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IRS Encourages 2016 FSA Usage

November 17th, 2015

In IRS release IR-2015-126 the IRS encourages employees to take full advantage of their employer’s flexible spending arrangement (FSA) during 2016.  For many employer FSA plans the open enrollment period for making a 2016 election is occuring now.

Employees of plans being administered by Rocky Mountain Reserve may contact or 888.722.1223 x1 for more information.  Employees of groups not being administered by RMR are encouraged to contact their HR or Benefits department for additional information.

Small Business Healthcare Relief Act of 2015

July 27th, 2015

The SBHRA of 2015 is proposed legislation that would allow small businesses to use tax-advantaged funding arrangements to assist their employees with the purchase of health insurance coverage on the individual market.  Click here to see a summary of the legislation.

IRS Reiterates Ban on Employer Paid Individual Health Insurance Premiums

February 20th, 2015

The IRS released Notice 2015-17 which reiterates the position that, except in narrow circumstances, an employer may not reimburse or pay for employee individual health insurance without violating the ACA’s annual dollar limit and preventive services mandates.  This EBIA release offers additional commentary.

DOL FAQ Reiterates ACA Stance on Individual Health Policies

November 6th, 2014

Today, November 6, 2014, the DOL reiterated it’s position that individual health policies cannot be paid with pre-tax dollars. The DOL position was explained in DOL FAQs About Affordable Care Act Implementation (Part XXII).

IRS COLA Adjustments for 2015

October 31st, 2014

The IRS announced annual cost of living adjustments (COLA) for 2015. Notably, the annual cap on Health Flexible Spending Arrangements (FSA) has been increased from $2500 to $2550 for 2015 plan years.

Also, the Qualified Transportation Fringe Benefit limitations for 2015 will be $130 per month for transportation in a commuter highway vehicle and for transit passes and the monthly limitation for qualified parking in 2015 will be $250.

The 2015 COLAs are listed in IRS Revenue Procedure 2014-61.