The IRS has officially announced, under Revenue Procedure 2022-38, the 2023 Flexible Spending Account (FSA) and Commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase…
EBC Insights
New IRS Guidance on Change of Election Rules
The IRS recently released IRS Notice 2022-41, which creates a new permitted election change for cafeteria plans. Who is impacted by this IRS Notice? This Notice impacts employers that sponsor cafeteria plans…
HSA Implementation Tips to Avoid Common Headaches
Health savings accounts (HSAs) are a versatile benefit that has been growing in popularity due to the unique triple tax savings and investment opportunities. However, offering an HSA to employees for…
Introducing Lifestyle Spending Accounts
The workforce has received some major shakeups over the past several years. With declining loyalty and job satisfaction rates, increased job hopping and the ongoing struggle to find talent, employers have a keen focus on doing more to hire the right people…
COBRA Notices – Important Then, Important Now
COBRA Notices are as important now as ever! The COBRA deadline extensions that began in 2020 as a result of the pandemic are still in place – what does this mean for employers and qualified beneficiaries?
HSAs: Managing Expenses and Saving for the Future
A health savings account (HSA) is that can be paired with a qualified high-deductible health plan and offers unique advantages that other types of benefit accounts don’t offer. The unmatched flexibility of HSAs…
Designing a Benefit Plan to Meet Your Needs
Designing a Benefit Plan to Meet Your Needs Benefit offerings have become increasingly important to help attract and retain employees in a time when people are flocking to new opportunities in unprecedented numbers. With the growing significance…
Managing Your Own COBRA Program Might Be Fine – A Very Steep Fine
Self-administration might just mean a host of legal headaches and financial penalties. Learning the Hard Way There’s a very good reason why so many employers rely on third-party administrators…
Employee Benefit Trends That Are Shaping 2022
The COVID-19 pandemic shifted just about every aspect of our lives – including how we work, where we work, and what we want from our employers. According to the Bureau of Labor Statistics, over…
Retiree Health Benefits and COBRA
Employers often incorrectly assume that they don’t need to offer COBRA if they offer retiree health benefits or they misunderstand when and to whom COBRA must be offered. Unfortunately, these types of common COBRA errors can lead to significant risk…