On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75, which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The IRS also announced the health savings account (HSA) and high deductible health plan (HDHP) annual deductible and out-of-pocket expense adjustments earlier this year
Understanding Employee Benefits and key developments in the employee benefits field and items of interest to our clients. MORE
Just in the Nick of Time – Congress Grants Second Extension of CARES Act Telehealth/HSA Relief
By Stephanie Schmid & Lisa Rippey on
Recently Congress passed the Consolidated Appropriations Act of 2023 (“2023 CAA”). Among other things, the 2023 CAA extends, for a second time, the telehealth relief provided under the CARES Act. The CARES Act permitted high deductible health plans (“HDHP”) to provide first-dollar telehealth services or other remote care services. This allowed individuals covered under a…
Temporary Extension of CARES Act Telehealth/HSA Relief Available
By Audrey Fenske, Lisa Rippey & Tom Dowling on
On March 15, 2022, the Consolidated Appropriations Act of 2022 (“2022 CAA”) was signed into law. Among other things, the 2022 CAA temporarily restores the telehealth relief provided under the CARES Act. The CARES Act permitted high deductible health plans (“HDHP”) to provide telehealth services or other remote care services without applying a deductible. This…
Annual Limits on Qualified Plans for 2021
By Nick Bertron on
On October 26, 2020, the Internal Revenue Service (IRS) released Notice 2020-79, which sets forth the 2021 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The IRS also announced the dollar limitation for employee salary reductions for contributions to health flexible spending arrangements in Revenue Procedure 2020-45. The…
Annual Limits on Qualified Plans for 2020
By Lisa Rippey on
On November 6, 2019, the Internal Revenue Service (IRS) released Notice 2019-59, which sets forth the 2020 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The IRS also announced the health savings account (HSA) and high deductible health plan (HDHP) annual deductible and out-of-pocket expense adjustments earlier this year…
HSA/HDHP Limits for 2013
By Stinson LLP on
The IRS has released the 2013 limits for Health Savings Account (HSA) contributions. The annual contribution limit for 2013 increases to $3,250 for an individual with self only coverage and $6,450 for an individual with family coverage from $3,100 and $6,250, respectively for 2012. The minimum annual deductible for a qualifying high deductible health plan…
Can You Decline Medicare if You Take Social Security?
By Stinson LLP on
The US Court of Appeals for the District of Columbia Circuit recently said no. A group of seniors, including former US House Majority Leader Dick Armey, had sued the federal government to be allowed to accept Social Security payments, but decline Medicare coverage. They preferred to keep their private coverage to being covered by…