April 27, 2012 The IRS released the 2013 inflation adjustments for HSAs. 2013 Annual Contribution Limit: Single coverage: $3,250 (up from $3,100 in 2012) Family coverage: $6,450 (up from $6,250 in 2012) 2013 Minimum Deductible for HDHP: Single coverage: $1,250 (up from $1,200 in 2012) Family coverage: $2,500 (up from $2,400 in 2012) 2013 Maximum [...]
About rjoyner
Ric Joyner, CEBS, GBA, CFCI Customer Experience Officer Ric is a founder of eflexgroup.com a national web based TPA for Cafeteria, HRA, HSA, Transit, VEBA and COBRA plans. eflexgroup is a leader in self-service employee benefit systems. eflexgroup was the first TPA in the industry to go “online” in 1999 allowing employees to self-serve 24 hours per day. He has lead the industry with eflex by placing provable customer service statistics, live, on eflexgroup.com Ric is celebrating his 32nd year employee benefits. He helped create TPAs such as TASC and Employee Benefits Corporation in Madison WI. He was a licensed insurance agent for 29 years. The designations Mr. Joyner holds are; Certified Employee Benefits Specialist, Group Benefit Associate, Certified Flexible Compensation Instructor, board approved by ASPA to teach Cafeteria Plan regulations. Ric also has a bachelors of science in Information Technology and MBA (emphasis is project management) and graduated summa cum laude from Capella University with a 4.0. Ric helped found the National Association of Professional Benefit Administrators (NAPBA.org). NAPBA is dedicated to training administrators in best practices and grass roots lobbying. Ric has served in the past as the Wisconsin Association of Health Underwriters State President in 2003. Ric is a frequent speaker and article writer for prestigious associations such as NAHU.org, NAPBA.org, Wisconsin SHRM, Austin SHRM, PACE.org, International Foundation of Employee Benefits, Tampa Bay AHU, WI AHU, Florida AHU, Florida NAIFA and participates on the List Serves (compliance programs for Consumer Driven Products of NAHU and International Foundation of Employee Benefits)HSA 2013 Limits Announced
Rev. Proc. 2012-26 SECTION 1. PURPOSE This revenue procedure provides the 2013 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. SECTION 2. 2013 INFLATION ADJUSTED ITEMS Annual contribution limitation. For calendar year 2013, the annual limitation on deductions under § 223(b)(2)(A) for an individual with [...]
IRS Releases Minumum Coverage Level Information for Large and Small Groups But Asks for Comments
Notice 2012-31 describes and requests comments on several possible approaches to determining whether health coverage under an eligible employer-sponsored plan provides minimum value. Beginning in 2014, eligible individuals who purchase coverage under a qualified health plan through an Affordable Insurance Exchange may receive a premium tax credit under § 36B only if they are not [...]
House panel to hold hearing on FSA reimbursements for over-the-counter drugs
April 19, 2012 – 10:53am FEATURED SOLUTION ARC: What benefits managers need to know about health care reform WASHINGTON—A House panel next week will hold a hearing on an unpopular provision in the health care reform law that restricts the use of flexible spending accounts to reimburse employees for over-the-counter medications. Under that [...]
Health Reform Questions-Taxation of MLR Rebate Cash Payments
By Larry Grudzien, JD April 12, 2012 My employer has just indicated that it will receive a Medical Loss Ratio (MLR) rebate from the insurer for group health coverage provided in 2011. It will distribute the rebate to employees in the form of a cash payment for any amounts contributed by them. Will these cash payments [...]
What to look for in a CDH TPA
Plan Documents are Not a Courtesy, They are a requirement How to Pick a Good TPA Written by: Ric Joyner As an agent or broker, have you scrutinized your client’s pre-tax benefit plan documents? Often brokers mention their current CDH Third Party Administrator (TPA) sends their client the required plan documents, and the documents [...]
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