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IRS Announces 2014 Standard Mileage Rates

The Internal Revenue Service has issued the 2014 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:   […]

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Paperwork

Workers are Unprepared for Critical Illness Diagnosis

Recent research shows that about 90 percent of the country’s middle-income citizens are not prepared financially for critical illness diagnoses. Only 10 percent of Americans say they feel confident that they have adequate savings to pay for the costs of possible critical illnesses. The survey examined approximately 1,000 Americans between the ages of 30 and […]

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Rollover2013

Things to keep in mind if your plan will be offering rollover for the Flexible Spending Account (FSA). Rollover and Grace Period Plans may only have either grace period or the rollover option, not both. If your plan is removing grace period and adding rollover, any dates of service that you would like to use […]

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IRS Issues New Guidance on PPACA Changes to OTC Medical Expenses for Flexible Spending Accounts

On September 3, 2010, the Internal Revenue Service (IRS) issued Notice 2010-59, a guidance reflecting statutory changes related to the use of health reimbursement arrangements (HRA) and health flexible spending accounts (FSA) for payment of over-the-counter drugs and medications. Related to accident and health plans that are provided by employers, including FSAs and HRAs, The […]

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