Entries for November 2013

On October 31, IRS and Treasury issued new guidance (Notice 2013-71) that modifies the “use it or lose it” rule that applies to health flexible spending arrangements (“FSAs”). Under this guidance, employers can now allow employees to carry over up to $500 of unused FSA balances to the next plan year.  Employers are permitted to adopt the carryover provision as early as the 2013 plan year.   We believe these are very welcome changes ... Read more
With the rollout of mandated changes to health plans beginning in January, many consumers found themselves receiving letters explaining that their coverage would be canceled and need to be replaced with a qualified health plan.  For employer sponsored plans, this change would be automatic and would not happen until their plan renews in 2014.  However for some with individual insurance, they are being forced to shop for new coverage or be faced with no insurance... Read more