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Your 2025 benefits compliance checklist: What you need to know

WEX Inc.

Flexible spending accounts (FSA) Flexible spending accounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline. It is not legal or tax advice. March 3, 2025: Provide 1095-C forms to employees.

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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

Allowing employees who had enrolled in one health plan option under their group health plan to change to another plan (such as switching insurance carriers or opting for a silver plan instead of a bronze plan). For 2022, the affordability level will be 9.61% of their household income, down from 9.83% in 2021.

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Best practices to avoid receipt requests

Benefit Resource Inc.

Pay for all the eligible medical items first with your pre-tax benefits card. An Explanation of Benefits (EOB) from your insurance carrier or healthcare provider gets it resolved in no time. When shopping at an IIAS merchant to avoid a receipt request, take the following steps: Have the sales clerk total your entire purchase.

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Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

Additionally, account-based plans, like health reimbursement arrangements (HRAs) and health care flexible spending accounts (FSAs), are not required to report. Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt.

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Baby Health Insurance Playbook: 5 Steps to Plan for a Newborn

Corporate Synergies

A flexible spending account (FSA), which can be used to cover childcare and medical costs tax-free. A health savings account (HSA), which can also be used to cover medical expenses tax-free. But increasingly, doctors offer additional genetic screening and diagnostic tests that may not be covered under insurance.

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February HR News Worth Review

Higginbotham

The FAQs also address how a plan’s or issuer’s coverage of OTC COVID-19 tests impacts health flexible spending arrangements (FSAs) and similar account-based plans. Most all insurance carriers are handling the coverage and availability requirements for their clients. Employer Takeaway. The updated PCORI fee amount is $2.79

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Health Care Reform: 4 Ways to Find Health Insurance for Your Business

Insperity

Though the employer mandate provisions of the Affordable Care Act have been delayed, health care insurance costs, taxes and fees are expected to continue to climb. Postponing your decision to provide health care insurance could prove to be very costly for your business. Use a health insurance broker.