May 6th, 2013 § Comments Off § permalink
Benefits Alert 2013-01
Trish Neely, CFCI
The IRS just released the cost of living adjustments for High Deductible Health Plans and Health Savings Accounts. These adjustments are important even if you do not have a high deductible plan. Beginning in 2014, a health plan’s out-of-pocket maximums for any given plan year cannot exceed the maximum permitted for the high-deductible health plan (HDHP) coverage for that year. As highlighted below, the dollar limits on the out-of-pocket maximum under an HDHP for 2014 are $6,350 for self-only coverage and $12,700 for family coverage.
January 31st, 2013 § Comments Off § permalink
Matt Coniglio & Trish Neely, CFCI
October 23rd, 2012 § Comments Off § permalink
Trish Neely, CFCI
To date we have HSA/HDHP adjustments, and the AARP recently released an estimated increase of 1.8 percent for Social Security Recipients for 2013 compared to a 3.6 percent increase in 2012. It is a bit early for retirement vehicles and qualified transportation benefits – expect those toward the end of the year. See companion article on qualified transportation benefits (QTB).
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May 10th, 2012 § Comments Off § permalink
Benefits Alert 2012-02
The IRS just released Revenue Procedure 2012-26 providing for the 2013 inflation adjusted deduction limitations for annual contributions made to a Health Savings Account (HSA) under IRC Section 223. We have amended the Cost of Living Adjustment chart below to include the new HSA amounts.
January 22nd, 2012 § Comments Off § permalink
Cost of Living adjustments for 2012 as compared to 2011 show slight increases in annual limits for retirement vehicles and Health Savings Accounts (HSAs); Transportation limits increased for Qualified Parking Expenses and decreased for Commuter and Transit Pass benefits.