Questions Employers Need to Ask Before Building A Benefits Plan

A company’s benefits package is a vital tool for attracting and keeping talented employees. It can also improve workforce health and engagement. But with workers who span four generations in today’s labor force, building a benefits plan can be a challenge for employers. Baby Boomers are nearing retirement while Gen Z is just entering the workforce. Meanwhile, … More >>

IRS Relaxes Mid-Year FSA Elections, Extends Grace Period

On Tuesday, May 12, the IRS published additional COVID-19 guidance for employer-sponsored healthcare benefits.  Drafted to address unanticipated changes in medical and childcare costs due to the COVID-19 emergency, the two Notices relax mid-year election changes for health Flexible Spending Accounts (FSAs) and Dependent Care Assistance Programs (DCAPs). They also provide more flexibility in grace … More >>

FSA eligible expenses, Wallet, Money

FSA Eligible Expenses and Other Important Information

Flexible Spending Accounts (FSAs) are an important benefit that helps people reduce out-of-pocket healthcare costs and save money on taxes. An estimated 43 percent of all civilian (non-government) workers have access to an FSA through their employers. These employer-sponsored, tax-advantaged accounts allows participants (employees) to set aside money before taxes to pay for eligible medical … More >>

IRS Extends Tax Filing and HSA Contribution Deadline

In light of recent developments regarding COVID-19 (coronavirus) and the impact it is having across the country, Congress and the IRS have made significant decisions to provide relief for workers and their families. Learn more below about tax deadline extensions, HSA contribution extensions, and information about coronavirus treatments with a high deductible health plan.   … More >>

ICHRA and EBHRA; New Rules from IRS

ICHRA and EBHRA: IRS Expands HRA Plan Types for Employers

The Internal Revenue Service (IRS), in coordination with other Federal agencies, published a final ruling today which expands Health Reimbursement Arrangement (HRA) plan types for employers. HRAs are employer-funded benefit plans used by employees to cover qualified healthcare expenses. The newly-created Individual Coverage HRA (ICHRA) and Excepted Benefit HRA (EBHRA) will be available beginning January … More >>

The Importance of COBRA Compliance for Employers

The importance of COBRA compliance cannot be understated. For employers, COBRA is often the most challenging aspect of offering healthcare benefits. In addition to being time-consuming (and sometimes confusing), failure to comply with COBRA requirements can put companies at risk of serious legal issues and steep financial penalties. What is COBRA? COBRA (Consolidated Omnibus Budget … More >>

2019 FSA and HSA contribution limits

2019 FSA and HSA Contribution Limits

The IRS has recently released the 2019 contribution limits for Flexible Spending Accounts (FSAs), and transportation benefit accounts – increasing limits for most tax-advantaged benefit plans. In May 2018, the IRS published the increases for Health Savings Accounts (HSAs), including out-of-pocket maximums. See below for 2019 FSA and HSA contribution limits, and for increases to … More >>

Enrollment Season Podcast

Tax-Free Talk, Enrollment Season Podcast featuring Captain Contributor

Tax-Free Talk is a three-part enrollment season podcast series featuring Captain Contributor, and hosted by Kathy Claimant. In this series, Captain Contributor addresses concerns about benefits enrollment for administrators, employers, and employees. Featuring the Captain’s unique wit and in-depth knowledge, and packed with action and suspense, this enrollment season podcast is like no other. Enrollment … More >>

Benefits enrollment season

Are You Ready for Enrollment Season?

Are you ready for enrollment season? For many working people, benefits enrollment season is coming up very soon. Open enrollment is the period during which you review your benefit options and choose which ones you want to enroll in for next year. These include health insurance, life insurance, and tax-advantaged healthcare benefits accounts, among others. … More >>

Should I sign up for an FSA?

Should I Sign Up for an FSA?

Benefits enrollment season is right around the corner. In addition to health, dental, and vision insurance, some companies offer other benefit options like commuter benefit accounts and consumer directed healthcare (CDH) accounts. Depending on your company’s benefit plan, you may be wondering – should I sign up for an FSA? What is an FSA? An … More >>