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HSA Contributions and Assets Continue Rapid Growth Curve


Category: CDHC, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, Taxes,

More Americans are using HSAs to save and pay for medical expenses, according to a new report from the J.P. Morgan Treasury Services. The report shows the average HSA balance is up 7 percent from 2009, at $1,494, and the average account contribution rose slightly in 2010 to $1,884, compared to $1,816 in 2009.

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Proposed Family and Retirement Health Investment Act of 2011 would benefits FSAs and HSAs


Category: CDHC, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Savings, HSA, IRS,

Sen. Orrin Hatch, R-Utah, introduced Thursday a bill that would modify and streamline rules for health savings accounts and flexible spending accounts.

Companion legislation was introduced in the U.S. House of Representatives by U.S. Rep. Erik Paulsen (R-Minn.).

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Restoration of OTC expenses for FSA, HRA and HSA gains momentum


Category: CDHC, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IIAS, PPACA,

This morning a long front-page article in the Wall Street Journal attacks the adverse impact of PPACA restrictions on OTC purchases by FSAs, coming just as several bills are introduced in House and Senate to fix CDH accounts.

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IRS Expands Use of Debit Card for OTC Drugs


Category: Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HSA, IRS,

On Thursday, December 23, 2010, the IRS issued Notice 2011-5, which clarifies the rules for when a Health FSA or Health Reimbursement Arrangement (HRA) may reimburse prescribed over-the-counter (OTC) medicine or drugs.

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Simple Cafeteria Plans - A GIFT for small employers.


Category: Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, IRS,

Effective January 1, 2011, certain employers that establish “simple cafeteria plans” are exempt from the Code Section 125 nondiscrimination requirements as well as the non-discrimination requirements applicable to the plans offered through the cafeteria plan (e.g. Code Section 129 non-discrimination testing for dependent care FSAs, Code Section 105(h) non-discrimination testing for self-insured medical plans, etc).

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SIMPLE Cafeteria Plans Provide a "Safe Harbor" from Non-discrimination Testing.


Category: Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform,

The good news is that the new SIMPLE cafeteria plan regulations provide for a "safe harbor" from non-discrimination testing requirements for small employers that allow employees to contribute to health insurance premiums on a pre-tax basis.

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SIGIS Releases Significant Updates to IIAS Eligible Products List


Category: Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HSA, IIAS,

In response to new IRS guidance issued on Friday, September 3, 2010, the organization that manages the IIAS standard, SIGIS, is making significant changes to its Eligible Products List . The guidance, issued by the IRS in Notice 2010-59 in response

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