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Temporary Relief Due to COVID Outbreak Period May Come to an End
December 15, 2022
When the COVID-related National Emergency will come to an end is on the minds of many health plan Sponsors and Administrators. The Public Health Emergency (PHE) is extended through January 11, 2023, and the National Health Emergency (NE) is set to expire March 1, 2023.
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Washington DC’s New Parking “Cash Out” Law Impacts Commuter Benefits
December 15, 2022
The Council of the District of Columbia has approved a new transportation benefit law that requires employers who provide parking benefits to also offer ‘clean-air’ transportation benefits. The law also requires employers to submit reporting and plans to the city. The new law applies to every employer with at least 20 persons located in Washington D.C. and offers its employees free or discounted parking.
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Does Your Health Plan Need a Dependent Eligibility Audit?
December 15, 2022
If you are not currently conducting ongoing verification audits or requiring employees to provide documentation when they enroll in benefits, then you should audit your plan. An eligibility audit is a type of compliance review that is used to ensure that dependents covered by the plan are eligible to enroll based on the plan’s eligibility rules, as well as state and federal regulations.
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Important 2023 Plan Limits
December 15, 2022
The IRS has released Revenue Procedures 2022-38 and 2022-24 including 2023 plan limits for Flexible Spending Accounts (FSA) and Commuter Benefits, limits related to Health Savings Accounts (HSA), high deductible health plans (HDHP) and various other code provisions.
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2023 PCORI Fee Update
December 15, 2022
On November 14, 2022, the IRS released Notice 2022-59, announcing the adjusted applicable dollar amount for determining the Patient-Centered Outcomes Research Trust Fund (PCORTF) fee for policy years and plan years ending on or after October 1, 2022, and before October 1, 2023.
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What to Consider When Transferring IRA Funds to an HSA
December 15, 2022
The Health Opportunity Patient Empowerment Act includes a provision which allows the owner of an Individual Retirement Account (IRA) to make a one-time, tax-free transfer into a Health Savings Account (HSA). This distribution gives HSA owners an additional way to fund their accounts and save on taxes while planning to cover future qualified medical expenses.
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Dependent Care: What It Means
December 15, 2022
In recent years, the Federal Government has passed several pieces of legislation to offer relief and much-needed flexibility to employers that offer dependent care assistance programs (DCAPs). But many employers are struggling to make these benefits attractive to all levels of their workforce who may not see the value in putting away pre-tax dollars for care of children.
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New Cafeteria Plan Changes Fix “Family Glitch” in ACA Subsidies
October 18, 2022
Last week, the Department of the Treasury and the Internal Revenue Service released regulations designed to close a loophole known as the “family glitch.”
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IRS Releases 2023 Qualified Benefit Plan Limits
October 18, 2022
The IRS has announced new Flexible Spending Account and Commuter contribution limits for 2023.
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Cyber Attacks: Why Russia and Korea are Targeting Health Plans
September 22, 2022
In March President Biden gave an official statement regarding Russian cyberattacks against the U.S. and in July the FBI warned of attacks on health plans by North Korea. All covered entities should be alert and enforce best practices.