IRS Releases Annual Inflation Adjustments for 2015
The Internal Revenue Service announced the annual inflation adjustments for cafeteria plans on October 30, 2014. The Health Care FSA maximum has increased by $50. Learn more here.
IRS releases Notice 2014-55 regarding eligible changes in enrollment
This notice expands the application of the permitted change rules for health coverage under a § 125 cafeteria plan in situations
where a participant may wish to revoke their election in order to purchase a Qualified Health Plan through a competitive marketplace (or “Exchange”) under the Patient Protection and Affordable Care Act. Click here for more info.
IRS Memorandum Regarding Carryover between Health FSAs
In February 2014, the IRS released Memorandum 201413005,
clarifying funds carryover options between general purpose health FSAs and limited purpose heath FSAs when the employee has enrolled in a Health Savings Account (HSA).