Register by Thursday, May 28th, 2020 at 1:00pm EST, and join us at 2:00pm EST for a webinar hosted by Brio Benefits, and our friends at Commonbond. The CARES Act, signed into law on March 27th, introduced numerous measures to address the impact of COVID-19 on business and individuals. CommonBond, a company committed to education, is...
The IRS has issued Revenue Procedure 2020-32, providing inflation-adjusted amounts for health savings accounts (HSAs) for calendar year 2021: Maximum Contribution Amount Individual – $3,600 (increase of $50) Family – $7,200(increase of $100) Catch-up (age 55+) – $1,000 (no increase) High Deductible Health Plan (HDHP) deductible amounts and expense limits for 2021 were also announced: Annual...
The President signed the Paycheck Protection Program and Health Care Enhancement Act (PPPHCEA). The Department of Labor (DOL) and the Department of the Treasury (Treasury) released a final rule extending certain timeframes under the Employee Retirement Income Security Act (ERISA) and Internal Revenue Code (IRC) for group health plans, disability, and other welfare plans, pension...
The Department of Labor (DOL) and the Department of the Treasury (Treasury) issued a final rule that extends certain timeframes under the Employee Retirement Income Security Act (ERISA) and Internal Revenue Code (IRC) for group health plans, disability, and other welfare plans, pension plans, and participants and beneficiaries of these plans during the COVID-19...
A health flexible spending account (FSA) is a pre-tax account used to pay for out-of-pocket medical care costs for a participant as well as a participant’s spouse and eligible dependents. Health FSAs are employer-established benefit plans and may be offered with other employer-provided benefits as part of a cafeteria plan. Self-employed individuals are not eligible...