December 13, 2021

As a result of the pandemic, the Department of Labor extended a number of deadlines for health and welfare plans. These extensions apply to participant claims and appeals deadlines, participant health plan special enrollment rights, and participant obligations under COBRA. Per applicable law, these deadlines could be extended for only up to one year. Plan sponsors should be mindful of whether deadlines are still tolled and should be prepared for the end of the deadline extension. Employers who have not yet amended their plans to reflect the deadline extensions for notices, elections, and certain other specific actions relating to COBRA and claims and appeals may consider setting forth how (and for how long) those extensions will apply.

December 13, 2021

More than 10,000 Americans turn age 65 each day and the majority will enroll in Medicare. Those who are currently contributing to a health savings account (HSA) may unknowingly violate IRS guidelines by contributing to their HSA once covered by Medicare and end up owing fees and penalties. Employees can easily avoid this scenario, but only if they understand the rules and how to recalculate their HSA contribution limit for the year (and possibly the prior year as well).

December 13, 2021

While adoption of tax-advantaged savings plans like Health Savings Accounts (HSAs) continues to rise, Lifestyle Spending Accounts (LSAs) are also gaining in popularity. Compliance for these employer-sponsored account-based offerings are relatively simple compared with other benefits such as HSAs, HRAs, and FSAs. An employer’s main considerations when offering an LSA includes taxation of the plan and avoiding the triggers for group health plans and other legal requirements.

December 13, 2021

Eligibility rules for tax-advantaged healthcare savings accounts can be confusing for employees, especially if their employer offers a high-deductible health plan (HDHP) and multiple savings account options. Let’s look at an example of a common situation and eligibility rules to maintain compliance.

November 10, 2021

The IRS has announced new contribution limits for 2022, including limits for flexible spending accounts, commuter benefits, and adoption assistance.

October 11, 2021

On October 6, 2021, the IRS issued Notice 2021-58, which clarifies emergency COBRA extensions enacted due to the COVID pandemic. Notice 2021-58 explains the application of the one-year extension to COBRA continuation coverage premium payments, election, and interaction with the subsidy available under the American Rescue Plan Act (“ARPA”). 

August 26, 2021

Health Savings Accounts (HSAs) are a great way to save for future healthcare costs. You can make tax-free HSA contributions as long as you are covered under a qualified High Deductible Health Plan (HDHP). But whose care can you pay for with tax-free HSA money?   

August 26, 2021

In our current environment of the ongoing pandemic, a flurry of new laws and regulations, and social change, employers face unique challenges in health and wellness benefits management. Employers will be expected to show good-faith compliance, and therefore should consider these top five compliance-related priorities for planning 2022 health, leave, and fringe benefits.

August 26, 2021

In IRS Information Letter 2021-13, the agency recently reiterated the requirement that Flexible Spending Account (FSA) claims paid with a debit card include the required substantiation, containing all of the information normally required for a claim submitted for reimbursement through means such as an online portal or mobile app.

August 26, 2021

In an effort to continually enhance our protection of plan participants’ private information, beginning October 15, 2021 Chard Snyder will no longer accept Savings & Spending Account claim submissions or debit card purchase supporting documentation via email. This change is to help ensure the security of our participants’ personal data. Our priority is the protection of our participants’ private personal and health-related data.