Guidance for Health FSA & DCAP COVID-19 Relief

The Internal Revenue Service (IRS) has released a notice intended to clarify the application of temporary special rules for health flexible spending accounts (FSAs) and dependent care assistant program (DCAP) accounts under the Consolidated Appropriations Act, 2021 (CAA). Health FSAs and DCAPs are accounts individuals can make pre-tax contributions to, …

President Biden Issues Executive Action to Broaden Healthcare Access

President Joe Biden recently signed two executive actions aiming to strengthen Americans’ access to affordable healthcare and expand enrollment opportunities. It is one of Biden’s first several moves toward delivering on his campaign’s promise to bolster the landmark health reform law that he formerly advocated for as Vice President. The …

PCORI Fee Amount Adjusted for 2021

The Affordable Care Act (ACA) imposes a fee on health insurance issuers and plan sponsors of self-insured health plans to help fund the Patient-Centered Outcomes Research Institute (PCORI). The PCORI fee was originally scheduled to expire for plan or policy years ending on or after October 1, 2019. However, a …

Health FSA Limit Will Remain the Same for 2021

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts, or FSAs, offered under cafeteria plans. For 2020, the health FSA limit on employees’ pre-tax contributions increased by $50 — from $2,700 to $2,750. On October 27, 2020, the Internal Revenue …