Health Savings Accounts

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    It’s common for employers to provide certain benefits for their employees, many of which are subject to strict rules under the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code, and other laws. Employee benefits can include:  Paid holiday, vacation, and sick leave; Medical, dental, and vision insurance;...

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    The enactment of the Affordable Care Act (ACA) in 2010 began an extended period during which far-reaching changes to the American healthcare system started taking effect. The provisions of the ACA go into effect over several years. Immediate Reforms The ACA included several provisions that immediately affected employers by subjecting health...

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    To a great extent, you may have to swallow the cost of rising health care benefits. But one alternative that many employers are taking advantage of is the cafeteria plan. These plans can reduce your costs and give employees more choice and flexibility of benefits. Unlike traditional one-size-fits-all benefits – which offer employees a...

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    I've worn a beard for most of my adult life, and I appreciate a solid growth of men's facial hair. So I couldn't help noticing an article last week touting a growing industry in Turkey: mustache transplants. For a mere $5,000, a "follicly challenged" man can have a cosmetic surgeon enhance his mustache or beard. The procedure is done under...
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    The Affordable Care Act (ACA) has already had an enormous impact on the structure of health insurance and the provision of health care in America. However, because nearly 60 percent of the under-65 population has health insurance through their employment, employers are the ones that face pressing decisions and must respond to regulatory and...
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    Congress passed the American Taxpayer Relief Act of 2012 on New Year's Day, and the president signed it into law the next day. The Act prevents income tax rate increases for most taxpayers. Included in the Act is a retroactive temporary increase in the income exclusion in the Internal Revenue Code for employer-provided mass-transit and vanpool...
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    In June, the U.S. Supreme Court released its highly anticipated decision regarding the Affordable Care Act (ACA), commonly referred to as "Obamacare." In a decision that surprised (and/or angered) many, the Court upheld the constitutionality of the Act by a slim 5-4 margin. Chief Justice John Roberts, a George W. Bush appointee known for his...
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    As part of healthcare reform, a new dollar limit on benefits available under the popular employee health flexible spending account (FSA) takes effect in 2013. The IRS recently issued guidance intended to help employers and employees comply with the new requirement. Background Under Section 125 of the Internal Revenue Code, an...
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    On December 23, 2010, the IRS provided additional guidance on the continued use of health flexible spending account (FSA) and health reimbursement account (HRA) debit cards for purchasing prescribed over- the-counter (OTC) medicines and drugs. After January 15, 2011, such debit card use must comply with procedures...
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    Over the past two decades, the flexible spending account (FSA) has become a familiar component of employee health care programs. FSAs allow employees to pay costs not covered by the employer's core health plan on a pretax basis and have proven hugely popular with employers and employees alike. Over the years, the IRS has...
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