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Flexible Spending Accounts

Verrill

A Primer on COBRA Continuation Coverage for Health Care Flexible Spending Accounts

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It is a common practice for employers to offer employees a health care flexible spending account (“Health FSA”) option under a cafeteria plan. However, employers (and their COBRA administrators) may not be aware that Health...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Reminder: Dependent Care Assistance Is Now Excludable in Pennsylvania, Retroactive to 2023 Tax Year

With tax day quickly approaching on April 15, 2024, employers in Pennsylvania may want to take note of a December 2023 state tax law that might have flown under the radar. The law made employee contributions to...more

Ballard Spahr LLP

PA Excludes Dependent Care Assistance from Taxable Income

Ballard Spahr LLP on

The Commonwealth of Pennsylvania changed its tax treatment of assistance that employers provide for dependent care services – including dependent care flexible spending accounts. Retroactive to January 1, 2023, Pennsylvania...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2024

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75, which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

Proskauer - Employee Benefits & Executive...

IRS Releases Annual Increases to Health FSA and Transportation Fringe Benefit Limits for 2024

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified...more

Woodruff Sawyer

IRS Adjusts Health Flexible Spending Account and Other Benefit Limits for 2024

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On November 9,2023, the Internal Revenue Service (IRS) released Revenue Procedure 2023-34, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,200 for plan years beginning in...more

Schwabe, Williamson & Wyatt PC

Year-End Compliance Checklist for Employee Benefit Plans

As we come to the end of the year, it is a good time for employers with January 1st health plan renewals to review their plan documents and get ready for open enrollment. The following is a checklist that lists some of the...more

Ruder Ware

Capitol Connection, September 2023 Issue

Ruder Ware on

WELCOME TO THE RUDER WARE CAPITOL SNAPSHOT - The ever-changing landscape of state government requires businesses across all industries to stay informed on the happenings in Madison. Welcome to Ruder Ware’s Capitol...more

Bass, Berry & Sims PLC

Flexible Spending Accounts: Require Substantiation or Risk Disqualification

Bass, Berry & Sims PLC on

On April 28, 2023, the IRS Office of Chief Counsel issued Chief Counsel Advice Memorandum 202317020 (CCA Memo), with an important reminder to employers who provide health and dependent care flexible spending arrangements...more

Bowditch & Dewey

Tax Tips for New College Graduates

Bowditch & Dewey on

As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

Groom Law Group, Chartered

IRS Explains FSA Substantiation Rules

On April 28, 2023, the Internal Revenue Service (“IRS”) Office of Chief Counsel issued a Chief Counsel Advice (“CCA”) explaining the requirements for claim substantiation for health and dependent care flexible spending...more

Seyfarth Shaw LLP

Can I Get Reimbursed for My Gym Membership?

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Seyfarth Synopsis: New IRS FAQs provide helpful clarifications on eligible medical expenses for HSAs, FSAs, MSAs, and HRAs (including the conditions for reimbursement of those gym memberships)....more

Sullivan & Worcester

Winter 2023 Employment and Benefits Updates

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SECURE 2.0 Act - As part of a large year-end piece of legislation, the provisions known as SECURE 2.0 Act of 2022 (“SECURE 2.0”) were enacted into law. SECURE 2.0 represents a broadly bipartisan piece of legislation that...more

Clark Hill PLC

2023 Benefits Limits

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Happy Holidays! Employee benefits limits for 2023 have been promulgated by the government. Click the link below to view 2022-2023 comparisons of important employee benefits limits. ...more

Proskauer - Employee Benefits & Executive...

The Greatest Gift of All…Tri-Agencies Issue Welcome Relief on Prescription Drug Reporting

Just three short days before the December 27th deadline for health plans and issuers to report prescription drug and health care spending information to the government, on December 23, 2022, the Departments of Labor,...more

Pullman & Comley - Labor, Employment and...

December 31, 2022, is 125 Plan Amendment Deadline for COVID-19 Special Rules

Most employers allow employees covered by the employer-sponsored group health and welfare plans to pay their share of the cost through pre-tax payroll deductions.  In order to do this the employer must maintain a written...more

Seyfarth Shaw LLP

IRS Releases 2023 Limits for Health and Welfare Plans

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS has announced an increase to the applicable dollar amount for determining the Patient-Centered Outcomes Research Institute (“PCORI”) Fee for 2023 as well as other health and welfare limits....more

Stoel Rives - Health Law Insider®

Is Any Pandemic Relief Still Available for Employee Benefit Plans?

As we approach our third new year since the first reported cases of COVID-19, related relief may seem like old news. Although much of the government-sponsored pandemic relief has expired, there are aspects that remain germane...more

Woodruff Sawyer

Compliance Alert: IRS Adjusts Health Flexible Spending Account and Other Benefit Limits for 2023

Woodruff Sawyer on

On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,050 for plan years beginning in...more

McDermott Will & Emery

IRS Announces 2023 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more

Lowenstein Sandler LLP

Reproductive Rights: FAQs for Employers in New Jersey

Lowenstein Sandler LLP on

GENERAL INFORMATION- Is abortion still legal in NJ?- Yes, abortion is still legal in New Jersey. Abortion is an independent and fundamental right protected by both the New Jersey Constitution and state legislation....more

Schwabe, Williamson & Wyatt PC

Employer Provided Travel Benefits in Response to Dobbs and State Prohibitions on Abortion

The implications of the United States Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization that overturned Roe v. Wade’s constitutional right to abortion have had sweeping implications that affect...more

Mintz - Employment Viewpoints

Post-Dobbs Abortion-Related Travel Benefits: Surveying Employers’ Options

In a previous post, we reported on the Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization which reversed Roe v. Wade, and renders a woman’s right to make decisions regarding, and seek medical treatment...more

Dentons

Health Flexible Spending Accounts: What to do if your Health FSA is discriminatory

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In the first article of this Health FSA series, we covered how to determine if an employer’s Health FSA is discriminatory. In the second and final article of this series, we’ll cover what employers should consider if their...more

Dentons

Health Flexible Spending Accounts and Non-Discrimination Issues

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Employers often provide an array of benefits to employees. One such benefit is a Health Flexible Spending Account (Health FSA). These accounts allow employees to contribute pre-tax dollars to be used for unreimbursed medical...more

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