Implementing the Health FSA Carryover: Tips and Traps
The IRS recently issued guidance modifying the “use it or lose it” rule, which has long been the most unpopular feature of health flexible spending accounts (health FSAs) commonly offered under a...
View ArticleOverview of Recent Health Care Reform Guidance and Other Events Affecting...
IRS Releases 2014 Limits for Welfare Benefit Plans The IRS has released the 2014 inflation-adjusted maximums for certain employee welfare benefit plans and the dollar amounts used for certain...
View ArticleMore Post-DOMA Guidance from the IRS – Cafeteria Plans, FSAs and HSAs
Since the Supreme Court ruled section 3 of DOMA unconstitutional in United States v. Windsor, benefits practitioners have been eagerly awaiting IRSguidance as to how the decision impacts employee...
View ArticleIRS Provides Guidance For Cafeteria Plans And Health Savings Accounts On...
In General. In Notice 2014-1, the IRS provides guidance on the application of the rules under section 125 of the Internal Revenue Code (the “Code”) (relating to cafeteria plans, including health,...
View ArticleWhen To Amend Cafeteria, HSA and FSAs to Reflect DOMA Decision
Ann Murray, J.D., LL.M. & Sam Choy J.D., LL.M., McKenna, Long, & Aldridge, LLP Employers now have guidance on how and when they can amend their cafeteria plans, health savings accounts, and...
View ArticleCorrection of Health FSA Payments
The IRS recently released, CCA 201413006, which is an IRS Chief Counsel Advice memorandum. It is informal guidance only. This CAA addresses correction procedures for improper health FSA payments. It...
View ArticleInteraction Between HSA and Health FSA
The IRS recently issued CCA 201413005, which is an IRS Chief Counsel Advice memorandum. It is informal guidance only. The CCA addresses seven separate issues with respect to HSAs and health FSAs. One...
View ArticlePost-Windsor Same-Sex Participant Guidance May Require Mid-Year Plan Amendments
Employers and fiduciaries of 401(k) plans should take note of the potential need to adopt a mid-year amendment to their plans to comply with new guidance of the Internal Revenue Service (IRS)...
View ArticleNew Cafeteria Plan Guidance Eases Transitions to Exchange Coverage
IRS Notice 2014-55, issued September 18, 2014, permits two new types of mid-year changes in cafeteria plan elections (other than health flexible spending account elections) that will enable employees...
View Article2015 is lurking: are your health and welfare and cafeteria plans up-to-date?
The snow falling outside my window right now is a stark reminder that the end of 2014 is right around the corner. With 2015 approaching, employers should take a moment to ensure their health and...
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