Archive by tag: Health FSAReturn
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End of Year ACA Guidance

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In mid-December, the IRS provided guidance in Notice 2015-87 applicable to a number of Affordable Care Act (ACA) provisions with references to prior guidance or clarification of prior guidance.
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Categories: Health Care Reform, Compliance | Tags: IRS , ACA , HRA , Reporting , COBRA , Health FSA , Affordable , Penalty

Health FSA Cap Raised to $2,550 for 2015

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The IRS has announced that the annual pre-tax election amount for an employee will be raised to $2,550 for plan years beginning on or after January 1, 2015.
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Categories: Health Care Reform, Compliance | Tags: IRS , Health FSA

Senate Bill Would Eliminate Health FSA Forfeiture

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Senate bill S.966, the Medical FSA Improvement Act, was introduced by Senator Ben Cardin (D-MD) along with Senator Mike Enzi (R-WY), on May 15th, to eliminate the Use-or-Lose rule from cafeteria plans and allow individuals to cash-out unused flexible spending arrangement (FSA) balances as taxable income.
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Categories: Benefits in General, Compliance | Tags: Health FSA

Uniform Coverage and the Health FSA

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The Uniform Coverage Rule requires that “the maximum amount of reimbursement from a health FSA must be available at all times during the period of coverage (properly reduced as of any particular time for prior reimbursements for the same period of coverage).” Prop. Treas. Reg. §1.125-5(d)(1).
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Categories: Benefits in General, Compliance | Tags: Health FSA , Uniform Coverage Rule
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