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End of Year Remaining Balances and Eligible Expenses

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. […]

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Don’t Forget to Educate Your Employees!

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

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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When is a Health Flexible Spending Account an Excepted Benefit?

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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Change in Status Events for Health Flexible Spending Accounts and Dependent Daycare Accounts

Change in Status Events for Health Flexible Spending Accounts and Dependent Daycare Accounts Elections made for health flexible spending accounts (FSA) and dependent daycare accounts normally cannot be changed once the plan year has started. While elections generally cannot be changed, there are certain circumstances when the IRS has said exceptions can be made. The […]

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Terminated Employees and Flexible Spending Accounts

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

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

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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Employers – don’t forget your mid plan-year checkup!

Employers – don’t forget your mid plan-year checkup! The middle of the plan year is a great time for employers to review the status of their benefits and make sure everything is still in order for the current plan year. An employer completing a mid-year audit may want to check the following items: Payroll Deductions […]

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What Expenses Can Be Reimbursed from a Dependent Daycare Flexible Spending Account?

What Expenses Can Be Reimbursed from a Dependent Daycare Flexible Spending Account? Dependent daycare flexible spending accounts (dependent daycare FSAs) allow employees to be reimbursed on a pre-tax basis for daycare expenses. Identifying which expenses can be reimbursed from a dependent daycare FSA is an important part of the planning and election process for employees […]

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