HSA Compliance Corner Different Contributions for New Hires? Yes, but Be Sure to . . .Employers can determine how to treat workers who become HSA-eligible after the first day of their HSA contribution year. Some employer-contribution policies require some thought around how to handle mid-year eligibility. Other policies often require no modification. Employers should make […]
HSA Consulting Services is pleased to issue the Certified HSA Expert, or “HSAe“, designation to Kristina Frey. Upon successful completion of the HSA Expert training program and passing our course exam, this certificate is issued as of November 22, 2023 and is valid for three years. Congratulations, Kristina!
News from Washington DOL Denies Request to Extend Fiduciary Rule Comment PeriodAssistant Secretary of the Labor Department’s Employee Benefits Security Administration, Lisa Gomez, denied a request by industry trade groups to extend the comment period on Labor’s fiduciary rule. Gomez said in a letter that “EBSA believes that its current proposal reflects significant input it […]
News from Washington Sen. Rosen Thinks You Should Be Able to Use Your Health Savings Account on Your Aging ParentsNevada Democratic Sen. Jacky Rosen introduced legislation she believes could make it a little easier for caregivers of aging parents. The bill, which she cosponsored with Sen. Bill Cassidy (R-LA) would allow people to use their […]
News from Washington DOL, White House Unveil Latest Fiduciary Proposal to Cover One-Time Rollover AdviceThe Department of Labor unveiled a new proposed rule to revise the term “fiduciary” and require rollover advice be in the best interest of the saver. The rule would change the fiduciary definition by removing the “regular basis” prong of the […]
News from Washington New Prohibited Transaction Exemption Procedures Could Be Coming SoonFinal regulations updating the existing procedures governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of ERISA, the Internal Revenue Code and the Federal Employees’ Retirement System were submitted to the White House Office of Management & Budget […]
News from Washington IRS Postpones Tax-Filing and Tax-Payment Deadline to November 16 for California Storm VictimsOn October 16, the IRS further postponed tax deadlines for most California taxpayers. In the wake of last winter’s natural disasters, the normal spring due dates had previously been postponed to October 16. As a result, eligible individuals will now […]
News from Washington Ways and Means Eyes HSA PackageHouse Ways and Means Committee Republicans look to move to the House floor a package of bills the panel approved earlier this year to boost HSAs. The committee aims to combine the four bills it approved in June and September into one bill so the plans are […]
News from Washington Court Strikes Down HHS Rule Allowing Insurers to Exclude Co-Pay AssistanceA federal judge has struck down a Trump administration rule that allowed health insurers to exclude drug manufacturer co-pay assistance towards a beneficiary’s out-of-pocket costs. The court ruling means that insurers are now precluded by federal regulation from implementing co-pay accumulator programs […]
News from Washington Ways and Means Advances Legislation Expanding HSA BenefitsThe House Ways and Means Committee approved legislation on September 28 that would allow more individuals to save for and afford health care costs by expanding eligibility requirements and contribution limits for Health Savings Accounts. The legislation now goes to the full House of Representatives. […]