Home > Benefits Blog > News

IRS Announces 2019 Adjustments

(comments: 0)
Category: CDHC, Flexible Spending, IRS, Transit and Parking Section 132,

Today, the IRS announced Revenue Procedure 2018-57 which provides the 2019 cost-of-living increases for inflation for certain items. In 2019, the:

  • Annual healthcare flexible spending account (FSA) contribution limits will increase $50 from the current amount of $2,650 to $2,700
  • Monthly limit for transit and parking will increase $5 from the current amount of $260 to $265
  • Annual maximum reimbursement for a qualified small employer health reimbursement arrangement (QSEHRA) will increase $100 for individual coverage from the current amount of $5,050 to $5,150, and the maximum reimbursement amount will increase $200 for family coverage from the current amount of $10,250 to $10,450

As a reminder, on May 10, 2018, the IRS announced 2019 health savings account (HSA) contributions limit increases. In 2019, the annual HSA contribution limit for individual coverage will increase $50 from the current $3,450 to $3,500, and the family coverage contribution limit will increase $100 from the current $6,900 to $7,000.

If you have any questions, please contact your Service Delivery Manager for more information. 

Read more >

Fighting for Commuter Benefits in Tax Reform

(comments: 0)
Category: Compliance and Regulatory, Parking, Transit, Transit and Parking Section 132,

The new Congress and particularly the House Ways & Means Committee continue work on legislation to simplify and reform the tax code. One potential provision could be the elimination of the Commuter Benefit (IRC Section 132(f)). The threat of eliminating the parking and transit benefit is real and the consequences are significant.

Read more >

MTA NYCT Fare Increase Effective April 2017 Benefit Month

(comments: 0)
Category: Commuter, Transit, Transit and Parking Section 132,

The MTA New York City Transit (NYCT) has confirmed an approved fare increase that is effective on March 19, 2017, corresponding with the April 2017 benefit month.

It is our understanding there will be a fare increase for both Metro North Railroad (MNR) and Long Island Rail Road (LIRR), which will also correspond to the April 2017 benefit month.  

Read more >

Use commuter benefits cards to pay for uberPOOL and Lyft Line rides

(comments: 0)
Category: Commuter, Parking, Transit, Transit and Parking Section 132,

American Benefits Group, a leading national provider of pre-tax commuter benefits announces a new addition to our commuter benefits program. We have recently partnered with Uber and Lyft to offer a solution that will allow employees to pay for uberPOOL and Lyft Line rides with their ABG Prepaid MasterCard and the Commuter Check Prepaid MasterCard. Beginning immediately, employees can use their Commuter Benefit to pay for uberPOOL and Lyft Line rides to commute to and from work.

Download uberPOOL flyer
Download Lyft Line flyer 

Read more >

IRS Announces 2017 Health FSA and Commuter Plan Limits

(comments: 0)
Category: Commuter, Compliance and Regulatory, Flexible Spending, FSA, Transit and Parking Section 132,

On October 26, 2016, the IRS announced the 2017 annual inflation adjustments, which included increased limits for Health Flexible Spending Accounts (FSAs) under an IRC §125 cafeteria plan. The Parking and Transit limits for 2017 remain the same.

Read more >

American Benefits Group is Featured in the current edition of BusinessWest

(comments: 0)
Category: CDHC, COBRA, Flexible Spending, FSA, Health Reimbursement, Health Reimbursement Arrangements, Health Savings, HRA, HSA, Section 125 Plans, Transit and Parking Section 132,

When Bob Cummings started out in benefits administration, health-insurance co-pays were $3, premiums were well under $100 a month, his office ran on MS-DOS, and it issued paper statements. Much has changed since then, obviously, but not his company’s success formula, based on personalization, creativity, knowledge of a complex and ever-changing subject, and what American Benefits Group prefers to call ‘enabling technology.’
 
George O'Brien on October 5, 2015 in BusinessWest


See the entire American Benefits Group story in the October 5th Issue of BusinessWest and BusinessWest.com 
http://businesswest.com/blog/abg-thrives-in-complex-world-of-benefits-administration/ 

Read more >

SB1339 Bay Area Commuter Benefits is Official

(comments: 0)
Category: Transit, Transit and Parking Section 132,

San Francisco recently took a major step in helping both its hard-working citizens and the environment. On March 26, 2014, the SB 1339 Bay Area Commuter Benefits Program became official. Now the Bay Area Air District and the Metropolitan Transportation Commission (MTC) will be working together with their regional Bay Area commuter policy, which mandates that all employers with 50 or more full-time employees, offer commuter benefits to both full-time workers and those that work at least 20 hours a week. Employers have until September 30, 2014, to comply with the SB 1339 Bay Area Commuter Benefits Program.

Read more >

San Francisco Bay Area Passes Regional Commuter Benefit Legislation

(comments: 0)
Category: Transit and Parking Section 132,

Achieving lower commuting costs and climate protection without raising taxes.

March 26, 2014 - (Boston, MA) Today, the Metropolitan Transportation Commission approved Regulation 14 Rule 1 of the Bay Area Air Quality Management District, which requires a commuter benefit program to be in place for all employers that have 50 or more full-time employees in the nine-county Bay Area. This regulation is a result of SB 1339, which was signed into law by Governor Brown, requiring a pilot project to be in effect until January 2017. According to the text of the bill, SB 1339, the state believes that by requiring large employers to offer commuter benefit programs, it will encourage greater use of mass transit and vanpools. For those employees who already commute to work using mass transit, it will offer them significant tax savings. Participating employers will also reduce their tax burden. Employers will have until September 30, 2014, to comply with this regulation.

Read more >

New York may enact mandatory 132 Transit Benefit Program


Category: Compliance and Regulatory, Flexible Spending, State Legislation, Taxes, Transit and Parking Section 132,

New York State is considering similar legislation for employers with fifty or more employees to establish a qualified transportation fringe benefit program consistent with section 132 of the internal revenue code (IRS).

Read more >