Viewing posts from: May 2020

IRS Releases 2021 Limits for HSAs

Posted May 21, 2020 by Patrick Haynes

On May 20, 2020, the IRS released Revenue Procedure 2020-32.  It provides the 2021 inflation-adjusted amounts for HSA-qualified high deductible health plans (HDHPs).

The inflation-adjusted increases for 2021 are:

  • HSA-Qualified HDHP Self Coverage: Annual deductible must be $1,400 or more in 2021 (up $50 from 2020), and annual out-of-pocket expenses cannot exceed $7,000 (up $100 from 2020).
  • HSA Contribution Limit for Self Coverage: Increases to $3,600 in 2021, up $50 from 2020.
  • HSA-Qualified HDHP Family Coverage: Annual deductible must be $2,800 or more in 2021 (no change from 2020), and annual out-of-pocket expenses cannot exceed $14,000 (up $200 from 2020).
  • HSA Contribution Limit for Family Coverage: Increases to $7,200 in 2021, up $100 from 2020.
  • No change to the Age-55+ HSA catch-up limit.  That value remains at $1,000 per year.

Please contact your Sales Executive or Account Manager for additional details about how this may affect your 2021 HDHP-HSA offerings.    And, don’t forget to review our 2021 non-HDHP plan limits here.

Links:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

HHS Provides 2021 Benefit Payment Out-of-Pocket Limits

Posted May 19, 2020 by Patrick Haynes

Earlier this week, the Department of Health and Human Services (HHS) published finalized 2021 Benefit Payment Parameters with an $8,550 out-of-pocket maximum for self-only coverage and $17,100 for family coverage for health plans beginning in 2021. See, the 5/14/2020 Federal Register publication here.

Under the Affordable Care Act (ACA), non-grandfathered health plans are required to comply with an overall annual limit on out-of-pocket expenses for essential health benefits. The current limits, for 2020 plan years, is $8,150 for self-only coverage and $16,300 for family coverage.

The IRS has also released information on what the 2021 requirements will be for high-deductible health plans (HDHPs) and health savings accounts (HSAs). The HDHP/HSA requirements include a minimum deductible, a maximum out-of-pocket limit and a maximum HSA contribution amount. These requirements apply to both grandfathered and non-grandfathered group health plans.

Here’s a summary of both traditional plans and HDHP/HSA plans for the 2020/2021 plan years:

If your plans offer both traditional and HDHP/HSA plans (that are not grandfathered), your plans are subject to both sets of requirements and you must ensure compliance with the lowest applicable out-of-pocket maximum.  Plus, the ACA requires that a per person (individualized/imbedded) out-of-pocket maximum doesn’t exceed the ACA limit, even if you are in the larger (family) tier.

The rule also finalizes the treatment of drug manufacturer support, including coupons, as it relates to the participant’s maximum out-of-pocket exposure. We previously shared guidance (Sept. 4, 2019) about this.  Health plans have the ability/the option to determine whether they will count the value of a drug manufacturer’s coupons/other assistance when determining if a participant has satisfied his or her cost-sharing obligations (provided that this is consistent with state law).

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Prior guidance:


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

AssuredPartners Town Hall Webinar | Insurance Expense Reduction and Cost Control Solutions

Posted May 14, 2020 by Megan DiMartino

AssuredPartners is pleased to continue our Town Hall meeting series this week with a focus on Insurance Expense Reduction and Cost Control Solutions. Based on feedback surrounding the topic this week, we will cover the following topics for discussion with our presenters:

  • Cost Control Solutions for your Business
  • Insurance Expense Reduction Options
  • COVID-19 and Workers Compensation Insurance
  • Increased Business Liability and Employment Matters

Please join us for a one-hour, town-hall style meeting.

Webinar details:

  • Friday, May 15, 2020
  • 2:00pm – 3:00 pm EDT

Submit a Question & Register


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

AssuredPartners Webinar | Emergency FMLA: What is it and What Now? HRCI & SHRM Pre-Approved

Posted May 12, 2020 by Megan DiMartino

COVID-19 legislation is changing the landscape of regulatory compliance for the remainder of 2020. Please join us for this HRCI* and SHRM** pre-approved, complimentary, one-hour webinar as ERISA Consultant, Olivia Ash, JD, reviews details of federal emergency FMLA legislation and covers essential benefit plan considerations impacted by COVID-19.

Webinar Details:

  • Thursday, May 21, 2020
  • 2:00pm – 3:00 pm EDT

Register Now

Presenter Bio:
Olivia Ash, JD, MS, brings fifteen years of management experience to regulatory compliance education. After receiving her BS in Exercise Science and an MS in Physical Education from Indiana University, Olivia spent a decade advising employers on wellness program implementation. She completed her JD at Indiana University’s McKinney School of Law. Presently, Olivia is a Compliance Consultant with ComplianceDashboard, LLC, focusing on ERISA’s application to health plans. She creates and presents live webinars, writes content, conducts national continuing education courses, and speaks at various conferences. Olivia is an experienced educator; she holds an Indiana state teaching license and currently serves as Adjunct Faculty at the Indiana University School of Health and Human Sciences. To maintain wellness, Olivia paints abstract art and enjoys road cycling.


*The use of the HRCI seal confirms that this activity has met HR Certification Institute’s criteria for recertification credit pre-approval.

**AssuredPartners is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1 PDC.


 For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

AssuredPartners Town Hall Webinar | State Reopening Orders & Employee Return to Work Measures

Posted May 6, 2020 by Megan DiMartino

AssuredPartners is pleased to continue our Town Hall meeting series this week with a focus on State Reopening Orders and Employee Return to Work Measures. Based on significant demand from our customers, we will cover the following topics for discussion with our presenters:

  • Recent DOL and IRS Changes for COBRA, Special Enrollments, and Claims Deadlines
  • State Reopening Orders & Return to Work Employee Screening
  • Health Screenings & Employee Wellness for Return to Work

Please join us for a one-hour, town-hall style meeting.

Webinar details:

  • Friday, May 8, 2020
  • 2:00pm – 3:00 pm EDT

Submit a Question & Register


For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended and should not be misconstrued as legal advice. You should contact your employment, benefits or ERISA attorney for legal direction.

AP Benefit Advisors’ webinar and website resources are designed for U.S.-based organizations. Our privacy and GDPR policy should be reviewed here. Please opt-out if you do not agree to these terms and conditions.

Photo by Erik Mclean on Unsplash

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