Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2020. In the article linked below, we compare the applicable dollar limits for certain employee benefit programs and the Social Security
HSA
Genetic Testing Kits and FSAs
By Judith Wethall & Jacob Mattinson on
Posted in Employee Benefits, Health and Welfare Plans
The IRS issued a private letter ruling (PLR) this week indicating that an FSA (and presumably an HSA and HRA) may reimburse a portion of the purchase of genetic testing and reports regarding ancestry and health. The IRS noted that the health services portion of such a cost is a reimbursable medical expense under Code…
IRS Announces 2020 Limits for Health Savings Accounts and High-Deductible Health Plans
By Jacob Mattinson & Megan Mardy on
Posted in Employee Benefits, Health and Welfare Plans
The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the applicable dollar limits for health savings accounts and high-deductible health plans for 2020. Nearly all of the dollar limits currently in effect for 2019 will change for 2020.
See a comparison of the applicable dollar limits for HSAs and HDHPs for 2019 and 2020.…
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 2019 Employee Benefit Plan Limits
By Jeffrey Holdvogt, Brian Tiemann & Jacob Mattinson on
Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2019. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base 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…
The Basics of Health Savings Accounts and Health Flexible Spending Accounts
Posted in Employee Benefits, Health and Welfare Plans
In a recent webinar, Jake Mattinson and Sarah Raaii discussed the basics of health savings accounts (HSAs) and health flexible spending accounts. They provided an overview of the various regulations surrounding HSA, such as eligibility requirements, high deductible health plans, and contributions and distributions, and cafeteria plans. Additionally, they analyzed the differences between HSAs and…
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,…
Navigating Legal Issues in Connection with Employer Sponsored On-Site Health Clinics
By McDermott Will & Emery on
Posted in Employment, Health and Welfare Plans
On-site clinics can be a valuable addition to an employer’s overall health care strategy with respect to promoting prevention, improving quality outcomes and reducing the employer’s overall trend in health care spending. However, given the myriad laws that apply to such clinics, an employer is well-advised to develop a comprehensive legal compliance strategy in designing…