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FSA Mid-Year Elections, Grace Periods, Carryover and More: IRS COVID-19 Guidance

In May 2020, the Internal Revenue Service (IRS) published COVID-19 guidance for employer-sponsored healthcare benefits. Drafted to address unanticipated changes in medical and childcare costs due to the COVID-19 emergency, the two Notices – Notice 2020-29 and 2020-33 – relax mid-year election changes for health Flexible Spending Accounts (FSAs) and Dependent Care Assistance Programs (DCAPs). They also provide more flexibility in grace periods for both types of accounts and increase the maximum annual carryover amount

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COVID-19 Claims Run Out Extension for FSA and HRA Plans

On April 29, 2020, the Internal Revenue Service (IRS), Department of Labor (DOL), and other federal agencies published a final notice providing COVID-19 relief guidance on COBRA extensions. The notice also extended run out periods for health Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) plans. Learn more about the COVID-19 claims run out extension and what it means for third party administrators, employers and participants. COVID-19 Claims Run Out Extension The final notice, now available

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COVID-19 COBRA Extensions and Claims Filing Update

The Internal Revenue Service (IRS), Department of Labor (DOL), and other federal agencies released an update on COBRA extensions and claims filing due to the COVID-19 outbreak. This latest guidance came after Congress passed the CARES Act in late March 2020, along with other initiatives to ease the economic effect on American workers and companies. The final notice, published April 29, 2020, recognized that “participants and beneficiaries covered by group health plans, disability or other employee

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Conversations with the CEO: Customer Support, Client Experience, and Company Identity

John Robbins, Jr., DataPath President and CEO, shares his thoughts on DataPath’s commitment to customer support and the client experience What does customer support mean to DataPath? When I think about customer support, it means going beyond the software solution. Yes, we are a solutions developer. But we are more than that. We could just sell the license to the solution and leave it at that. But since day one, DataPath has been client-focused. In

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FFCRA Expiration, “Path Out of the Pandemic” and Healthcare Benefits FAQs

With the recent expiration of the Families First Coronavirus Response Act (FFCRA), the Biden Administration is implementing a new plan called the “Path Out of the Pandemic.” This includes a number of proposed initiatives to help move the country along a path toward recovery. Some of the action items that will apply to employers and employees are discussed here. COVID-19 Updates For Employers While many Americans are fully vaccinated against COVID-19 (approximately 58% as of

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CARES Act: HDHPs and Telemedicine; OTC Medications Become Eligible Healthcare Expenses

relief

On Friday, March 27, 2020, Congress passed the CARES Act (H.R. 748) and the President signed it into law. The $2 trillion bill was designed to provide economic relief for American citizens and business due to the COVID-19 healthcare emergency that has greatly impacted the U.S. economy. In addition to the stimulus checks and unemployment benefits the bill provided, the legislation also expanded how workers can use their healthcare benefits accounts. CARES Act Expands HDHP

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2020 Tax Deadline and HSA Contribution Deadline Extended to July 15

In response to the ongoing COVID-19 (coronavirus) pandemic, Congress and the Internal Revenue Service (IRS) have taken some key steps to ease specific concerns about taxes and healthcare benefits. Learn more about the 2020 tax deadline extension, HSA contribution extension, and HDHP updates for coronavirus treatments. 2020 Tax Deadline Extended by 3 Months The IRS officially extended the tax filing deadline, moving the date from April 15 to July 15, 2020. Tax payers (including individuals,

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HSA Excess Contributions – What Should You Do?

The federal government recognizes the strain of healthcare costs on Americans. To help ease this burden they created tools like Health Savings Accounts (HSAs), which allow healthcare consumers on high deductible health plans to set aside tax-free money to pay for medical expenses. But, as with any tax-advantaged financial tool, there is a limit on how much account holders can contribute to their HSAs every year. If you go over the annual contribution limit, the

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