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Admin America, Inc.
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Each year in May the IRS releases the inflation adjusted limits for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs) applicable for the following calendar year. The limits announced last month for 2022 in IRS Revenue Procedure 2021-25…
On March 26, 2021 the IRS released guidance which allows Health Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs) to reimburse plan participants for amounts paid to purchase face masks and other personal protective equipment used to prevent COVID-19. …
In March, the IRS announced that Federal income tax returns and any tax payments in connection with those forms, with an original due date of April 15, 2021, are now due May 17, 2021. The filing and payment extension for…
Last week the U.S. Department of Labor issued guidance regarding when certain COVID-19 related deadline extensions will end. This new guidance was released in EBSA Disaster Relief Notice 2021-01 which can be found online here. In short, the guidance clarifies…
Each year in May the IRS releases the inflation adjusted limits for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs) applicable for the following calendar year. The limits announced last month for 2021 in IRS Revenue Procedure 2020-32…
Admin America, Inc. in-house attorney and President, Trey Tompkins, presents an update on recent federal rule changes impacting employee benefit plans. Covered topics include: IRS Notice 2020-33 IRS Notice 2020-29 EBSA Disaster Relief Notice 2020-01 26 CFR Part 54…
The federal government has responded to the coronavirus pandemic with numerous legislative and regulatory changes to help Americans deal with the health and economic challenges we are going through this Spring. Included along with the stimulus checks, loan packages and enhanced unemployment benefits are other provisions that, while smaller in impact, should prove beneficial to families covered by account based health reimbursement plans.
One of these changes that will impact the largest number of plan participants is the permanent repeal of the requirement for a prescription issued by a physician in order for Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs) to reimburse the cost of over-the-counter medications. This repeal was an element of the CARES Act signed by President Trump on Friday, March 27 but is retroactive to January 1 of this year for all plans. In addition, the CARES Act also authorized, for the first time, all three types of account based plans to reimburse feminine hygiene products….