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The No Surprises Act (NSA), enacted as part of the Consolidated Appropriations Act of 2021, requires group health plans and health insurers to report information on prescription drug and health care spending to the Department of Health and Human Services (HHS), Department of Labor (DOL), and the Department of Treasury (DOT). The reporting process is referred to as the Prescription Drug Data Collection, or RxDC for short.
The Internal Revenue Service (IRS) published Revenue Procedure 2022-38 on October 18, 2022. The Revenue Procedure includes the inflation-adjusted 2023 contribution limits for certain employee benefit programs. Below is a summary of some of those contribution limit adjustments.
Health Flexible Spending Accounts (Health FSAs)