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.
Category: Industry Insights
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Supreme Court’s ACA Decision Reaffirms Need for Flexible Benefit Plans for Healthcare Solutions
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.
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Secretaries Duncan and Sebelius remind graduating students of new health coverage options under health care law
Secretaries reach out to college presidents, student associations; outreach tools available at www.HealthCare.gov.
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$2500 Limit for Health FSAs
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.