Archive by month: 2017-7Return
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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

Form 5500 Deadlines and Extensions

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Employers that are subject to ERISA that sponsor health and welfare plans subject to ERISA (i.e. health insurance, dental insurance, life insurance, disability insurance, Health Reimbursement Arrangement (HRA), and Health Care Flexible Spending Account (FSA) portion of a cafeteria plan, etc.) may have a Form 5500 obligation.
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Categories: Benefits in General, Compliance | Tags: Form 5500 , IRS , Form 5558 , DOL , DFVC