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Important Updates to Health Savings Accounts and Health …

WebHealth Savings Accounts (HSAs): For those with self-only coverage under a high deductible health plan, the annual contribution limit to an HSA will be $4,300. If you have family …

Actived: 5 days ago

URL: https://www.basusa.com/blog/important-updates-to-health-savings-accounts-and-health-reimbursement-accounts-for-2025

Ensuring Health Coverage for Full-Time Employees

WebCompanies must offer affordable health coverage providing minimum value to at least 95% of their employees who calculate to be full-time. If this 95% threshold is not met, the …

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2024 Contribution Limits for Health and Welfare Plans

WebBased on the increase, the maximum amount of earnings subject to the Social Security tax will increase to $168,600 in 2024 from $160,200 in 2023. Health FSA Limit. …

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Demystifying Fringe Benefits: IRS Publication 15-B

WebIRS Publication 15-B, the Employer's Tax Guide to Fringe Benefits, is an invaluable resource for HR professionals, offering detailed insights into specific items that can significantly …

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BAS Provides Well-Trusted Health FSA Administration

WebHealth FSA Basics A Health Care Flexible Spending Account (HFSA) allows you to set aside a portion of your salary, before-tax, to reimburse certain amounts you …

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Ensuring ACA Compliance: Guidelines for Opt-Out Incentives and …

WebAffordability and Opt-Out Payments: ACA mandates ALEs to provide affordable coverage meeting specific criteria. Affordability is assessed at 9.5% of an …

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Health Care Reform: Calculating Full-Time Status for New

WebIn the realm of health care reform, employers using the look-back measurement method to determine full-time status may face uncertainties when it comes …

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W-2 Reporting for Health Coverage

WebThe cost of health coverage is not taxable and the reporting is intended to provide employees information about health care costs. Some employers are excepted …

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ACA and Documenting Offers of Coverage

WebContingency Planning: When you document health coverage offers, you can plan for any potential issues or disputes. These records serve as a reliable resource in …

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Summary of Benefits and Coverage

WebAn SBC, or a Summary of Benefits and Coverage, is a standardized document that presents easy-to-understand information about a health insurance plan. The SBC is required …

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FSA & HRA Administration Solution

WebSupport for online FSA & HRA enrollment is included with your account. Connect with us to learn more about healthcare flexible spending account administration! It couldn’t be …

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Three Components of Health Care Reform

WebHealth Care Reform can be divided into three main tenets: The Individual Mandate, Exchanges, and Pay-or-Play. A brief overview of each of these components …

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ACA Health Plan Administration & Compliance

WebIf you would like your broker or consultant to take the lead on your behalf, we’re happy to work with them directly. Your brokers/consultants can contact us at 1.800.945.5513 to …

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Benefits Enrollment

WebFor more information about any Primary Service (orange headers) or Add-On Services, please contact your BAS Account Manager or BAS Sales at 1.800.945.5513 Menu …

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Using Health Flexible Spending Account Plan Forfeitures

WebForfeitures. Under the health plan flexible spending account (FSA) rules, all FSA amounts must be used for reimbursement within the plan year and grace period …

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Small Employer Health Care Reform Tax Credit

WebA small employer may be eligible for a tax credit for providing health care coverage to employees. An employer with fewer than 25 full-time equivalent employees, …

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Reimbursing Employee for Cost of Coverage from Spouse

WebWhen the spouse pays for coverage with after-tax dollars, the employer can reimburse the employee for coverage for himself and/or for his spouse. When the spouse pays for …

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ACA Reporting Requires Social Security Numbers

WebThe Affordable Care Act requires insurers and sponsors of self-funded health plans to report to the IRS information about individuals enrolled in health coverage. An individual is …

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Nondiscrimination Testing for Flexible Spending Account

WebHealth Care FSA. A health care FSA must pass two tests: the eligibility test and the benefits test. Testing is required by section 105(h) of the Internal Revenue Code. …

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End of COVID-19 National Emergency COBRA Extensions

WebExtensions. Posted by BAS - 09 February, 2023. Almost three years after President Trump declared a COVID-19 National Emergency and Public Health …

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