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HR News Alerts

IRS Releases New Guidance on QSEHRAs

Posted on November 2, 2017 07:06 PM

The Internal Revenue Service (IRS) has released guidance further clarifying the rules regulating qualified small employer health reimbursement arrangements (QSEHRAs). Highlights of the guidance are described in this update.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts, Reporting and Recordkeeping

IRS Releases 2018 Inflation Adjustments for Various Tax Benefits

Posted on October 19, 2017 06:28 PM

The Internal Revenue Service (IRS) has announced a number of inflation-adjusted tax items for 2018, some of which remain unchanged. Among other items, the annual dollar limit on employee contributions to employer-sponsored health flexible spending arrangements (FSAs) increases to $2,650 (up from $2,600).

Categories: Cafeteria Plans, Employee Benefits, Fringe Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS: Health FSAs Cannot be Used for Insurance Premiums

Posted on August 11, 2017 02:33 PM

A recently released IRS letter reaffirms the agency's view that funds from a health flexible spending arrangement (health FSA) may not be used to reimburse health insurance premium payments or Medicare premium expenses.

Categories: Health Insurance, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases 2018 Health Savings Account Limits

Posted on May 5, 2017 04:05 PM

The Internal Revenue Service (IRS) has announced the 2018 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

KY: Funds Deposited in Health Savings Accounts Are Exempt from Wage Attachments or Garnishments

Posted on April 18, 2017 04:46 PM

A new law in Kentucky exempts funds deposited in a health savings account from execution, attachment, or garnishment.

Categories: HSAs, FSAs and Other Tax-Favored Accounts, State Employment Laws

IRS Extends Period for Qualified Small Employers to Furnish Initial Written HRA Notice

Posted on February 28, 2017 03:59 PM

The Internal Revenue Service (IRS) has extended the period for an employer to furnish an initial written notice to its eligible employees regarding a qualified small employer health reimbursement arrangement (QSEHRA) and has delayed associated penalties until further guidance is issued.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases Publication 969 for Preparing 2016 Tax Returns

Posted on February 16, 2017 04:57 PM

The Internal Revenue Service (IRS) has released a new Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans, which contains information for use in preparing 2016 tax returns.

Categories: HSAs, FSAs and Other Tax-Favored Accounts

IRS: Participation in Both an HRA and an HSA is Permissible in Certain Circumstances

Posted on February 13, 2017 03:43 PM

IRS guidance clarifies that participation in both a health reimbursement arrangement (HRA) and a health savings account (HSA) is permissible in certain circumstances.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

Certain Small Employer HRAs Now Exempt From ACA Market Reforms

Posted on December 13, 2016 08:36 PM

President Obama has signed into law the 21st Century Cures Act, which, among other things, allows small employers to offer new "qualified small employer health reimbursement arrangements" to reimburse employees for qualified medical expenses, including individual health insurance premiums, for years after December 31, 2016. Small employers are defined as those with fewer than 50 full-time equivalent employees who do not offer a group health plan. 

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts, Reporting and Recordkeeping

IRS Releases 2017 Inflation Adjustments for Various Tax Benefits

Posted on October 26, 2016 02:08 PM

The Internal Revenue Service (IRS) has announced a number of inflation-adjusted tax items for 2017, some of which remain unchanged. Among other items, the annual dollar limit on employee contributions to employer-sponsored health flexible spending arrangements (FSAs) rises to $2,600 (up from $2,550 in 2016).

Categories: Cafeteria Plans, Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts