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Medical Costs

Don’t Forget to Check Claim Filing Deadlines!

Don’t Forget to Check Claim Filing Deadlines! Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs) are pretax benefits that can be offered by employers to their employees as part of their benefit package. While the accounts allow employees to be reimbursed for certain out of pocket medical, dental, vision and prescription expenses, there are […]

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Qualified Small Employer Health Reimbursement Arrangements – IRS Issues Guidance in Notice 2017-67

Qualified Small Employer Health Reimbursement Arrangements – IRS Issues Guidance in Notice 2017-67 Qualified Small Employer Health Reimbursements Arrangements (QSEHRAs) were created when the 21st Century Cures Act was passed in December 2016.  While the plans allow eligible small employers to offer the benefit to their employees, there are specific criteria that must be met.  […]

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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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