SEARCH

… released several frequently asked questions (FAQs) that address whether certain costs related to nutrition, wellness and general health are medical expenses that may be paid or reimbursed under a health savings account (HSA), health flexible spending arrangement (FSA), Archer medical savings account (Archer MSA) or health reimbursement arrangement (HRA). The information has been available in the Internal Revenue Code (IRC) and various IRS publications for quite some time, but the FAQs provide clarifying guidance to the existing IRC. Section 213 of the IRC generally allows a deduction for expenses paid during the taxable year for medical care if certain …

… emergency end dates on their plans. Department of Labor Issues 2023 Adjusted Penalty Amounts Federal regulations require the Department of Labor (DOL) to adjust its civil money penalties for inflation annually, by January 15. A variety of penalties are updated for enforcement in 2023. Proposed Rules Create Individual Contraception Coverage Arrangement The Affordable Care Act (ACA) requires most health plans to cover contraceptive services at no cost-sharing. In 2018, final regulations allowed certain entities – those with religious or moral objections to contraception – a path to avoid the contraception requirement, and voluntarily offer an accommodation for plan participants to provide …

… you-go” plans). Top-off payments are due by the end of February following the calendar year for which they apply. For 2022 Expenditures, the due date is no later than February 28, 2023. Broker Compensation Disclosure Compliance Continues As part of the Consolidated Appropriations Act of 2021, (CAA) certain arrangements with those Employee Retirement Income Security Act (ERISA) health plans that are entered into, extended, or renewed on or after December 27, 2021, must include specific disclosures about compensation. The requirements are modeled after similar disclosures for retirement plans. The requirements are ongoing. Brokers and consultants who are covered …

… Telemedicine fees must be at least fair market value (FMV) when offered in conjunction with a high deductible health plan (HDHP). Temporary relief from the FMV rules has been in effect since 2020. Congress recently passed legislation extending relief for two more years. HRAs & HSAs Can Be Compatible Health Reimbursement Arrangement (HRA) design will determine whether high deductible health plan (HDHP) participants can also maintain eligibility to contribute to a health savings account (HSA). A general-purpose HRA offering will make all participants ineligible to contribute to an HSA. A post-deductible HRA or limited-purpose HRA will not interfere …