To help cafeteria plan participants address challenges arising from the COVID-19 crisis, the Internal Revenue Service recently issued guidance allowing employers to make a number of participant-friendly changes under their cafeteria plans. While employer adoption of these more flexible rules is voluntary, plan sponsors should work with third-party administrators, insurance providers and legal advisors to
high deductible health plan
IRS Announces 2021 Limits for Health Savings Accounts and High-Deductible Health Plans
By Jacob Mattinson & Judith Wethall on
Posted in Health and Welfare Plans
The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs) for 2021. Some of the dollar limits currently in effect for 2020 will change for 2021.
HSA Eligibility Not Disrupted by COVID-19 (Novel Coronavirus) Testing and Treatment
By Jacob Mattinson, Erin Turley & Judith Wethall on
A new IRS notice will allow individuals to receive testing and care for COVID-19 without jeopardizing their ability to contribute to a health savings account (HSA). The IRS issued the notice due to the public health threat posed by COVID-19, and the stated need to eliminate potential administrative and financial barriers to testing for and…
7 Tips to Avoid Compliance Missteps During Open Enrollment
One of the busiest times of year for an employee benefits professional is open enrollment. It is a crucial and yet stressful time of year that typically results in numerous employee questions and complaints and is a time of year with high potential for both employer and employee mistakes. Despite the stress and potential for…
IRS Announces HSA Contribution Limit Increase for 2018
Posted in Employee Benefits, Health and Welfare Plans
On April 26, 2018, the Internal Revenue Service (IRS) increased the 2018 maximum deductible Health Savings Account (HSA) contribution for taxpayers with family coverage under a High Deductible Health Plan (HDHP) to $6,900.
The $6,900 contribution limit for 2018 was originally published in Revenue Procedure 2017-37, but was reduced earlier this year by $50…
IRS Announces Limits for Health Savings Accounts and High-Deductible Health Plans for 2017
By Jacob Mattinson on
Posted in Health and Welfare Plans
Recently the Internal Revenue Service (IRS) announced (see Revenue Procedure 2016-28) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs) for 2017. Although one of the dollar limits currently in effect for 2016 will change, the majority of the limits will remain unchanged for 2017,…
IRS Releases 2015 Amounts for HSAs, HDHPs
By McDermott Will & Emery on
Posted in Health and Welfare Plans
On April 23, 2014, the U.S. Treasury Department and Internal Revenue Service (IRS) released Revenue Procedure 2014-30, which lists the 2015 indexed amounts, adjusted for inflation, for health savings accounts and high-deductible health plans (HDHPs). The following table lists the current 2014 amounts and the new 2015 amounts:
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Calendar Year 2014 |
Calendar Year 2015 |
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