IRS Announces HSA Limits for 2020

Contribution Limits, HSA, IRS

On May 28, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2020. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses.

by Mike Radakovich

IRS Releases Information Letter on Returning HSA Contributions to an Employer

HSA, Insurance, IRS

Generally, a person’s interest in a Health Savings Account (HSA) is nonforfeitable. However, in the past, the Internal Revenue Service’s Notice 2008-59 described limited circumstances under which an employer may recoup contributions made to an employee’s HSA.

by Mike Radakovich

PCORI Fee Increase for Health Plans | California Benefits Consultants

ACA, Employers, HRA, HSA, Human Resources, Insurance, Law Updates, PCORI, QSEHRA, Self-insured

On November 5, 2018, the Internal Revenue Service (IRS) released Notice 2018-85 to announce that the health plan Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending between October 1, 2018 and September 30, 2019 will be $2.45 per plan participant. This is an increase from the prior year’s fee of $2.39 due to an inflation adjustment.

by Mike Radakovich

Choosing the Right Flexible Benefit for Employees | Cupertino Benefits Agency

Dependant Care, Employee Benefits, Employees, Employers, FSA, Health Plans, HRA, HSA, Human Resources, Insurance, Open Enrollment

Trying to decide which of the many employer-sponsored benefits out there to offer employees can leave an employer feeling lost in a confusing bowl of alphabet soup—HSA? FSA? DCAP? HRA? What does it mean if a benefit is “limited” or “post-deductible”? Which one is use-it-or-lose-it? Which one has a rollover? What are the limits on each benefit?—and so on.

by Mike Radakovich