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IRS Releases 2021 Benefit Plan limit Cost-of-Living Adjustments

The Internal Revenue Service (IRS) has released IRS Notice 2020-79, announcing cost-of-living adjustments regarding the 2021 limits for retirement plans and IRS Rev. Proc. 2020-45, announcing cost-of-living adjustments regarding 2021 limits for health and welfare plans. The Social Security Administration (SSA) also announced an increase in the Social Security wage base for 2021 and an … Continued

2020 Annual Benefit Plan Amounts | Michigan Employee Benefits Company

2020 will begin with new annual benefit plan amounts.  For instance, 401(k) contribution limits have increased by $500 while HSA limits have risen by $50 for individuals and $100 for families.   We’ve compiled a summary of all of the benefit plan changes so click the link below for more detailed explanations and limit amounts. … Continued

Price Shop Healthcare | Michigan Benefit Advisors

As the costs of health care soar, many consumers are looking for ways to control their medical spending. Also, with the rise of enrollment in high deductible health plans, consumers are paying for more health care out-of-pocket. From medical savings accounts to discount plans for prescriptions, patients are growing increasingly conscious of prices for their … Continued