Archive by tag: HRAReturn
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On June 13, 2019, the U.S. Departments of Health and Human Services, Labor and the Treasury issued a final rule allowing employers of all sizes to offer two new kinds of health reimbursement arrangements (HRAs) beginning in January 2020. The two new HRAs include: individual coverage HRAs (ICHRA) and excepted benefit HRAs (EBHRA) Further, proposed regulations were released last week specific to how the Employer Shared Responsibility under the Affordable Care Act (ACA) and nondiscrimination tes...
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: ICHRA , Proposed Regulations , Employer Shared Responsibility , Pay or Play , Nondiscrimination Testing , HRA
Annually, the limits for various benefits, including qualified small employer health reimbursement arrangements (QSEHRA) and transportation benefits are increased based on inflation measured by the Consumer Price Index (CPI), for the 12-month period ending August 31st. The August 2019 CPI was released this week and Thomson Reuters has reported on projected inflation adjustments for 2020 health, charitable, compliance and other specialty items.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Transportation Benefits , Transit , Parking , QSEHRA , CPI-U , Plan Limits , Inflation

Ensure Your HRA is HSA Compatible in 2020

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The new year is fast approaching! Employers who currently offer a Health Reimbursement Arrangement (HRA) paired with a high deductible health plan (HDHP) and a Health Savings Account (HSA), or are considering doing so for the upcoming plan year, should pay special attention to the fact that the minimum HDHP deductible limits have changed! In order to maintain HSA compatibility, your HRA may need to be amended for 2020.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Health Reimbursement Arrangement , HRA , Health Savings Account , HSA , Stacking Benefits , 2020 Limits , HSA Compatible
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

Final HRA Regulations Released

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On June 13, 2019, the U.S. Departments of Health and Human Services, Labor and the Treasury issued a final rule allowing employers of all sizes to offer two new kinds of health reimbursement arrangements (HRAs). The two new HRAs made available include (1) individual-coverage HRAs (ICHRA) and (2) excepted-benefit HRAs. These new HRAs must meet certain conditions and may be offered to employees on or after January 1, 2020. The departments also posted FAQs on the new rule that include a Q & A as we...
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HRA , ICHRA , Excepted-benefit HRA , Individual-coverage HRA , HRA Final Regs , HRA Final Regulations , 1/1/2020

IRS Releases Updated Form 720 for PCOR Fees

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The IRS has released a revision to IRS Form 720 and Form 720 Instructions, which is to be used for the PCOR fees due July 31, 2019.
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Categories: Health Care Reform, Compliance | Tags: PCOR , PCOR fee , Patient-Centered Outcome Research Fee , July 31 , IRS Form 720 , HRA

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

Proposed Rule Will Expand HRA Options In 2020

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The proposed HRA rules released last week, would generally retain the current types of permitted HRAs (integrated HRAs, HRAs restricted to excepted benefits like dental and vision expenses, and retiree-only HRAs); Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) and also will eventually allow two new types of HRAs effective January 1, 2020.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HRA , QSEHRA , Premium Reimbursement Account , PRHRA , Excepted Benefit HRA , IRS , DOL , ECFC
The updates for QSEHRA and Transportation benefits for 2019 are as follows:
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Categories: Benefits in General, Compliance | Tags: QSEHRA , Transit , Parking , 2019 Limits , Qualified Small Employer HRA , Transportation Plans
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