Our next Clear60 interactive event series aims to provide insight on the similarities and distinctions between the many tax-favored accounts available to employer groups and their interaction with a high deductible health plan (HDHP)....
Employers that provide an ICHRA must furnish written notice to each participant containing information such as a description of the HRA’s terms, a statement that the HRA may not reimburse medical expenses unless substantiation requirements are met, and the contact information of a person who...
Employers often can feel lost when trying to decide which employee benefits to offer. Read this blog post to learn about the pros and cons of FSAs, HSAs and HRAs....
Yesterday, President Trump used his pen to set his sights on healthcare having completed the signing of an executive order after Congress failed to repeal ObamaCare. Here’s a quick dig into some of what this order means and who might be impacted from yesterday's signing. A Focus...
Originally posted by United Benefits Advisor. To understand which option is best for your particular situation, it's essential to know the differences between health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs). Answers to the top questions about these account-based plans...
Original post ubabenefits.com When you slice the UBA survey data by industry, some big differences emerge. Singles/families in the accommodation/food services industries received virtually no support from employers, with average HSA contributions at $149 and $172 respectively. Government employers, on the other hand, offer the most generous contributions...
Original post ubabenefits.com Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has their own account, at least for bookkeeping purposes. Under the tax rules, amounts may be...
Original post ubabenefits.com An Applicable Large Employer (ALE) that offers minimum essential coverage (MEC) to substantially all of its full-time employees may still owe penalties if the coverage it offers is inadequate because it is not “affordable” or it does not provide “minimum value.” Coverage is...
Confusion about carrying over unused funds from year to year in health care flexible spending accounts (FSAs) has received some clarification under IRS Notice 2015-87, issued in December....
The Affordable Care Act (ACA) implemented section 6055 of the Internal Revenue Code, which requires IRS reporting from any entity that provides "minimum essential coverage" (MEC) to individuals. Employers who are applicable large employers (ALEs) have related reporting obligations under section 6056. Read more here...