The January 1, 2009 deadline for bringing health flexible spending accounts (“health FSAs”) into compliance with the IRS‘s new debit card rules has been extended to July 1, 2009.
In short, in 2007, the IRS issued guidance stating that, starting on January 1, 2009, participants could use health FSA …
In Notice 2008-59, the Treasury and IRS have recently provided guidance related to Health Savings Accounts (HSAs) in the form of 42 frequently asked questions and corresponding answers related to HSAs. HSAs are medical savings accounts which are available to US taxpayers who are enrolled in a High Deductible Health Plan. The funds from HSAs…
EMPLOYEE BENEFITS LAW ALERT
June 25, 2008
EFFECTIVE IMMEDIATELY – NEW LAW PROVIDES NEW EMPLOYEE BENEFIT
PLAN RIGHTS TO MEMBERS OF THE MILITARY AND THEIR SURVIVORS
Effective immediately, a new federal law, called the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act), requires action to be taken by sponsors of qualified retirement…
EMPLOYEE BENEFITS LAW ALERT
June 25, 2008
EFFECTIVE IMMEDIATELY – NEW LAW PROVIDES NEW EMPLOYEE BENEFIT
PLAN RIGHTS TO MEMBERS OF THE MILITARY AND THEIR SURVIVORS
Effective immediately, a new federal law, called the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act), requires action to be taken by sponsors of qualified retirement…
Introduction
A properly designed retirement program can increase a physician’s retirement plan benefit by more than $80,000 while decreasing the practice’s contribution to the non-physician and even non-owner physician employees by $20,000. If this $100,000 plus difference catches your attention, read the rest of the article! Our examples illustrate how similarly situated physicians can have dramatically different…
TUCKER ARENSBERG HEALTH PLAN SUBROGATION SERVICES
Aggressive Subrogation Saves on Health Plan Costs.
An aggressive subrogation program can save your business money on health plan costs. Tucker Arensberg has handled subrogation for employer health plans for many years. We like to tell the story about how one year, one subrogation recovery alone paid for all…
High Deductible Health Plan Limits:
· Deductible: The minimum deductible for HSA-qualified high deductible health plans is $1,100 for individual coverage and $2,200 …
Health Plan Subrogation – In the News
By Joni L. Landy, Esq.
In a nutshell, subrogation is the right of a health plan to recover money it paid out for medical care to treat injuries or conditions caused by another party. For example, subrogation may apply when a participant sustains injuries as a result of a slip and fall on a slippery sidewalk, or may apply if a participant is injured by another driver in a car accident. If the participant sues the party that caused his injuries and recovers, the health plan gets paid back from the recovery. Subrogation rights are typical provisions in health plans. Continue Reading Health Plan Subrogation – In the News
Can Medicare Premiums for the Account Holder’s 65 Year Old Spouse be Reimbursed from an HSA?
By: Joni Landy, Esq.
In general, the law prohibits distributions from an HSA for health insurance premiums. There are several exceptions. The only exception that can apply to Medicare premiums is the exception that allows for payment of health insurance (other than a Medicare supplemental policy) in the case of an account holder who has reached age 65 (the "65 Exception"). Continue Reading Health Savings Account Sticky Issue
By: Joni L. Landy, Esq.
New proposed cafeteria plan regulations were released on August 6, 2007 that replace prior proposed and temporary regulations, which are withdrawn, and consolidate law changes and guidance issued by the IRS over the past twenty years. The regulations preserve much of the existing guidance but clarify some outstanding issues and include a few new rules. Existing cafeteria plan regulations governing mid-year election changes and FMLA operations remain the same. This alert highlights some of the more notable new or clarifying provisions of the proposed regulations.Continue Reading IRS Releases New Proposed Cafeteria Plan Regulations
