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Bo Armstrong 
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 >>
Since the beginning of the COVID-19 emergency in March, the federal government has released several modifications to healthcare benefits to assist American companies and workers handle the economic stress, such as the CARES Act. In May, two additional notices were published, allowing mid-year election changes for health Flexible Spending Accounts (FSAs) and Dependent Care Assistance Programs … More >>
In March, the Internal Revenue Service (IRS) moved the tax deadline from April 15 to July 15. With just a few weeks until the deadline comes, here is a refresher on the tax deadline and your Health Savings Account (HSA), including tax forms and contributions for 2019. Gather All Medical and Healthcare Receipts It’s always … More >>
On Wednesday, May 20, the Internal Revenue Service (IRS) published the new rates for Health Savings Accounts (HSAs) in 2021. There is an increase for 2021 HSA contribution limits as well as out-of-pocket maximum limits for high deductible health plans (HDHPs). Learn more below. 2021 HSA Contribution Limits For 2021, the IRS has adjusted HSA contribution limits … More >>
In response to the COVID-19 outbreak, Congress and the IRS have recently acted to provide relief to American worker and companies. With the passage of the CARES Act, updates to HDHPs, HSAs and other measures, there are a lot of questions about these changes. See below for answers to COVID-19 testing and other questions about … More >>
Due to the impact of COVID-19 (coronavirus), Congress, the IRS, and other federal agencies have taken significant actions to provide relief for workers and their families. Learn more below about extensions to the tax filing deadline and HSA contribution period, and information about getting treated for coronavirus under a high deductible health plan. 2020 … More >>
When you have a Health Savings Account (HSA), you’re also eligible to sign up for a Limited Purpose Flexible Spending Account (LPFSA). Having both benefit accounts can save you even more on taxes and cover those necessary healthcare related expenses. A question for many people is “how do you maximize both accounts?” Here are some … More >>
Administering COBRA can be one of the most complex parts of offering healthcare benefits. Complying with all the COBRA regulations is a time-consuming and often confusing task. Plus, companies that fail to meet COBRA requirements put themselves at risk of legal and financial problems. Learn more about the importance of COBRA compliance below. What is … More >>
In December 2019, funding legislation was approved by Congress and signed by President Trump. In addition to approving federal spending for 2020, the bill also repealed the Cadillac Tax and extended PCORI – which are important for employers. Learn more below about these new details regarding healthcare benefits. Cadillac Tax Repeal Officially known as the … More >>
At the end of the year, people who have a Flexible Spending Account (FSA) may be worried about their “use it or lose it” dollars. Even those who have the carryover provision (up to $500 max) on their FSA plan may need to spend down their balances to get under the threshold. Never fear! We … More >>