Susan Shepard
Susan is our Operations Manager, directing many of our administrative functions and enabling our client management team to spend more time directly with their customers. Susan received a Bachelor of Science degree in Industrial Design from Arizona State University. Susan joined Fall River in 2015.
She is a native of Pennsylvania, but has lived in Texas, Germany, Arizona and California. An avid crafter, Susan loves scrapbooking, card making, knitting and crocheting, bicycling, golfing and reading, in addition to spending time with her husband and three grown children.
IRS Increases 2023 Limits for Health FSA & Qualified Parking and Mass Transit
The 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).
Deadline for Reinsurance Fee Reporting is November 15, 2016
Employers that offer partially self-funded medical plans are subject to the Transitional Reinsurance fee established by the Patient Protection and Affordable Care Act (PPACA).
This fee was imposed over a three year period, with 2016 being the third and final year. The fee in 2016 is $27 per average covered life (both employees and dependents) covered on the health plan in 2016.
Partially self-funded plans need to take action soon by reporting their average number of covered lives for the first 9 months of 2016 to The Department of Health and Human Services (HHS) by the deadline of November 15th, 2016.
HSA Contribution Limits for 2017 Set
Limits on OOP Maximums for 2017 announced
Limits on health plan out-of-pocket (OOP) maximums for 2017 have been announced by the Department of Health and Human Services. Annual limits on OOP maximums are imposed by the Affordable Care Act (ACA) as the maximum amount an enrollee in a non-grandfathered health plan could be expected to pay for covered essential health benefits through cost-sharing (carriers can choose to establish lower limits for certain plans).
The limits apply to both self-insured as well as large-group health plans. The OOP maximum includes the yearly deductible and any cost-sharing obligations enrollees have, such as coinsurance, once the deductible is met. The OOP maximum does not include premiums, billing amounts for out-of-network cost-sharing or spending for nonessential health benefits. The limits below on OOP Maximums also do not apply to grandfathered or retiree-only plans.