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Stay up to date with Coronavirus (COVID-19) resources, legal and HR compliance updates, and insight on how to stay informed, prepared and healthy.

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Temporary Health FSA and DCAP Relief

** IMPORTANT: This advisor only applies to group plans with a Flexible Spending Account (FSA) or Dependent Care Flexible Spending Account (DCAPs). ** The Consolidated Appropriations Act, 2021 (Appropriations Act), enacted on December 27, 2020, contains temporary rules to provide relief for participants in health flexible spending arrangements (FSAs) and dependent care flexible spending arrangements … Continued

DEC 2020 | Compliance Recap

December was a busy month in the employee benefits world. President Trump signed the Consolidated Appropriations Act, 2021, which includes the No Surprises Act and other group health plan provisions. The Centers for Disease Control Advisory Committee on Immunization Practices (ACIP) issued two interim recommendations for COVID-19 vaccines. The Department of Health and Humans Services … Continued

Internal Revenue Service Notice 2020-33

The Internal Revenue Service (IRS) issued IRS Notice 2020-33 (Notice) that increases the limit for unused health flexible spending account (health FSA) carryover amounts from $500 to a maximum of $550 (carried over from a 2020 plan year to a 2021 plan year), as adjusted annually for inflation. Notice 2020-33 also clarifies the ability of … Continued

IRS Releases 2019 Inflation-Adjusted Limits | MI Employee Benefits Agents

The Internal Revenue Service (IRS) released its inflation-adjusted limits for various benefits. For example, the maximum contribution limit to health flexible spending arrangements (FSAs) will be $2,700 in 2019. Also, the maximum reimbursement limit in 2019 for Qualified Small Employer Health Reimbursement Arrangements will be $5,150 for single coverage and $10,450 for family coverage. Read … Continued