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 In addition to approving federal spending for 2020, the bill also repealed the Cadillac Tax and extended PCORI – which are important for employers.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…

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…

The Summary Plan Description – An Explanation

Summary Plan Description

If you sign up for healthcare benefits through your employer, you have access to your company’s Summary Plan Description (SPD). In short, the SPD provides important details about your benefits plan and how the plan works. An SPD is required by law and must define when employees become eligible to participate in the plan, how … Read more…