AssuredPartners

MAY 16, 2023

Each year around this time the IRS announces the inflation-adjusted limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs), as they are required to do so annually prior to June 1st. The adjusted limits will go into effect as of January 1, 2024.

Health Savings Account 52

Health Savings Account Deductions Deductible Management 52

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

InterWest Insurance Services

JUNE 8, 2023

The IRS has raised the maximum amount people can funnel into their health savings accounts by 7.8% for 2024, the largest increase ever, brought to you by inflation. The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans.

Deductions 52

Deductions Deductible Health Savings Account Medical 52

Proskauer's Employee Benefits & Executive Compensa

JUNE 27, 2023

As a reminder, if an HDHP covers medical items and services before the participant satisfies the IRS minimum deductible (self-only or family), that coverage may disqualify the participant’s HSA contributions. Can an HDHP continue to provide pre-deductible coverage of COVID-19 testing and treatment without impacting HSA eligibility?

Deductions 52

Deductions Deductible Health Savings Account Medical 52

PeopleStrategy

DECEMBER 12, 2023

Let’s get into these areas that deserve another look before the new year starts: health savings accounts, overtime, retirement, remote employment, and the Affordable Care Act. HSA Compliance Health savings accounts (HSAs) have become commonplace in the last several years as a way to offset high deductible health plans.

401(k) 52

401(k) Overtime Health Savings Account Retirement Plan 52

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits have not yet been released.

Health and Welfare 87

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 87

AssuredPartners

JANUARY 4, 2023

During the final week of December 2022, Congress approved the Consolidated Appropriations Act, 2023 (CAA 2023) which included, among other provisions affecting employers, a temporary telehealth services safe harbor for High Deductible Health Plans (HDHP) first-dollar coverage without violating Health Savings Account (HSA) contribution rules.

Health Savings Account 52

Health Savings Account Deductions Deductible Healthcare 52

InterWest Insurance Services

DECEMBER 7, 2023

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 83

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 83

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. It definitely means paying close attention when employees say they need better support for their mental health.” copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

JULY 6, 2023

Most large health carriers have adopted some form of telemedicine by either contracting with a tech provider to manage the interface or by purchasing a tech platform. Last year, the wavier was extended by legislation through Dec.

Insurance 94

Insurance Out of Pocket Cost Hospitality Health Savings Account 94

Higginbotham

JUNE 9, 2023

HSA/HDHP Limits Will Increase for 2024 On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year.

Deductions 52

Deductions Deductible Health Insurance Taxes 52

Empuls

FEBRUARY 26, 2024

  Workplace dynamics are constantly evolving, the year 2024 promises a revolutionary shift in how organizations approach employee experience. Hybrid working models will be on the rise The remote work revolution that gained momentum in the previous years shows no signs of slowing down in 2024.

Employee Benefits 40

Employee Benefits Financial Counseling Healthcare Retirement Plan 40

Higginbotham

JANUARY 12, 2024

Health Savings Account A Health Savings Account (HSA) is a type of employee-owned account that is designed to work with high-deductible health insurance plans. Cons to an HSA Individuals who are not enrolled in high-deductible health plans cannot open or contribute to HSAs.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

HR Professionals Magazine

MARCH 6, 2023

HSA Eligibility – If you also offer a medical plan that qualifies as a high deductible health plan (HDHP), then another trap for the unwary may appear. We do have some limited time relief from this rule, most notably for certain telemedicine programs through HDHP plan years beginning in 2024.

Medical 52

Medical IT Health Savings Account Deductions 52

WEX Inc.

MAY 2, 2024

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.

Health Savings Account 96

Health Savings Account 401(k) Flexible Spending Account Taxes 96

AssuredPartners

JANUARY 11, 2023

The Department of Health and Human Services (HHS) recently announced the proposed 2024 Benefit Parameters, outlining the maximum out-of-pocket (OOP) limits applicable to non-grandfathered plans for plan years beginning in 2024. The 2024 HDHP/HSA limits have yet to be released by the IRS.

Health Savings Account 98

Health Savings Account Deductions Deductible Insurance 98

PeopleStrategy

FEBRUARY 21, 2024

But there are many areas of compliance that you need to be aware of, especially because many are changing in 2024. New Transparency Requirements While you are likely working with a benefits administrator, a common practice among many employers, there are transparency guidelines in 2024 to be aware of.

Deductions 52

Deductions Deductible Health Savings Account Electronics 52

InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. For 2024, the limits are $4,150 for single coverage and $8,300 for family coverage.)

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 98

InterWest Insurance Services

AUGUST 22, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

AUGUST 1, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

Higginbotham

NOVEMBER 2, 2022

The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and. Transportation fringe benefit plans.

401(k) 52

401(k) Flexible Spending Account Health Savings Account Flexible Spending 52

AssuredPartners

OCTOBER 18, 2022

For cafeteria plans that allow for the carryover of unused amounts, the maximum carryover amount is now permitted to increase by $40, now capped at $610 (for 2023 rollovers into 2024 plans). Health Savings Accounts and High Deductible Health Plans. Parking and Transit Limits (Per Month).

Healthcare 52

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

MARCH 17, 2022

1, 2024: A list of the remainder of all items and services is required for plan years beginning on or after Jan. 29, 2020, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a final rule regarding transparency in coverage. Links and Resources . Machine-readable Files.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Health Savings Account 52

WEX Inc.

FEBRUARY 2, 2023

trillion spending bill that President Biden signed into law in December 2022 included an additional two-year extension of these provisions, so Medicare telehealth coverage provisions will remain in place through 2024. trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52