SEARCH

Quick Facts A new disclosure requirement from the Illinois Department of Labor (IDOL) requires employers sponsoring health plans in Illinois to disclose a written list of offered benefits compared to the list of essential health benefits offered by the State of Illinois. According to the rule, because the requirement is on employers, not insurance plans, the disclosure is not preempted by the Employee Retirement Income Security Act (ERISA). The IDOL provided a sample chart of essential health benefits employers can use to fulfill the disclosure requirement. There are penalties for failure to comply. Background On August 27, 2021, the Consumer …

… 2021. Health Flexible Spending Arrangements The annual contribution limit of $2,850 for health FSAs applies specifically to employee contributions: The same limit applies for general-purpose and limited-purpose health FSAs. Employer contributions are not subject to the limit but are subject to different restrictions under healthcare reform rules. Employee Health FSA Contributions Employee contributions subject to the $2,850 annual limit include: Amounts deducted pre-tax from an employee’s compensation through a cafeteria plan; and Employer flex credits that the employee has the option to use toward cash or other taxable benefits. Employees may elect up to …