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News Updates

On March 28, 2014, the Internal Revenue Service (IRS) released an Office of Chief Counsel Memorandum to provide information on how health flexible spending account (FSA) carryovers affect eligibility for health savings accounts (HSAs).
Key Points

A health FSA may allow for carryovers of up to $500 in unused funds.
Carryovers under general purpose …

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The US Treasury released the final regulations implementing the employer shared responsibility penalty provisions of the 2010 health care reform law on February 10, 2014.  In many ways, the final regulations resemble the proposed regulations issued over a year ago but there are several – mostly welcome – changes and transition provisions for employers.
Phased-in …

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The Federal Government has just released two very important announcements regarding hardship exemptions for the new Patient Protection and Affordable Care Act (PPACA) and regarding proposed regulations with amendments to the excepted benefit requirements, as defined by HIPAA.
On December 19, 2013, the White House announced that people whose individual health care policy had been …

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Today’s Wall Street Journal has an article about rising health costs for employees who receive health benefits through their employers.  Employers anticipate that more employees will be opting into employer funded health plans in 2014. This means that employers who subsidize health plans for their employees will incur higher overall health benefit costs and many …

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The Affordable Care Act can be very confusing, especially as it pertains to the recent Transition Relief legislation. The information below should help to clarify some of the nuances of the ACA Transition Relief for mid-year election changes with cafeteria plans.
Quick Facts:

Participant elections under a cafeteria must be made before the first …

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What Others Say About Us

We are a company that likes to think outside of the box and we ask tough questions. We tell them what we want, and Sullivan will come back and tell us how we can do it. They have been very good with that.

Brian AlbertCFOTampa Tank Florida Structural Steel