Archive by tag: HSAReturn
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HSAs are growing in popularity. So exactly who is eligible to establish an HSA account and make an HSA contribution or have a contribution made on his/her behalf (e.g., by an employer)?
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Categories: Benefits in General, Compliance | Tags: HSA , FSA , Health FSA , Disqualifying Coverage , Permitted Coverage , Health Savings Account

Repeal and Replace ACA-Employer View

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The International Foundation of Employee Benefit Plans (IFEBP) this month released the results from a survey that asked 727 employers their views on the Affordable Care Act (ACA) and repeal-and-replace efforts.
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Categories: Health Care Reform, Compliance | Tags: ACA , Repeal and replace , IFEBP , Cadillac tax , Employer mandate , Health FSA , HSA

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
On June 9, 2017, new Department of Labor regulations (“Fiduciary Rules”) took effect which expand the categories of persons who may now be considered plan “fiduciaries” under ERISA and the Internal Revenue Code. The new Fiduciary Rules broaden the definition of plan “fiduciary” to include persons who provide investment advice to account holders of Individual Retirement Accounts and Health Savings Accounts (“HSAs”). As such, the new Fiduciary Rules have important implications for HSA ser...
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Categories: Benefits in General, Compliance | Tags: HSA , Health Savings Accounts , fiduciary rules , fiduciary , service provider , employer , TPA , third-party administrator , third party administrator , invest , advice , recommendation
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
The IRS Released Revenue Procedure 2017-37 on May 4, 2017 that provides the HSA limits for 2018 as follows:
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Categories: Compliance, Health Care in General | Tags: HSA , IRS , FSA , HRA , HSA compatible , Limits , 2018
The IRS recently released an information letter addressing the question of whether an employee who establishes and funds an HSA while enrolled in Medicare must pay a fine to the IRS.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , health savings account , IRS , information letter , Internal Revenue Service , Medicare
As the April 18th 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) and health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HCFSA , HSA , DCFSA , 1099-SA , Form 2441 , Form 8889 , Income Tax , IRS , April 15th , W-2 , Employer-sponsored Health , Health Insurance , ACA
Employee Benefits Corporation sent three members of our Compliance team to the Employer Council on Flexible Compensation (ECFC) Annual Conference in Washington, D.C. March 8-10, 2017.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: AHCA , ACA , House , Senate , FSA , HSA , HRA , Consumer directed accounts , GOP
The DOL released a proposed regulation last week that would delay the applicability date of the new fiduciary rules and related PTEs until June 9, 2017.
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Categories: Compliance | Tags: fiduciary , fiduciary rules , executive order , DOL , Department of Labor , HSA , Health Savings Accounts
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