IRS Extends 2020 Tax Deadline and HSA Contribution Period

Due to the impact of COVID-19 (coronavirus), Congress, the IRS, and other federal agencies have taken significant actions to provide relief for workers and their families. Learn more below about extensions to the tax filing deadline and HSA contribution period, and information about getting treated for coronavirus under a high deductible health plan.   2020 … Read more…

Employer Benefit Updates: Cadillac Tax Repeal and PCORI Extension

Congress Repeals Cadillac Tax and Extends PCORI

In December 2019, funding legislation was approved by Congress and signed by President Trump. In addition to approving federal spending for 2020, the bill also repealed the Cadillac Tax and extended PCORI – which are important for employers. Learn more below about these new details regarding healthcare benefits. Cadillac Tax Repeal Officially known as the … Read more…

How Much Should I Contribute To My HSA?

A Health Savings Account, or HSA, is a tax-advantaged tool for healthcare consumers enrolled in a high deductible health plan (HDHP). An HSA is designed to help account owners save money (via tax-free contributions) to pay for qualified out-of-pocket medical and healthcare expenses (tax-free withdrawals). It can also be used as a supplementary retirement account. … Read more…

Dependent Care FSA: Benefits, Eligible Expenses, and More

People generally associate Flexible Spending Accounts (FSAs) with healthcare. However, did you know there is a type of FSA that can be used for childcare and other dependent expenses? With a Dependent Care FSA, also known as Dependent Care Assistance Plan (DCAP), employees can set aside money to cover various dependent care costs while they … Read more…

Benefits Debit Cards: Practical, Secure, Convenient

Today’s reality highlights the need for benefits debit cards. In a highly mobile, tech-driven society, card payments are the norm rather than the exception. Nearly everywhere, people can use their credit or debit cards as payment: at their doctor’s office, pharmacy, grocery store, retail shops, taxicabs, subway stations, and more. The speed, convenience and security … Read more…

Why Is Non-Discrimination Testing Important?

Health benefits are an effective tool for attracting and keeping talented employees, especially those in a company’s upper ranks. Health benefits are also a highly regulated industry. It should come as no surprise then that the IRS wants to make sure that health plans don’t discriminate against any group of employees. To enforce these regulations, the IRS requires health plans to undergo annual nondiscrimination testing. The results can have a big impact on a company’s benefits plan and employees. Learn why nondiscrimination testing is important for employers and how it can affect your business and workforce.