The IRS released the inflation adjustments for health savings accounts (HSAs) and their accompanying high deductible health plans (HDHPs) effective for calendar year 2021. Most limits increased from 2020 amounts. Annual Contribution Limits For calendar year 2021, the limitation on deductions for an individual with self-only coverageunder a high deductible health plan is $3,600. For calendar year 2021, the limitation on deductionsfor an individual with family coverage under a high deductible health plan is $7,200.High Deductible Health Plans For calendar year 2021, a “high deductible health plan” is defined as a health plan with an annualdeductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage(unchanged… Read More
Proper Use of Premium Credits In light of the current pandemic, some carriers are offering premium credits attributable to a portion of the premiums paid in months where COVID-19 limited the benefit available to participants. While this is good news, the availability of such premium credits creates fiduciary issues with respect to plan assets under ERISA. This summary is intended to highlight possible issues and mitigate potential ERISA fiduciary exposure. Click the link below to download this important notice Proper Use of Premium Credits – 051820R
Facebook Twitter Youtube Instagram Wordpress
In an age when more and more positions require duties to be carried out almost exclusively on
computers, and where the internet can instantly connect anyone anywhere, many employers, including ,
are offering the option of telecommuting. Telecommuting allows employees to work from home or
another alternate location and communicate with their employers electronically.