Proposed Patient-Centered Outcomes Research Institute Fees The IRS has proposed that the issuers of fully insured and self-insured health plans be responsible for paying fees to fund the Patient-Centered Outcomes Research Institute. Background The Patient-Centered Outcomes Research Institute (PCOR) was established as a provision of the Affordable Care Act. “The purpose of the Institute is [...]
Stand Above Other Employers with Unique, Customized Benefits
Although high unemployment rates may be advantageous to employers, there is one important issue that may hamper their abilities to obtain the best employees. That issue is health care benefits. Look at any company offering benefits, and compare their turnover rates to those of companies with mediocre benefits. The results show a consistent advantage for [...]
What Happens to Workers if They Get Sick or Hurt?
According to a recent survey, four in ten American workers live paycheck to paycheck. This means that an unexpected illness or injury that takes your employees off the job for more than a few days can have devastating consequences for many of your employees who depend on their wages to survive. Disability insurance – sometimes [...]
2012 Transit and Parking Limits – IRS announcement
Update October 31, 2011 — This page has been updated to reflect the fact that the Qualified Transportation Fringe Benefits changes under ARRA which were to expire at the end of 2010, were extended through December 2011 by the Tax Relief and Job Creation Act of 2010. Under the American Recovery and Reinvestment Act (ARRA), [...]
2012 Flexible Spending Account and Health Savings Account Changes To Know About
Health savings accounts and flexible spending accounts are growing in popularity. Many people aren’t aware of the changes that take place in these plans from year to year. It’s important to discuss account details with an agent each year to be fully aware of the current rules or upcoming changes. 2012 Flexible Spending Accounts Information [...]
When can Debit Cards Be Used to Purchase OTC Drugs – IRS Requirements
The Patient Protection and Affordable Care Act (health care reform) limited the ability of health plans to cover over-the-counter (OTC) drugs, permitting reimbursement from flexible spending accounts (FSAs) and health reimbursement accounts (HRAs) beginning January 1, 2011, only when OTC drugs are purchased with a prescription. In a departure from guidance issued last fall, the [...]
IRS Issues New Guidance on PPACA Changes to OTC Medical Expenses for Flexible Spending Accounts
On September 3, 2010, the Internal Revenue Service (IRS) issued Notice 2010-59, a guidance reflecting statutory changes related to the use of health reimbursement arrangements (HRA) and health flexible spending accounts (FSA) for payment of over-the-counter drugs and medications. Related to accident and health plans that are provided by employers, including FSAs and HRAs, The [...]
A Look at Healthcare Reform’s Impact on HSAs and FSAs
If your company currently sponsors a flexible spending account (FSA) or health savings account (HSA) to allow employees to pay out-of-pocket medical expenses with pre-tax dollars, be prepared for upcoming changes. Under the new law, maximum annual FSA contributions are reduced, and there are new regulations affecting how the funds can be used. The intent [...]
IRS Issues New Guidance on PPACA Changes to OTC Medical Expenses
On September 3, 2010, the Internal Revenue Service (IRS) issued Notice 2010-59, a guidance reflecting statutory changes related to the use of health reimbursement arrangements (HRA) and health flexible spending accounts (FSA) for payment of over-the-counter drugs and medications. Related to accident and health plans that are provided by employers, including FSAs and HRAs, The [...]
Breast Pumps as Eligible Items for Flexible Spending Accounts and Health Reimbursement Accounts
In February 2011, the IRS ruled that the cost of breast pumps, and related equipment, will now be considered as tax-deductible medical expenses. This new ruling means that pre-tax funds from flexible spending accounts (FSA) and health reimbursement arrangements (HRA) can be used for the purchase of these supplies. Please note that in order to [...]
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- Stand Above Other Employers with Unique, Customized Benefits
- What Happens to Workers if They Get Sick or Hurt?
- 2012 Transit and Parking Limits – IRS announcement
- 2012 Flexible Spending Account and Health Savings Account Changes To Know About
- When can Debit Cards Be Used to Purchase OTC Drugs – IRS Requirements
- IRS Issues New Guidance on PPACA Changes to OTC Medical Expenses for Flexible Spending Accounts
- A Look at Healthcare Reform’s Impact on HSAs and FSAs
- IRS Issues New Guidance on PPACA Changes to OTC Medical Expenses
- Breast Pumps as Eligible Items for Flexible Spending Accounts and Health Reimbursement Accounts