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HSAs in the Workplace

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As HSAs become more common in the workplace, it is useful to review research about HSAs to better understand their benefits, limitations and trends. Last week, the Employee Benefit Research Institute released two reports pertaining to HSA usage between 2011 and 2016.
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Categories: Benefits in General, Health Care Reform | Tags: Health savings account , HSA , high-deductible health plan , HDHP , EBRI , Employee Benefit Research Institute
The IRS recently released an information letter clarifying the definition of a high deductible health plan (HDHP) for purposes of HSA eligibility. In the letter, the IRS explained that to qualify as an HDHP, a medical insurance plan (i) must satisfy certain minimum annual deductible and maximum out-of-pocket expense requirements and (ii) cannot provide any benefits below the minimum annual deductible, other than preventive care benefits.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: HSA , HDHP , IRS , health savings account , high deductible health plan , Internal Revenue Service , information letter

IRS and DOL Propose Form 5500 Revisions

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Just a few short weeks after the DOL announced the penalties will increase to $2,063 per day for failure to file Form 5500s, on July 21, 2016, the Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) (together called Agencies) will publish in the Federal Register a Notice of Proposed Forms Revisions to the Form 5500 Annual Return/Report Series.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , DOL , 5500 , Group Health Plans , FSA , HRA , HDHP

IRS Announces 2017 HSA and HDHP Limits

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In IRS Revenue Procedure 2016-28, the IRS has announced the annual HSA contribution limits and HDHP minimum deductible and maximum out-of-pocket limits that will apply in 2017.
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Categories: Health Care Reform, Compliance | Tags: IRS , HHS , HDHP , HSA
The Department of Health and Human Services (HHS) has proposed maximum out of pocket limits for in-network essential health benefit (EHB) services covered by a health plan at $7,150 for single coverage and $14,300 for any coverage other than single plan.
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Categories: Health Care Reform, Compliance | Tags: HHS , IRS , Maximum , HDHP
The minimum deductible and maximum out-of-pocket (OOP) for a high deductible health plan (HDHP) have been set by the IRS for plans renewing in 2016. The minimum deductible is $1,300 for single plan and $2,600 for family plan, the same as 2015. The maximum OOP for the HDHP for 2016 is $6,550 for single plan and $13,100 for family plan. But, does an HDHP with a family aggregate deductible greater than $6,850 satisfy the Cost Sharing limit of the ACA? Only if that HDHP embeds an individual deductib...
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Categories: Health Care Reform, Compliance | Tags: HDHP , OOP , Cost Sharing , HHS

IRS Announces 2016 HDHP and HSA Limits

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In Revenue Procedure 2015-30, the IRS has announced the calendar year 2016 inflation adjusted contribution maximum amounts for a health savings account (HSA) and the accompanying high deductible health plan (HDHP) minimum deductible and maximum out-of-pocket (OOP) thresholds
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HDHP , Limits , Cost Sharing

CMS Clarifies Cost Sharing Limits for HDHPs

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CMS has clarified, in a Q&A, that high deductible health plans (HDHPs) cannot impose cost sharing for any individual covered by the HDHP that exceeds the individual cost sharing limits established under health care reform. For 2015, the individual cost sharing limit is $6,600.
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Categories: Health Care Reform, Compliance | Tags: HDHP , Limit , Cost Sharing

IRS Announces 2015 HDHP and HSA Limits

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In Revenue Procedure 2014-30, the IRS has announced the calendar year 2015 inflation adjusted contribution maximum amounts for a health savings account (HSA) and the accompanying high deductible health plan (HDHP) minimum deductible and maximum out-of-pocket (OOP) thresholds.
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Categories: Benefits in General, Compliance | Tags: IRS , HDHP , HSA
In Revenue Procedure 2013-25, the IRS announced the inflation adjusted limits, under Code Section 223, for high deductible health plans (HDHPs) and health savings accounts (HSAs) that apply to calendar year 2014.
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Categories: Health Care Reform, Benefits in General, Compliance | Tags: HDHP , HSA
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