FREE ID Theft Protection

Zero Liability 3-in-1 ID Theft Protection Available to All Participants Using FBA’s Benefits Card   Flexible Benefit Administrators, Inc. in combination with Mastercard® has partnered with CSID®, an industry leader in identity protection and fraud detection, to help keep pre-tax employees’ information safe. To register free of charge participants should navigate to www.mastercard.us/idtheftprotection and enter their 16 digit Mastercard® number…

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IRS Update to HSA Coverage

Effective July 17, 2019, high deductible health plans (HDHPs) can now provide pre-deductible coverage for certain chronic conditions without jeopardizing a participant’s Health Savings Account (HSA) eligibility. Individuals covered by an HSA may establish and deduct contributions to an HSA as long as they have no disqualifying health coverage. HSAs are a valuable tool that offer significant savings over traditional…

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IRS APPROVES NEW HRAS

Starting January 1, 2020, two new Health Reimbursement Arrangements (HRAs) will be available to employers – the Individual Coverage HRA and Excepted Benefit HRA. The Internal Revenue Service (IRS) issued the ruling June 13th after Trump Administration’s October 2017 executive order on healthcare choice and competition. What are HRAs? An HRA is an IRS-approved, employer-funded, tax-advantaged benefit plan that is…

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IRS ANNOUNCES 2019 LIMITS

Today, November 15, 2018, at 10: 30 am EST the IRS announced the new 2019 limits for Pre-Tax Plans in Revenue Procedure 2018-57. The 2019 Health Savings Account (HSA) contribution limits, out-of-pocket maximums and high deductible health plan (HDHP) deductibles were announced earlier this year. Each of the updates are set forth below: If you need or wish to change your group’s…

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COBRA ELECTION NOTICES – RECENT NEWS

Are you required to provide COBRA notices in another language (non-English)? Recently, it was reported that a class action lawsuit was filed, alleging that a hotel chain failed to provide sufficient notification for COBRA benefits for terminated employees because the notices were not provided in alternative languages, such as Spanish. The class action lawsuit is concentrating on the notice as…

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UPDATED LIMITS FOR 2019 HIGH DEDUCTIBLE PLANS & HSAS

On May 10, the IRS announced 2019 Health Savings Account contribution limit increases within their release of Revenue Procedure 2018-30 In 2019, the HSA contribution limit for an individual will increase by $50 to $3,500 and for a family by $100 to $7,000.  As a reminder, the 2018 family contribution limit recently increased to $6,900 with the update released by the IRS* on…

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