Flexible Spending Accounts

News & Analysis as of

IRS Issues Guidance on Health FSAs

The IRS has issued guidance on two issues affecting health flexible spending arrangements (health FSAs). The first provides guidance on how a health FSA that consists solely of amounts carried forward from the prior year...more

Can FSAs Survive Healthcare Reform?

Flexible Spending Accounts (FSAs) or Health FSAs have for years enabled employers to offer employees the opportunity to spend non-taxable compensation on eligible medical expenses. FSAs could not only be used to pay for...more

New Guidance For Cafeteria Plans, FSAs and HSAs

In June 2013, the Supreme Court held unconstitutional a federal law requiring only opposite-sex marriages to be recognized for federal law purposes. The Internal Revenue Service ("IRS") issued initial guidance in September...more

The ERISA Litigation Newsletter - January 2014

This month we look at part three of our three part series on Class Actions. In part three, Robert Rachal and M. Todd Mobley address the role of experts in class certification post Wal-Mart and Comcast and how to use and...more

Monthly Benefits Update - December 2013

The following are the most significant employee benefits-related legal developments that occurred in December of 2013. At the beginning of 2013, after considering feedback from our clients and contacts who work in the...more

Year-End Health and Retirement Plan Guidance Grab Bag

Following Hawaii’s enactment of legislation recognizing same-sex marriage as of and after December 2, 2013 a number of additional pieces of guidance were also issued. Internal Revenue Service’s Frequently Asked Questions...more

More IRS Guidance on Cafeteria Plan, FSA, DCAP and HSA Administration Post-Windsor

In Notice 2014-1, the IRS has provided additional guidance for cafeteria plans (including health and dependent care flexible spending accounts) and Health Savings Accounts on compliance with the changes to treatment of...more

IRS Releases Q&A on Elections and Reimbursements in Cafeteria Plans Post-DOMA

On December 16, the IRS released Notice 2014-1, providing additional guidance on administration of employee benefit plans in light of the Supreme Court’s June 26, 2013 decision in United States v. Windsor. Windsor invalidated...more

Employee Benefits Developments - December 2013

RULINGS, OPINIONS, ETC. - Modification of “Use-or-Lose” Rule for Health FSAs - Internal Revenue Service (IRS) Notice 2013-71 modifies the “use-it-or-lose-it” rule for health flexible spending accounts (health...more

IRS Issues Additional Guidance on the Application of Windsor to Cafeteria Plans, FSAs, and HSAs

On Monday, IRS issued Notice 2014-1, providing additional guidance on the effects of the Supreme Court’s Windsor decision on (1) cafeteria plans; (2) medical flexible spending accounts (Medical FSAs); (3) health savings...more

Latest Post-Windsor Guidance from IRS Addresses Issues for Cafeteria Plans, Flexible Spending Accounts, and Health Savings...

In its latest addition to guidance concerning the effects of the U.S. Supreme Court's decision in United States v. Windsor, the Internal Revenue Service ("IRS") has issued Notice 2014-1 to address certain issues relating to...more

IRS Issues Welfare Plan Guidance for Same-Sex Spouses in View of DOMA Ruling

The Internal Revenue Service has published a new notice that addresses specific questions on how the U.S. Supreme Court’s decision in U.S. v. Windsor, recognizing same-sex marriage, affects elections and contributions under...more

At Year End, IRS Issues Guidance On Cafeteria Plan Transitional Rules For Windsor

Finally, some guidance on mid-year cafeteria plan changes that many employers have already permitted in the wake of United States v. Windsor. On December 16, 2013, the Internal Revenue Service (IRS) released Notice 2014-1,...more

Group Health Plans: Year-End Action Items and Upcoming Changes

Group health plan sponsors turn their attention to completing 2013 tasks, implementing upcoming 2014 changes, preparing for the ACA Shared Responsibility requirement in 2015, and documenting recent extensive plan changes....more

New Developments Impact Retirement Plans and Other Employee Benefits

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

Employee Benefits Alert: New Developments Impact Retirement Plans & More

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

New Carryover Option for Health Flexible Spending Arrangements

Recent guidance from the IRS modifies the long-standing “use or lose it” rule under a health flexible spending arrangement (“Health FSA”) to permit such arrangements to offer participants the opportunity to carryover up to...more

IRS Modifies FSA Use-or-Lose Rule

The IRS recently modified the “use-it-or-lose-it” rule for healthcare flexible spending accounts (FSAs) to permit a limited carryover of unspent funds from one plan year to the next. Effective immediately, plan sponsors may...more

IRS Modifies Health Flexible Spending Account "Use It or Lose It" Rule: $500 Carryover Now Permitted

Employees generally may not use contributions made to a health flexible spending account ("health FSA") in one plan year to purchase a benefit that will be provided in a subsequent plan year. This "use it or lose it" rule...more

2014 Annual Inflation Adjustments for Tax Provisions

The inflation adjustments for tax items for tax year 2014 of greatest interest to most taxpayers include the following dollar amounts....more

Health FSA Carryover Amendments - Proceed with Caution

Recently the Internal Revenue Service published guidance that permits an employer to amend its health care flexible spending account program (HFSA) to allow a limited carryover of funds. In IRS Notice 2013-71, the IRS...more

Putting the Pieces Together: How the ACA Impacts Health Reimbursement and Flexible Spending Arrangements

Employers responding to the market reforms contained in the Affordable Care Act (“ACA,” also referred to as ObamaCare) are trying to grasp how it treats some current arrangements, such as health reimbursement arrangements...more

The Benefits Game: New Carryover Option for Health Flexible Spending Accounts – A Change in The “Use It or Lose It Rule”

Some cafeteria plans already contain optional grace period provisions that modify the strict “use it or lose it” rules for Health Flexible Spending Accounts (“Health FSA” or “FSA”). These grace period provisions permit FSA...more

IRS Change to Use-Or-Lose Rule for FSA Accounts

Typical Flexible Spending Arrangements (FSAs) (also commonly called flexible spending accounts) allowed employees to set aside money pre-tax to pay for medical expenses not covered by insurance, including deductibles, copays,...more

Employee Benefits Update: 2013 Year End Plan Tasks

As we approach the end of the year, employers and plan sponsors of qualified retirement plans and health and welfare plans should take time to meet various upcoming deadlines. Failure to comply with the deadlines may result...more

96 Results
|
View per page
Page: of 4