FSA

Posted August 3rd, 2022 in Employers, Producers
Many health and welfare programs offered by employers are subject to non-discrimination testing as identified in the Internal Revenue Code (the“Code”). The non-discrimination tests are designed to ensure that certain groups of employees are not treated more favorably than other groups of employeesin terms of benefits.
 
Posted June 25th, 2021 in Employers, Producers, Individuals

Summer is finally here! For many people, the arrival of summer means vacations, backyard barbeques, and lots of time spent in the great outdoors. With all the summer fun you’ll be having, you’re probably going to want to stock up on some essential products to help you look and feel your best this season.

It may surprise you to learn that many of these products are FSA-eligible. That means that you can use your Flexible Spending Account to pay for them tax-free!

Posted May 13th, 2021 in Employers, Producers

Everyone knows that Flexible Spending Accounts (FSAs) save employees money on healthcare and dependent care expenses. But did you know that FSAs save employers money as well?

FSAs are one of the few benefits an employer can provide that often pays for itself—and then some! While there are expenses that will be incurred by the employer when using a third-party administrator for the FSA, there are also payroll tax savings that will offset some or all those expenses.

Posted April 6th, 2021 in Employers, Producers, Individuals

The Internal Revenue Service (IRS) recently published Announcement 2021-7 which indicates Personal Protective Equipment (PPE), such as masks, hand sanitizer, and sanitizing wipes, may be reimbursed under a Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA), or a Health Savings Account (HSA).  These expenses are eligible for reimbursement if the primary reason for the purchase is to prevent the spread of COVID-19.

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Posted March 4th, 2021 in Employers, Producers

Is your benefits administrator not living up to your standards? Are customer service let-downs and reimbursement problems giving you headaches? Are you worried about sticking it out until your next renewal? Well, worry no more! You don’t need to wait until your next renewal to find a better benefits administrator.

Posted February 25th, 2021 in Employers, Producers

The Internal Revenue Service (IRS) recently released Notice 2021-15 which supplements legislation that was included in the Consolidated Appropriations Act, 2021 pertaining to new, temporary options employers can implement to their Health and Dependent Care Flexible Spending Accounts (Health FSAs and Dependent Care FSAs).

Posted February 17th, 2021 in Employers, Producers

Health Savings Accounts (HSAs) are one of the fastest-growing employee benefits-and for good reason! There's no other vehicle under the tax code that has the kind of preferential treatment that HSAs provide. Stacking HSAs with an HRA or FSA maximizes both employer and employee tax savings and gives employees more flexibility to pay for current healthcare needs and save for future needs.

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Posted December 29th, 2020 in Employers, Producers, Individuals

President Donald Trump signed a new stimulus bill into law on December 27, 2020 which will provide direct payments to eligible individuals and loans to small businesses, among other things. Among those other things are temporary and optional changes that employers can implement to Health and Dependent Care Flexible Spending Accounts (Health FSAs and Dependent Care FSAs).

Posted November 3rd, 2020 in Employers, Producers, Individuals

The Internal Revenue Service (IRS) released Rev. Proc. 2020-45 on October 26th with 2021 inflation adjustments for various provisions of the Internal Revenue Code (the “Code”). Included in the announcement are maximum contribution limits for Flexible Spending Accounts (FSAs) and other employee benefit programs. A summary of some of the 2021 contribution limits has been provided below.

Posted August 13th, 2020 in Employers, Producers

Technology has influenced employee behavior and changed expectations. They are no longer comparing good and services, but instead experiences. As a result, they are demanding innovation, engagement, and personalization across every aspect of thier lives, including healthcare.

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