The IRS released Notice 2020-23 on April 9, 2020, which postpones until July 15, 2020 the filing of many federal tax returns and the payment of taxes that had been due on or after April 1, 2020 and before July 15, 2020. Any tax return or payment due on or after April 1, 2020, and before [...]
In light of the nation's response to COVID-19 and the resultant economic downturn, employers of all sizes face a dilemma of evaluating employee head counts. Many employers are considering furloughs or temporary layoffs to reduce immediate payroll, hoping the downturn lasts for a period of a few weeks instead of months. Below is a list [...]
The Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of health insurance policies and plan sponsors of self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI), which was established by the Affordable Care Act (ACA). The institute assists, through research, patients, clinicians, purchasers and policy-makers, in making informed [...]
The Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of health insurance policies and plan sponsors of self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI), which was established by the Affordable Care Act (ACA). The institute assists, through research, patients, clinicians, purchasers and policy-makers, in making health decisions by [...]
This article was published on July 26, 2018 on BenefitsPro, written by Greg Land. Photo Source: BenefitsPro. On Wednesday, the House of Representatives adopted two health care bills, H.R. 6199 and H.R. 6311, that expand tax-advantaged health care accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Previous versions [...]
The State of Benefits report from BenefitFocus shows that workers under the age of 26 are investing 20% more of their salary in HSAs than other generations. This is certainly due to the fact that nearly half have elected to enroll in high deductible health plans in 2017. While PPO plans remain very popular, especially [...]
While we are awaiting an announcement from the IRS, the cap put on allowable employee contributions to Flexible Spending Accounts is expected to increase by $50. The cap index, which is based on the medical component of the consumer price index, did not increase last year. Inflation has been high enough to support an increase [...]
If your health plan is like most, finding ways to help members manage healthcare expenses is a top priority. Offering one or more tax advantaged healthcare spending account can help. Health Savings Accounts (HSAs) – Employers and employees can contribute to an HSA tax free and funds can roll over from year to year. To [...]
