Health FSA and DCAP Carryover Rules Approved for 2021

On Monday, December 21, Congress passed a new $900 billion COVID stimulus bill (known as the Consolidated Appropriations Act, 2021). The legislation is aimed at helping Americans cope with challenges from the pandemic. Along with stimulus payments and other financial provisions, the bill also includes modified carryover and dependent rules for Dependent Care Assistance Plan … More >>

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Brochure: Flexible Spending Account (FSA) Solutions

Summit was designed with TPAs in mind, empowering them to provide superior FSA administration for health, limited purpose, and child care FSAs. Our cloud-based FSA solution features streamlined plan setup with default settings and wizards; TPAs can also create plan templates to be used with other similar plans. With the powerful data exchange, administrators can … More >>

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2021 FSA Contribution Limits to Stay at $2,750

The Internal Revenue Service (IRS) published Rev. Proc. 2020-45, announcing annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, and Transportation benefit (Transit/Commuter/Parking) contribution limits. FSA, LPFSA, and related limits for 2021 will remain the same as they are for 2020. Learn more about 2021 FSA contribution limits and other updates below. 2021 … More >>

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FSA and furlough

FSA and Furlough – What Happens With Your Account

A Flexible Spending Account (FSA) is an excellent financial tool that helps millions of workers cover out-of-pocket healthcare expenses. Sponsored through an employer, an FSA is usually funded through a payroll deduction each pay period over the course of the plan year. When an employee’s job status changes due to a layoff, change in employer, … More >>

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Whitepaper: Addressing Education Gaps is Key to TPA Growth

Today’s healthcare consumers have more choice than ever when it comes to healthcare benefits. However, research suggests they are not utilizing those benefits as effectively as they could, in large part due to lack of knowledge and understanding about them. For third party administrators, understanding where the gaps exist and providing solutions to address them … More >>

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COVID-19 COBRA Extensions and Claims Filing Update

The IRS, Department of Labor, and other federal agencies released an update on COBRA extensions and claims filing due to the COVID-19 outbreak. This latest guidance comes after Congress passed the CARES Act in late March and other initiatives to ease the economic pain on American workers and companies. The final notice, published April 29, … More >>

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Treating Mental Health with a CDH Account

Mental health currently represents one of the biggest healthcare challenges in the U.S. It is estimated that: One out of every five adults in the U.S. experiences a mental illness at some point in their lives Nearly 10 million adults live with a serious mental illness One-half of all chronic mental illnesses begin by the … More >>

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Cadillac Tax repealed by Congress; approved by President Trump

Cadillac Tax Repealed, PCORI Extended Under New Spending Bill

In a new spending bill approved last week, the controversial Cadillac Tax has been permanently repealed. On December 17, 2019, the House of Representatives passed an appropriations bill that approved federal funding for 2020, repealed the Cadillac Tax, and extended PCORI, among other things. The Senate approved two days later, and then on Friday, December … More >>

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TPA Growth is Linked to Addressing Gaps in Benefits Education – New DataPath Whitepaper

LITTLE ROCK, ARKANSAS (December 12, 2019) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits administration, announced today the release of a whitepaper titled, “Addressing Education Gaps is Key to TPA Growth.” In the whitepaper, DataPath summarizes findings from a survey they conducted in August 2019 that focuses on employees and their … More >>

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DCAP or Dependent Care FSA

Dependent Care Assistance Plan (DCAP): Is it Right For You?

As working parents know: childcare is expensive! Whether the kids are in daycare, before or after school care, day camps, or other care, it can put a big dent in your wallet. Costs can range from $199 – $596 per week, depending on who cares for your child. While most people think about getting healthcare … More >>

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2020 FSA Contribution Limits Raised to $2,750

The IRS announced on November 6, 2019, contribution limits for Flexible Spending Accounts (FSAs) and other tax-advantaged benefits will go up next year. Learn more about 2020 FSA contribution limits below. 2020 FSA Contribution Limits According to the IRS, the 2020 FSA contribution limits have been increased by $50. Next year, those who participate in … More >>

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Commuter Benefits

Commuter Benefits – Tax Savings, Expenses, Advantages, and More

For most people, the transportation costs associated with getting to and from work aren’t in the same ballpark as healthcare costs. Yet, fuel costs, vehicle maintenance, parking fees, transit fares, and other associated expenditures can still add up to a sizeable expense for many. To ease this financial burden for America’s workers, the IRS created … More >>

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8 Questions To Ask Your Employees When Building Benefits Plans

An employee benefits package is a vital tool for companies to attract and retain talented employees. It can also improve workforce health and engagement. But with four generations of people in today’s labor force, putting together a well-crafted plan that meets the needs of all employees can be a challenge. Baby Boomers nearing retirement have … More >>

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DataPath Article on Transparency in Healthcare Featured on FierceHealthcare

Industry Voices – Trump’s ‘shoppable’ prices order could bring significant overhaul Oct 11, 2019 By Thomas O’Banion Originally Posted on FierceHealthcare Most people wouldn’t think of buying an expensive item, such as a car or house, without performing extensive research and price comparisons. Yet, when it comes to healthcare services, comparison shopping has historically been … More >>

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