Health & Welfare

IRS Releases 2020 Limits for Welfare Benefit Plans: Health FSA and HSA Limits Increase

The IRS has released the 2020 inflation-adjusted limits for certain employee welfare benefit plans and the dollar amounts used for certain discrimination tests.

IRS Expands List of Preventive Care Benefits

IRS has issued Notice 2019-45 which expands the list of "preventive care benefits" permitted to be provided by a high deductible health plan ("HDHP") when determining if an individual is eligible to make tax-exempt contributions to a health savings account ("HSA"). In general, an individual is eligible to contribute (or have his or her employer contribute) to an HSA if he or she participates in ...

IRS and HHS Release Certain Limits for Welfare Benefit Plans in 2020

The IRS and HHS have released some of the 2020 inflation-adjusted limits for certain employee welfare benefit plans and the dollar amounts used for certain discrimination tests. Health Savings Accounts ("HSAs"). The IRS released the inflation-adjusted contribution limits and related amounts for HSAs and HSA-compatible high deductible health plans ("HDHPs") for 2020. The 2020 limit on ...