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The nondiscrimination tests are a series of tests that are required by the Internal Revenue Service (IRS) to determine if plans unjustly favor higher-paid individuals or those who own or are in charge within an organization. Employers are required to perform annual nondiscrimination tests or hire a third party to conduct testing on their cafeteria plan. Employee Benefits Corporation provides nondiscrimination testing for our BESTflex and BESTflex Premium Only Plan clients as part of our standar...
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Cafeteria Plan , Nondiscrimination Testing , NDT , HCFSA , DCFSA , Flexible Spending Account , FSA , IRS , Annual Compensation , Gross Compensation , W-2
Nondiscrimination tests are a series of tests that are required by the Internal Revenue Service (IRS) to determine if plans unjustly favor higher-paid individuals or those who own or are in charge within an organization. Employers are required to perform annual nondiscrimination tests or hire a third party to conduct testing on their plan. Employee Benefits Corporation includes nondiscrimination testing for our BESTflex, BESTflex Self-Administration and BESTflex Premium Only Plan cafeteria plan...
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Categories: Benefits in General, Compliance, Health Care in General | Tags: IRS , Nondiscrimination Testing , NDT , Key Employees , Highly Compensated Employees , Non-Highly Compensated Employees , Flexible Spending Account , FSA , Premium , Cafeteria Plan
Every year, more employers are adding high deductible health plans (HDHP) along with Health Savings Accounts (HSA) to their benefit offerings to help curb the rising cost of health premiums, as well as help employees become better stewards of their health care dollars. If you are considering implementing a HSA for the upcoming 2020 open enrollment season, you should carefully review the details of your existing plan(s). This will allow you to identify any issues and make any required modifica...
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , Health Savings Account , HDHP , High Deductible Health Plan , HSA Compatible , Disqualifying Coverage , Limited Health FSA , HRA , Cafeteria Plans , Grace Period , Rollover , Embedded , Aggregate
Debit cards can provide quick access to employee Health Care Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs), but not all card swipes are free from substantiation. Read more about why Employee Benefits Corporation requires substantiation and when.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Medical , Debit Cards , FSA , HSA , HRA , Medical Expenses , Auto Substantiation , Copay Matching , Recurring Claims , Real Time Substantiation , IIAS

Debit Cards: To Swipe or Not To Swipe

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The IRS has specific rules about when and how debit cards can be used for FSAs, HRAs and HSAs, which can cause confusion for card holders. We will answer some frequently asked questions on where cards can be used, on what purchase can be made, and more.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: Medical , Debit Cards , FSA , HSA , HRA , Medical Expenses , OTC Drugs
As the April 15th income tax deadline quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, health care flexible spending accounts (HCFSA), dependent care flexible spending accounts (DCFSA), or health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HCFSA , HSA , DCFSA , Dependent Care Flexible Spending Accounts , Health Savings Accounts , Health Flexible Spending Accounts , IRS Form 2441 , IRS Form 8889 , W-2 , IRS , Income Tax Deadline , April 15th , 2018 tax deadline , IRS Form 1099-SA
The answer will be different depending upon if the employee has a cafeteria plan with run out, grace period or rollover. The employee is not eligible for an HSA if he/she has disqualifying coverage.
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Categories: Benefits in General, Compliance | Tags: HSA , Health Care FSA , Limited Health Care FSA , Health Savings Account Eligibility , Grace Period , Run out period , Rollover
As we ring in 2019, calendar year cafeteria plan have also started the new 2019 plan year. Employers might be wondering whether it is really too late to allow employees to make changes to or even revoke their flexible spending account (FSA) elections, especially if it is prior to the first payroll for the new plan year.
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Categories: Benefits in General, Compliance | Tags: FSA , Permitted Election Change , Irrevocable , Plan Year
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

Dependent Care FSA Considerations at Open Enrollment

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Why should you consider the Dependent Care FSA at Open Enrollment this year. We will review some key concepts and outline the advantages that the Dependent Care FSA can provide.
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Categories: Benefits in General, Compliance | Tags: Dependent Care FSA , Flexible Spending Account , Dependent Care Tax Credit , DCTC , Form 2441
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