News from Washington Lisa Gomez Expects Fiduciary and ESG Rules to Face Reversals Under New AdministrationIn a public conversation at the PLANADVISER 360 conference in Scottsdale, Assistant Secretary of Labor Lisa Gomez acknowledged that the Department’s retirement security rule, which clarifies when financial professionals are fiduciaries while advising retirement plan participants, may not align with […]
Compliance Corner How Much Can You Contribute If Your Covered Spouse Is Also Enrolled on Medicare?Limits on HSA contributions are always based on the size of the contract, not how many family members covered on the plan are HSA-eligible. For example, if you cover at least one family member besides yourself, you can contribute up […]
HSA Studies and Analysis Only 1 HSA Provider Rated ‘High’ Quality by Morningstar. Here’s WhyOnly one out of the 11 HSA providers reviewed in Morningstar’s annual report card earned a “high quality” rating and just three others received “above average” ratings. Low interest rates for client cash holdings and higher relative fees for custody and […]
News from Washington 2025 Health FSA, Other Health and Fringe Benefit Limits Set On October 24, the IRS released the 2025 contribution and benefit limits for health FSAs, QSEHRAs, long-term care policies, transportation fringe benefits and adoption assistance programs. The 2025 figures reflect the increase in inflation for the 12 months ending August 31, 2024, after […]
HSA Studies & Analysis An HSA-Day Look at Where Health Savings Accounts Stand TodayIn celebration of HSA Day on October 15, here is a perspective on where the market is now, who’s benefiting from HSAs, and what changes we may see in the future. There is no doubt that HSAs are growing. Although the rate […]
News from Washington IRS Provides Hurricane Milton Relief; May 1 Deadline Now Applies to Individuals and Businesses in All of FloridaThe IRS announced that taxpayers impacted by recent hurricanes in all of Florida now have until May 1, 2025 to file various federal individual and business tax returns, make tax payments, and make 2024 contributions […]
HSA Consulting Services is pleased to issue the Certified HSA Expert, or “HSAe“, designation to Lisa Russell. Upon successful completion of the HSA Expert training program and passing our course exam, this certificate is issued as of October 7, 2024 and is valid for three years. Congratulations, Lisa!
News from Washington IRS Announces Tax Relief for Victims of Hurricane Helene; Various Deadlines Postponed to May 1, 2025The IRS announced tax relief for individuals and businesses in parts of Florida that were affected by Hurricane Helene that began on September 23, 2024. These taxpayers now have until May 1, 2025, to file various federal […]
News from Washington DOL Files Last Minute Appeal of the Fiduciary Rule’s StayThe Department of Labor appealed to the Fifth Circuit Court to reverse a ruling from the District Court for Eastern Texas that temporarily suspended the implementation of the 2024 Retirement Security Rule, also known as the fiduciary rule. The move came three days […]
News from Washington ABA HSA Council Supports House-Approved Flexible Medical Coverage BillA House bill (H.R. 3800) that would codify an IRS notice to expand the list of preventive care benefits permitted to be provided by high deductible health plans passed by voice vote on September 17. Kevin McKechnie, executive director of the American Bankers Association’s […]