Archive | Plan Design

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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Planning for End of Year Expenses for Flexible Spending Accounts

Planning for End of Year Expenses for Flexible Spending Accounts The end of the plan year is quickly approaching for many flexible spending accounts (FSAs).   Many participants may be wondering what happens at the end of the plan year and how do I wrap up any outstanding claims. There are three primary scenarios (determined by […]

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IRS Adds to Permitted Change in Status Events

IRS Adds to Permitted Change in Status Events IRS Notice 2014-55 outlines two new change in status events for Cafeteria Plans. The change in status events outlined are 1) when an employee will have their hours of service reduced to below 30 hours a week on average but is still eligible for the employer’s group […]

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Is Our Health Plan ‘Grandfathered’ Under the ACA? 5 Ways a Plan Can Lose Grandfather Status

The Affordable Care Act imposes a large number of mandates on employers. But according to the terms of the law, most health plans that were purchased prior to March 23, 2010 are exempt from some of these provisions. They don’t have to offer the same selection of benefits or protections as do newly-offered plans. Indeed, […]

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Important Healthcare Reform Updates

The  Department of Labor and the Internal Revenue Service have published notices (DOL Technical Release 2013-3 and IRS Notice 2013-54) that provide new guidance concerning the implementation of the Affordable Care Act and the associated changes to Cafeteria Plans, Flexible Spending Accounts and Health Reimbursement Arrangements for plans that start on or after January 1, […]

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What Employers Need To Know About HSA Shifts

Recent research shows that over a four-year period, high-deductible health plans linked with health savings accounts lowered initial health spending. Researchers analyzed data from claims over the span of five years from a major employer that used high-deductible health plans with HSAs for all employees instead of using the traditional health care offering. The research […]

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What Happens to Workers if They Get Sick or Hurt?

According to a recent survey, four in ten American workers live paycheck to paycheck. This means that an unexpected illness or injury that takes your employees off the job for more than a few days can have devastating consequences for many of your employees who depend on their wages to survive. Disability insurance – sometimes […]

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Health Reimbursement Arrangements (HRAs) Help Introduce Employees to Health Care Consumerism

Benefits of Health Care – HRAs Help Introduce Employees to Health Care Consumerism Discussions of consumer-directed health plans frequently focus on high-deductible health plans coupled with health savings accounts (HSAs). Sometimes overlooked are health reimbursement arrangements (HRAs) or a cafeteria plan, employer-funded accounts that can be a solid first step in transitioning to a consumer-directed […]

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