Archive | IRS Regulations

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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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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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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What are the reporting requirements for Health Reimbursement Arrangements?

What are the reporting requirements for Health Reimbursement Arrangements? Group health plans have several reporting requirements. Since Health Reimbursement Arrangements (HRAs) are considered group health plans, many of the requirements that apply to group health insurance plans also apply to HRAs. Medicare Secondary Payer Reporting In an attempt to reduce unneeded payments, Medicare requires group […]

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What expenses can be reimbursed from a Health Flexible Spending Account?

What expenses can be reimbursed from a Health Flexible Spending Account? Health Flexible Spending Accounts (FSAs) are a popular benefit offered by employers to help employees pay for out of pocket medical expenses. A very common question employers and employees may both have is what expenses can be reimbursed from the plan.  There are several […]

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W-2 Reporting Requirements for Reimbursement Accounts – What has to be Included?

W-2 Reporting Requirements for Reimbursement Accounts – What has to be Included? It’s that time of year when employers and employees begin thinking about deadlines for W-2s and reporting information for taxes. Healthcare reform has brought about many changes to the reporting requirements for healthcare costs and you may be asking yourself what requirements, if […]

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