Flexible Spending Accounts are reimbursement accounts that allow you to pay for certain eligible expenses with tax-free dollars.
The following is a brief list of year-end items and adjustments that you should be aware of as we close 2013 and head into to 2014
The U.S. Department of the Treasury and the IRS today issued a notice modifying the longstanding “use-or-lose” rule for health flexible spending arrangements (FSAs). For the first time, at the plan sponsor’s option, employees participating in health FSAs will be allowed to carry over – instead of forfeiting – up to $500 of unused amounts remaining at year-end.
The new health insurance exchanges established by the ACA are scheduled for launch on October 1, 2013. On that date, individual consumers and Members of Congress can begin to enroll in the health exchanges, with coverage starting on January 1, 2014.
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During last week’s Fourth of July holiday break, the Obama Administration announced a one-year delay in penalties and reporting requirements that larger employers would have faced beginning next year under the Affordable Care Act (ACA) if they did not offer health coverage to their workers.
Glynn Griffing & Associates is happy to announce a new partnership with FSAstore.com, the only e-commerce site exclusively stocked with FSA eligible products and services, to provide expanded access to consumers who use FSAs.
In April 1988, Glynn Griffing took a leap of faith and incorporated Glynn Griffing & Associates. Since then, his company has been dedicated to Employee Benefits administration and providing the best insurance products to our clients. G
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