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End of Year Remaining Balances and Eligible Expenses With the end of the plan year less than a month away for many pretax reimbursement plans such as flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs) participants may be looking to confirm how they can spend their remaining balance to avoid the forfeiture of funds. […]0 comments
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 […]0 comments
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 […]0 comments
Employer Contributions to a Health Savings Account – What You Need to Know As the employee benefit landscape continues to change, employers are constantly looking for ways to offer a comprehensive, cost-effective benefit package to their employees. One option many employers use is making contributions to spending accounts. If an employer offers a qualifying high […]0 comments
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 […]