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 […]
With IRS Rev. Proc. 2018-30, the IRS provided several new increases to various categories that Individuals and Families may elect into a Health Savings Account (HSA) if they have a compatible HDHP (High Deductible Health Plan). For 2019, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,500, […]
HHS (the Department of Health and Human Services) issued proposed regulations that address a wide range of PPACA (Patient Protection and Affordable Care Act) benefit provisions the will be effective for the 2017 plan year (generally, the first plan year beginning on or after January 1, 2017). While these rules will not be finalized until […]
IRS Rev. Proc 2015-30 – increases the Health Savings Account (HSA) maximum annual contribution for 2016 by $100 for families and leaves the single (Employee-Only) contribution at 2015’s level. Corresponding health plans remain the same. The corresponding HDHP plan (per IRC 223(c)(2)(A)) must be a health plan with an annual deductible that is not less […]
From EBIA HHS has posted an FAQ explaining how the annual cost-sharing limit under healthcare reform will affect high-deductible health plan (HDHP) coverage. In the preamble to final 2016 parameters regulations issued last month, HHS established that the cost-sharing limit for self-only coverage should apply to all covered individuals, whether or not they are covered […]
from EBIA The DOL, IRS, and HHS have jointly issued FAQs Part XIX, addressing implementation of a variety of health care reform provisions. Here are highlights: Out-of-Pocket Maximums. Q/As-2 through -4 address the extent to which certain items must be counted toward the annual limit on out-of-pocket maximums for essential health benefits (EHB), generally applicable to […]
Head over to Google and enter “NY Times limit consumer costs delayed health care law”, then hit search. You’ll see articles from the NY Times, the Boston Globe, Huffington Post, etc. Even GOP.com is getting in on the action with their post, “Past is Prologue: Another Broken Promise and ObamaCare Delay”. Good luck getting the […]
Breaking news! The Internal Revenue Service has just released the 2014 cost-of-living-adjusted HSA limits. The following takes effect for calendar year 2014. Annual contribution limits $50 increase (EE Only): The annual limitation on deductions for an individual with employee-only coverage under a high deductible health plan (HDHP) is $3,300 — up $50 from 2013. $100 […]