeteria Plan , Health Care FSA

Part Timers and the Dependent Care FSA

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Q. Employer: We’ve had a question come up a couple of times at our meetings this week regarding dependent care. One of the points on our slides is that the employee and spouse must either be working or full time students to be able to use the dependent care account. Are there a minimum number of hours that they need to be working?
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Categories: Benefits in General | Tags: Dependent Care FSA , Cafeteria Plan

Back to Basics: Cafeteria Plan Benefits

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Remember that a cafeteria plan is a plan that offers employees a choice between taxable benefits and qualified benefits. Only qualified nontaxable benefits can be offered under a cafeteria plan.
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Categories: Benefits in General | Tags: Cafeteria Plan
Divorced parents who share custody of their child cannot each make a $2,500 dependent care FSA election. For purposes of the dependent care FSA (subject to a $5,000 maximum annual election amount), only the custodial parent may use the dependent care FSA benefit. The custodial parent is the parent with whom the child resides the greatest number of nights.
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Categories: | Tags: Dependent Care FSA , Cafeteria Plan
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