Investing in a health savings account (HSA) is a rapidly growing trend. An HSA is a tax-exempt savings account used to pay for qualified out-of-pocket medical expenses of an individual, their spouse and dependents.
Published in
Benefits 101
Tagged under
In December, the Consolidated Appropriations Act 2023 was released, passed by Congress and signed into law by President Biden. One section of that omnibus budget law is known as Telehealth Safe Harbor. This new safe harbor is identical to both the prior safe harbors, except that it marries both the plan year approach of the CARES Act with the calendar year approach of the CAA. Both calendar and non-calendar year plans will be able to take advantage of the relief.
Published in
Healthcare Legislation
Tagged under
Tuesday, 31 January 2023 00:35
IRS Permanently Extends Deadline For Furnishing ACA Reporting Forms To Employees
Written by Kristen RussellAn automatic 30-day extension to furnish the forms to employees. (Deadline will now be March 2, 2023, to furnish Forms 1095-C to individuals)
The deadline to file the Forms 1094-B or C and 1095-B or C with the IRS will remain February 28 for paper filings and March 31 if filed electronically.
Applicable Large Employers are still required to furnish Form 1095-C to their full-time employees. They must also complete Part III if the employee is enrolled in self-insured or level funded coverage.
Published in
Healthcare Legislation
Wednesday, 04 January 2023 15:09
Rule Changes Released for CO Paid Family Medical Leave (PFML)
Written by Kristen RussellThe Colorado Department of Labor and Employment (CDLE) released finalized private plan rules for PFML in October. Here are the major updates and changes:
Published in
Compliance
Monday, 21 November 2022 01:00
IRS Increases 2023 Limits for Health FSA & Qualified Parking and Mass Transit
Written by Susan ShepardThe 2023 contribution limit for Healthcare Flexible Spending Accounts (FSAs) is increasing to $3,050, an increase of $200 from 2022. The maximum carryover amount that employers may implement also increases to $610 (20% of the contribution limit).
Published in
Benefits 101
Tagged under
© 2023 Fall River Employee Benefits | Website Design & Digital Marketing by FiG Advertising