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Reminder: PCORI Fees Due July 31
July 2, 2023
PCORI fees for plan years ending between January 1, 2023, to December 31, 2023, are due by July 31, 2024. The PCORI fee is filed using IRS Form 720.
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What Transportation Expenses are Eligible Under an FSA or HSA?
July 2, 2024
You likely have a primary care physician and hospital relatively close by, but there may be times when you need to travel outside your local area to see a specialist for diagnosis and/or treatment. Medically related travel expenses can add up quickly, and your healthcare FSA or HSA can be used for many of them.
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When is an Employee Assistance Program (EAP) Subject to COBRA?
July 2, 2024
COBRA and Employee Assistance Program (EAP) compliance can be frustrating and complex. Certain elements must be present for an EAP to be considered a COBRA-covered benefit. Plan sponsors should take care in determining which plans are subject to COBRA and comply accordingly.
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2025 HSA Contribution Limits Released
July 2, 2024
The IRS has issued Revenue Procedure 2024-25, providing inflation-adjusted Health Savings Account (HSA) contribution amounts for calendar year 2025.
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Important Plan Limits for 2024
December 20, 2023
On November 9,2023, the IRS issued IRS Revenue Procedure 2023-34, which address annual inflation adjustments for more than 60 tax provisions. Included are new limits for Flexible Spending Accounts, Commuter Benefits and various other code provisions.
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PCORI Fee Update for Plan Years Ending October 1, 2023, - September 30, 2024
December 20, 2023
On October 18, 2023, the IRS issued Notice 2023-70, 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, 2023, and before October 1, 2024.
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Avoid Compliance Mistakes During Open Enrollment
December 20, 2023
Open enrollment is one of the busiest times of year for employee benefits professionals. It’s a stressful season that typically results in questions and complaints and comes with a high potential for both employer and employee mistakes.
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A Closer Look at ERISA Requirements – A Review of the Summary of Benefits and Coverage
December 20, 2023
The Summary of Benefits and Coverage (SBC) is a document that health insurance companies are required to provide to plan participants and beneficiaries under the Affordable Care Act (ACA). It's designed to help individuals better understand their health insurance coverage by providing a summary of key information in a standardized format.
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Tax Implications of Lifestyle Spending Accounts
December 20, 2023
Lifestyle Spending Accounts (LSAs) are a relatively new type of benefit that allows employers a great deal of flexibility, allowing employers to give their employees money to spend on products and services that will enhance their lives, but LSAs should not include expenses covered under any other insurance programs or pre-tax benefits.