http://Little%20circle%20guy%20reading%20a%20blog%20on%20a%20laptop

Blog

Who Can Benefit Most from an HSA?

March 14th, 2019

The basics Health savings accounts, also referred to as HSAs, have drastically risen in popularity over the past few years. In order to open an HSA, you must be enrolled in a qualified High Deductible Health Plan (HDHP). A higher deductible means lower monthly premiums for you, and subsequently huge savings. An HSA under a […]

Continue Reading

3 Surprising Expenses that can be Covered by your FSA Dollars

February 25th, 2019

Vaccinations As flu season is still among us, you’ll be happy to know that flu shots can be covered by your FSA. The Centers for Disease Control and Prevention recommends that anyone over the age of six months should get a flu shot each year. Cholesterol testing More than 102 million American adults (classified at […]

Continue Reading

Eligible Expenses to Keep in Mind during Winter Months

February 18th, 2019

The winter months seem to run long. The cold, dry air, and spending a significant amount of time indoors can lead to rapid spread of cold and flu viruses. Fortunately, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) cover common eligible expenses you may need during the winter season. The following list provides eligible […]

Continue Reading

Health Savings Account (HSA) Statistics from the EBRI HSA Database

November 30th, 2018

The Employee Benefit Research Institute (EBRI) created the EBRI HSA Database to analyze behavior exhibited in health savings accounts (HSAs). The following information is taken from the Issue Brief, which is the fifth annual report representing data from the EBRI HSA Database.  What is an HSA? A health savings account (HSA) is a tax-exempt account […]

Continue Reading

121 Benefits Holiday Hours

November 21st, 2018

121 Benefits will be closed Monday, December 24th, Tuesday, December 25th and Tuesday, January 1st. Continue reading for more details on how this may affect you.

Continue Reading

IRS Announces New 2019 Limits for FSA and Transportation Plans

November 16th, 2018

New Health FSA Maximum The IRS released Revenue Procedure 2018-222 with cost-of-living adjustments for tax-related amounts indexed for inflation.  As a result, the maximum amount participants may contribute to the Health Care (and Limited Purpose) Flexible Spending Accounts in 2019 was increased to $2,700 (up from $2,650 in 2018). For plans with a non-calendar year effective […]

Continue Reading

5 Expenses You Can Cover with Your HSA, HRA or FSA

October 26th, 2018

To help relieve some of the stress of health expenses that can accumulate quickly, here are five items you can use your HSA, HRA or FSA accounts to pay for:   Vaccinations As flu season is approaching, don’t hesitate to get your annual flu vaccination to build up an immunity to the virus before the […]

Continue Reading

IRS Releases 2019 Limits for HSAs

May 16th, 2018

The IRS released Revenue Procedure 2018-30 which provides the 2019 inflation-adjusted amounts for high deductible health plans (HDHPs) Health Savings Accounts. The amounts for HSAs for 2019 as compared to 2018 are as follows:

Continue Reading

IRS Announces Adjustment to 2018 HSA Family Contribution Limit- Back to $6900

May 9th, 2018

HSA Family Contribution Limit Increased Back to $6,900 On April 26, 2018 the IRS issued Revenue Procedure 2018–27, increasing the maximum allowable HSA contribution for family coverage back to $6,900.  As you might recall, the IRS previously announced on March 5, 2018, that there would be a decrease in the maximum contribution limit by $50 to $6,850. […]

Continue Reading

IRS Benefit Documentation for Cafeteria Plans. Are you compliant?

January 10th, 2018

Recently, the IRS conducted audits of employers to confirm that the proper documentation for written benefit plans existed in accordance with the Internal Revenue Code. Proper documentation is necessary to receive the tax benefits for providing health and welfare benefits to employees.   Below is a refresher on why compliance with this requirement is important […]

Continue Reading

730 2nd Avenue South, Suite 400
730 Building
Minneapolis, MN 55402-2446

Accessibility Options: