In the News

Health Savings Accounts and Excess Contributions
12/01/2017

Health Savings Accounts and Excess Contributions Health Savings Accounts (HSAs) provide a convenient way for people to set funds aside to pay for out of pocket medical expenses. Since they are a tax favored account, there are certain rules that need to be followed to be able to enjoy the full tax benefit, including the […]

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Don’t Forget to Educate Your Employees!
11/17/2017

Don’t Forget to Educate Your Employees! Open enrollment season is once again upon us for many plans. While educating employees about their benefits often occurs year-round, it is especially important during open enrollment when employees are deciding which benefits to choose for the upcoming year. Educating employees about their benefits can take many forms. Some […]

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Flexible Spending Account Grace Period vs. Rollover
11/10/2017

Flexible Spending Account Grace Period vs. Rollover As the end of the plan year approaches for many flexible spending accounts (FSAs), there are two terms that participants in these benefits might start to hear more frequently: grace period and rollover. While they both relate to funds remaining at the end of the plan year, they […]

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Why is documentation needed when the flex card is used?
09/15/2017

Why is documentation needed when the flex card is used? Many flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs) offer participants the use of a debit card, or flex card, to pay for eligible expenses. Using the flex card is a bonus for the participant’s cash flow because they do not have to submit […]

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When is a Health Flexible Spending Account an Excepted Benefit?
08/18/2017

When is a Health Flexible Spending Account an Excepted Benefit? A health flexible spending account (FSA) is required to be an excepted benefit in order to be in compliance with many of the regulations enacted by healthcare reform. There are two conditions which must be met in order for a health FSA to be considered […]

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Terminated Employees and Flexible Spending Accounts
08/04/2017

Terminated Employees and Flexible Spending Accounts It’s the middle of the plan year, and an employee who is enrolled in the company’s flexible spending account (FSA) decides they are going to leave and go work for another employer. When they are no longer an employee, what happens to the FSA? Once the person is no […]

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2017 PCOR Fee Filing Deadline is Quickly Approaching
06/28/2017

The deadline for filing  Patient Centered Outcome Research Institute (PCOR) fees is quickly approaching. Group health plans are required to pay the PCOR fee for plan years ending on or after October 1, 2012 and before October 1, 2019.  The fee generally applies to Health Reimbursement Arrangements (HRAs) because they are considered group health plans.  […]

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Dual Purpose Expenses and Notes of Medical Necessity
06/23/2017

Dual Purpose Expenses and Notes of Medical Necessity Pretax spending accounts reimburse many expenses including co-pay, deductible and prescription expenses. These items are typically eligible with standard documentation and nothing additional is needed.  However, there are several expenses that are considered dual purpose, and require additional documentation in order to be reimbursed. Dual purpose expenses […]

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