Entries by Anna Mulder

IRS Releases HSA Contribution & Coverage Limits for 2020

IRS has just issued Revenue Procedure 2019-25, which provides the 2020 cost-of-living contribution and coverage adjustments for HSAs, as required under Code Section 223(g).  Many items have increased for 2020.  Health Savings Accounts 2020 2019 Self-only coverage Self-only coverage annual minimum deductible $1,400 $1,350 Self-only coverage maximum out of pocket $6,900 $6,750 Self-only coverage maximum […]

New Jersey Becomes the First State to Mandate Commuter Benefits

New Jersey Governor Phil Murphy signed S.1567 into law March 1, 2019. New Jersey is the first state to require employers to offer pre-tax commuter benefits to employees. New Jersey joins several cities, including Washington DC, Seattle and San Francisco, to make such a mandate. The new law applies to employers with 20 or more […]

BASIC Announces New HIPAA Compliance Service

PORTAGE, Mich., May 7, 2019 /PRNewswire/ — BASIC is proud to announce the launch of a new HIPAA Compliance service, adding to their already exceptional suite of HR and Compliance solutions for employers. BASIC’s HIPAA Compliance service helps employers remain compliant with the burdensome requirements of the HIPAA Privacy & Security Rule by ensuring the […]

DOL Compliance Tools You Don’t Want to Miss

Do you want to become more sophisticated about compliance? Take advantage of the Department of Labor’s resources and assistance. Office of Compliance Initiatives: Last year, the DOL announced its new Office of Compliance initiatives. Among other things, the OCI will enable DOL enforcement agencies to better utilize online resources to assist employers and employees. For […]

HSA Changes Are on the Horizon

On Wednesday, July 25th, the House of Representatives passed two healthcare bills that could have an enormous effect on employee enrollment in high-deductible health plans that feature HSAs. The Restoring Access to Medication and Modernizing Health Savings Accounts Act (H.R. 6199) would allow HDHPs to provide coverage before the deductible is met, increase flexibility for […]