What the Cadillac Tax Repeal Means for Employers

what does the cadillac tax repeal mean for employers

In December, 2019, President Trump signed spending legislation that will repeal of an excise tax on high-cost health plans, known as the Cadillac Tax. The Cadillac Tax, which was scheduled to take effect in 2022, would have imposed a 40 percent excise tax on employer health plans, deemed by many to be too generous. Are…

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Changes to 2020 Health Care That Employees Might Not Know About

see what's coming around the bend for health plans in 2020

With the new benefits year around the corner, employees are likely making plans around their health care including Health Savings Account (HSA) and Flexible Spending Account (FSA) contributions, contemplating providers that they may need to visit and planning for the unexpected. As plans begin to form, employees should review these health care changes that are…

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FSA Contribution Limits Increase for 2020

the government has announced FSA limits for next year

For 2020, the IRS increased the new 2020 Flexible Spending Account (FSA) limit to $2,750. For groups that have already set their contribution limits to the 2019 amount of $2,700, Further will automatically update the amount to the 2020 limit of $2,750, unless notified otherwise within the next 30 days. A medical FSA is a…

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Understanding the New June 2019 HRA Regulations

Learn about the new HRA regulations passed by the government

You’ve likely been following the conversation around the proposed regulations to broaden HRA rules that began in October 2018. The proposed regulation broadens health reimbursement account (HRA) rules to allow employers to offer an HRA that reimburses an employee’s individual insurance premiums or a standalone HRA that reimburses medical expenses of up to $1,800 a…

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2020 HSA Contribution and HDHP Limits Announced

HSA contributions and HDHP deductibles increased for 2020

It’s that time of year again! On May 28, 2019, the IRS announced the following 2020 limits for health savings accounts (HSAs) and high deductible health plans (HDHPs). In 2020, individual HSA contribution limits will rise to $3,550; the family HSA contribution limit will rise to $7,100. The HDHP minimum deductible limit for individual coverage…

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Legislative Update: House Passes Two Bills Modernizing HSA and FSA Rules

US capital building

On July 25, 2018, the House passed two bills that would modernize health savings account (HSA) and flexible spending account (FSA) rules and expand consumers’ ability to cover their health care expenses. The Restoring Access to Medication and Modernizing Health Savings Accounts Act (H.R. 6199) and the Increasing Access to Lower Premium Plans and Expanding…

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