HSA Archives - Employee Benefits I AP Benefit Advisors

HRCI & SHRM Pre-Approved Webinar | 2020 Compliance Mid-Year Roundup

Please join us for this HRCI* and SHRM** pre-approved, complimentary, one-hour webinar as Patrick Haynes, AssuredPartners’ General Counsel and SVP of Compliance, covers the following compliance topics through 2020 thus far: IRS Notices 2020-29, 2020-33 Changes to Cafeteria Plans, HCFSAs, HSAs, DCAPs, and more COVID-19 Relief and Changes Other DOL, IRS, and HHS Guidance, including […]

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HHS Provides 2021 Benefit Payment Out-of-Pocket Limits

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 […]

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CARES ACT – Impact on HSAs, HCFSAs, and HRAs

This advisory summarizes key provisions in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) applying to employee benefit plans. Over-the-Counter (OTC) Drugs and Menstrual Care Products (optional) The CARES Act states that consumers can purchase OTC drugs and medicines with funds from their Health Savings Account (HSA), Health Care Flexible Spending Account (HCFSA) […]

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IRS HDHP-HSA Plans May Cover Coronavirus Costs as Preventive Care

Today, in IRS Notice 2020-15, the Internal Revenue Service advised that HDHPs (High-Deductible Health Plans) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA).   In Notice […]

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ACA Limits, Penalties and Fees – 2014 thru 2020

Employer Shared Responsibility (Employer Mandate) Plan Years 2020 2019 2018 2017 2016 2015 2014 Affordability Safe Harbor Percentage 9.78% 9.86% 9.56% 9.69% 9.66% 9.56% 9.50% Employer Mandate Penalties – Calendar Year Penalties 2020 2019 2018 2017 2016 2015 2014 Tier One: Failure to offer coverage or to offer to 95% of employees (70% for 2015) […]

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IRS Expands List of Preventive Care for HSA Participants

Please note:  In prior guidance, the IRS/Treasury have not included preventive care services or benefits meant to treat an existing condition.  With Notice 2019-45 that is changing for the better. Important Factors:   Under a notice issued Wednesday, July 17, 2019, HDHP enrollees can deduct contributions to a HSA (Health Savings Account) for some care […]

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2019 2nd Quarter Compliance Update

Topics include: Expanded HRA Options Form 5500 is Due by July 31 President Trump’s Latest Executive Order HDHP/HSA Limits Increase for 2020 New EEOC Wellness Rules Expected by December ACA Limits, Penalties and Fees And more! Read Now For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended […]

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ACA Limits, Penalties and Fees – 2014-2019

Employer Shared Responsibility (Employer Mandate) Plan Years 2019 2018 2017 2016 2015 2014 Affordability Safe Harbor Percentage 9.86% 9.56% 9.69% 9.66% 9.56% 9.50% Employer Mandate Penalties – Calendar Year Penalties 2019 2018 2017 2016 2015 2014 Tier One: Failure to offer coverage or to offer to 95% of employees (70% for 2015) $2,500 $2,320 $2,260 […]

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IRS Clarifies When an Employer May Recover Mistaken HSA Contributions

On December 28, 2018, the IRS Office of the Chief Counsel released Informational Letter 2018-0033 to clarify when employers can request to recover mistaken HSA contributions. This letter should be used to interpret IRS Notice 2008-59, the previous guidance that served as a primary source of information on HSA issues and administrative procedures. The letter […]

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4th Quarter Compliance Newsletter

Topics include: 2016 Proposed ACA Penalties 2018 ACA Reporting Final PCORI Fee Adjustment Agencies Release 2018 Form 5500, Schedules, and Instructions 2019 Benefit Limits HSA Eligibility Requirements Read Now 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 […]

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