One in three workers will lose their flexible spending account (FSA) money. That is because some 33 percent of employees are holding balances in “use-it-or-lose-it” FSA’s intended for out-of-pocket medical expenses.
Effective January, 1, 2013, GGAA will administrate your Section 125/Cafeteria Plan with software developed by Datapath. We are excited about the transition and are currently working diligently to make preparations for the conversion.
As we near the end of the year, it’s wise to spend all of your FSA dollars — lest they disappear forever. From medical procedures to prescription drugs, these funds can be used to cover a variety of expenses, so find out what’s covered and don’t leave money sitting in your account.
Glynn Griffing & Associates is excited to announce the purchase of a new office building.
Washington, D.C. — The Supreme Court’s decision upholding the Affordable Care Act (ACA) reaffirms the need for employer-based plans to operate efficiently and effectively to provide the most valuable coverage possible to employees through flexible benefit and individual account plans, and the Employers Council on Flexible Compensation remains committed to advocating for these tax-advantaged accounts.
A terminated employee sued her former employer for failure to provide a COBRA election notice under its group health plan, alleging that the employer knowingly directed its TPA to mail the notice to the wrong address. In a preliminary ruling, the court determined that factual disputes concerning the employee’s last-known address must be resolved at trial.
Secretaries reach out to college presidents, student associations; outreach tools available at www.HealthCare.gov.
IRS guidance is out regarding $2500 limit for Health FSAs. More specifically guidance indicates that “taxable year” refers to the plan’s “plan year”; therefore, the rule will not affect any plans beginning prior to January 1, 2013 and fiscal plan years will not be impacted until the first plan year beginning on or after January 1, 2013.