Our claim submission deadline for Flexible Spending Account claims is March 1. Are we OK to use this date since it’s reflected in our Summary Plan Description (SPD)?
We have an employee that used more than contributed in her FSA while she was on a FMLA then personal leave. The plan year is over. The employee is now back. Can we ask her to contribute the balance at this point? I know we can’t make this request upon a termination but what about […]
We have an employee that to date has withdrawn more from their FSA than they have contributed. They have now given their notice to end employment. Can we deduct the balance owed for the FSA off the last check to balance out the amount he has been paid but has not contributed.
Can an employee open up a Health Savings Account (HSA) if their spouse has a general purpose Flexible Spending Account (FSA)? If not, can they open up the HSA account once their spouse’s FSA is exhausted and closed? And once they do this, how does the employer who is contributing to the HSA abide by […]
Plan design can help employer plan sponsors avoid the objectionable task of paying excise taxes on health plan coverage they provide to employees. The Cadillac tax is the Affordable Care Act’s way of taxing health benefits, in part to fund the law’s ambitious coverage objectives. As liability under the tax in 2018 approaches, employers are […]
We have a departing employee who has withdrawn more from his FSA than he has contributed. Can we deduct the balance owed from his final paycheck? Deductions of this type are not permissible under the Section 125 rules for FSAs.
New IRS guidance spells out more issues the agency plans to address in imposing the excise tax on high-cost employer-sponsored health coverage (commonly known as the Cadillac tax). These include: (1) identifying taxpayers who may be liable for the excise tax; (2) aggregating several employers under one plan sponsor’s payment; (3) allocating the tax among […]
Two specific types of limited wraparound coverage could qualify as “limited excepted benefits,” under health care reform rules proposed Dec. 19 by the U.S. Departments of Labor, Health and Human Services and the Treasury. “Excepted” status would be available on a temporary “pilot” basis to coverage that: wraps around a Multi-State Plan offered by the U.S. Office […]
Employers cannot simply give employees extra money to buy individual health insurance — whether through health reimbursement arrangements, health flexible spending arrangements or just plain cash — and expect to avoid “shared responsibility” penalties, the IRS with the U.S. Departments of Labor and Health and Human Services said in new frequently asked questions about the […]
Participation in high-deductible health plans and health flexible spending accounts grew at a strong pace, according to the National Center for Health Statistics. The findings in “Health Insurance Coverage: Early Release of Estimates From the National Health Interview Survey, January–March 2013” suggest that employees’ interests in consumer-directed health plans is growing, information employers may find useful in […]