What’s a Wrap Plan? Wrap plans are documents that bundle health and welfare benefits into a single plan document and summary plan description (SPD). These documents help fill in the gaps of required information by wrapping around the insurance certificates…
Everything you need to know about SPDs What’s an SPD and why is it important? Summary Plan Descriptions (SPDs) are documents that include all of the important information that employers and plan participants need to know about their benefit plan.
Since the start of the COVID-19 pandemic, we’ve seen many legislative and regulatory changes that have altered employee benefits. These regulatory changes were put in place to offer additional relief and extensions during a difficult time. Although much…
How to Avoid Disqualifying Coverage When offering a health savings account (HSA), there are a few eligibility requirements that employers need to keep in mind for participants looking to transition from their standard health flexible spending account (FSA) to an HSA....
The IRS has officially announced, under Revenue Procedure 2020-45, the 2022 Flexible Spending Account (FSA) and Commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase…
October is HSA Awareness Month and we’re here to spread the word about health savings accounts (HSAs) and how they help people save for today and tomorrow! When people think about HSAs, they often think of them as a short-term benefit where…
Get the most out of an HRA Health reimbursement arrangements (HRAs) are a great way to offer benefits within a budget, but did you know that this benefit can be provided to retirees? With an HRA for retirees, participants use employer funds to help pay…
Some flexible spending account (FSA) participants have the unfortunate experience of forfeiting or losing unused funds from their Health Care FSA and/or Dependent Care FSA. In our experience, this…
Many parents enroll their children in camps during the summer months and it’s the season for questions about how Dependent Care Flexible Spending Accounts (FSAs) can be used for summer camp expenses. Summary Day camp expenses are eligible…
On Tuesday, 05/18/2021, the Internal Revenue Service (IRS) released IRS Notice 2021-31, which includes additional guidance about the application of the COBRA premium assistance provisions in…