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:
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. […]
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 […]
August 10th, 2017
What is new in benefits? Well, maybe a lot and maybe not! We give you a rundown on the differences between the ACA and the proposed The Better Care Reconciliation Act (BCRA) plan.
April 12th, 2017
Health benefits should be easy, after all, they are benefits. However, too often, they are confusing and poorly communicated to employees. A survey, conducted by Healthcare Trends Institute, provides important information on employee’s feelings related to their health plans, communication preferences, health plan costs, and employee financial and retirement preparedness. Here are 4 tips as […]
March 21st, 2017
Which plan is right for you? Given that health insurance costs keep climbing, it’s important to understand your options when considering which plan is right for you. Make sure to carefully review the details of your specific plan(s). The premiums, deductibles, out-pocket-maximums, and your employer’s HSA contribution are all factors to consider in choosing the […]
March 16th, 2017
The 21st Century Cures Act, was passed on December 13, 2016, which allows small employers to sponsor a stand-alone Health Reimbursement Account (HRA). A stand-alone HRA is a plan not paired with a group health insurance plan. This type of HRA known as a Qualified Small Employer Health Reimbursement Arrangements (QSEHRA), allows small employers to […]
September 8th, 2016
Having been in the benefits industry for as long as we have, it’s not surprising that the folks at 121 Benefits know it through and through.