Trish Neely, CFCI

Go through our two checklists to make sure you have all reform-related activities for 2012 completed and that you know what is required of you for 2013.

Trish Neely, CFCI

Q1. When is the effective date?

A. With the start of the first plan year after 12/31/2012.

Q2. Is the cap applied to the amount contributed by both the employee and employer?

A. The cap applies only to an employee’s salary reduction contributions; it does not apply to any employer contribution.

Benefits Alert 2012-05

Several clients have requested amendments to their current Medical FSA plan documents and summaries for their corresponding SPDs. We recommend you delay until the first quarter of 2013.

Why do we recommend a delay?

First. We reported to you in BA 2012-03 that the Treasury Department and the IRS were considering whether the use-or-lose rule for health FSAs should be modified. They invited comments from tax payers and more than 1,000 letters were received by the 8/14/12 deadline. As we suspected, the majority were in favor of a rollover of unspent contributions and elimination of use-it-lose-it.

Summer Shorts

Outlook for Tax Favored Accounts: What is their future post-Supreme Court Ruling?

Use it or Lose it: Is it time for this rule to go?

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With Reform, Size Matters

When it comes to the Affordable Care Act, size does matter; unfortunately for employers it’s not as simple as one size fits all. Depending upon the provision, you may be small if you have less than 200 employees, less than 100, less than 50, less than 49, less than 25, or less than 250. How does an employer keep it straight?
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PPACA: It’s Constitutional . . . Time to Refocus

If, as an employer, you took time out from implementation awaiting the Supreme Court ruling, it is time to resume compliance activities due this year and begin preparing for requirements coming due in 2013. August, September, January and March all include milestone dates that must be met by most employers. Are you ready?
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Health Care Reform for You, Me & Our Families

The Supreme Court ruled that health care reform legislation passed in 2010 is Constitutional. The legislation applies to major medical health plans regardless if you receive your benefits at the workplace or purchase directly with an insurer for yourself and/or your family. Putting aside the continued controversy and vows of repeal or change, it is important that we understand how certain of the reforms and mandates, as they exist today or that are soon to be implemented barring repeal, will impact our access to care.
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New FMLA Guide for Employees: It’s also useful for Employers!

The Department of Labor (DOL) through its Wage and Hour Division (WHD) recently issued a new FMLA Guide for Employees. FMLA (Family Medical Leave Act) provides unpaid, job-protected leave. FBMC’s Monique Akanbi, HR Specialist speaks frankly with the author and provides her perspective on FMLAs advantages to employees and challenges for employers.
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QR Wins i-COMM

FBMC’s Quarterly Review newsletter has been awarded Employee Benefits News’ (EBN) i-COMM Best Print or Online Employee Newsletter award in 2012. For the past 22 years, the Quarterly Review has educated clients, friends and employees about industry news and trends or regulatory changes made by government agencies.
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Outlook for TFAs

Trish Neely, CFCI

Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Medical Flexible Spending Arrangements (MFSAs) are individual account-based health plans; HRAs and HSAs are also linked to health plans.  What is their future post-Supreme Court Ruling?