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As we step into 2024, the landscape of employee benefits and perks is continuously evolving. They can range from traditional benefits like health insurance and retirement plans to more modern and creative offerings that cater to employees’ diverse needs and interests.
The Internal Revenue Service (IRS) recently announced (see Revenue Procedure 2024-25) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductiblehealth plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2025.
Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2023-23) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductiblehealth plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2024.
The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits have not yet been released.
On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.
The Consolidated Appropriations Act (CAA), 2023 (Public Law 117-328), extended certain key virtual care flexibilities instituted during the COVID-19 public health emergency through December 31, 2024. This includes the telehealth safe harbor for health savings account-eligible high deductiblehealth plans.
If you sponsor a high deductiblehealth plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.
Inflation is on the rise and so are the prices of everything, from gasoline to housing, with health benefits in the workplace the latest to report worrying numbers. Health benefits for employees are proving to be a huge investment for employers , with total health benefit cost per employee expected to rise 5.4%
Take the example of a leading technology company where, by just introducing flex-time for its employees, allowing them to work from home, and far better health benefits, the whole approach toward implementing employee benefits was changed. Health insurance Arguably, this is the most important prerequisite of a good benefits package.
If you sponsor a high deductiblehealth plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.
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 following chart summarizes the 2024 limits for benefit plans. The 2023 limits are provided for reference.
Important UpdatePre-Deductible Telehealth HSA Relief Ends on December 31, 2024 : As discussed in our post below, although extension of the telehealth safe harbor was included in various bill drafts, the year-end spending bill signed into law on December 21, 2024 (American Relief Act, 2025) does not include pre-deductible telehealth relief.
The Mental Health Parity and Addiction Equity Act (MHPAEA) generally requires group health plans and health insurance issuers to ensure that financial requirements (such as copays and deductibles), quantitative treatment limitations (such as visit limits), and nonquantitative treatment limitations (such as prior authorization and concurrent review) (..)
The Internal Revenue Service (IRS) recently released Internal Revenue Bulletin 2024-44. The Bulletin includes Notice 2024-71, which provides a safe harbor under Internal Revenue Code § 213(d), treating amounts paid for condoms as medical care expenses eligible for reimbursement under various health plans.
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