health FSA Archives - Employee Benefits I AP Benefit Advisors

IRS Offers Guidance and Flexibility for Employee Benefit Plans

The Internal Revenue Service today released guidance to allow temporary changes to section 125 cafeteria plans. These changes extend the claims period for healthcare flexible spending arrangements (FSAs) and dependent care assistance programs and allow taxpayers to make mid-year changes. The guidance issued today addresses unanticipated changes in expenses because of the 2019 Novel Coronavirus […]

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IRS Announces 2020 Contribution Limits for Health Care FSAs and Qualified Transportation Plans

Today, the Internal Revenue Service announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes (generally referred to as cost-of-living increases).  Revenue Procedure 2019-44 provides details about these annual adjustments. The 2020 tax items of greatest interest to our clients that are […]

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IRS Announces 2019 Contribution Limits for Health Care FSAs and Qualified Transportation Plans

Today, the Internal Revenue Service announced the tax year 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes (generally referred to as cost-of-living increases).  Revenue Procedure 2018-57 provides details about these annual adjustments. The 2019 tax items of greatest interest to our clients that are […]

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IRS Releases Publication 969 and Publication 503

IRS Issues 2015 Version of Publication 969 on HSAs, HRAs, Health FSAs, and MSAs Publication 969 has been updated for use in preparing 2015 tax returns. This publication provides basic information about HSAs, HRAs, Healthcare FSAs, Archer MSAs, and Medicare Advantage MSAs, including brief descriptions of benefits, eligibility requirements, contribution limits, and distribution issues. There […]

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The IRS has relaxed PPACA’s $2500 HCFSA cap for non-calendar year HCFSAs

Yesterday the IRS provided some relief for non 1/1 HCFSA plans.   Under current law there is no dollar-limit-cap on HCFSAs.  However, since HCFSAs contain a “uniform coverage provision”, meaning that the entire annual election is made available on the first day of the plan year, employers self-regulate their HCFSAs caps.  Employers that are worried about […]

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