Posted May 25, 2010 by admin
On May 24, 2010, the IRS advised (with Revenue Procedure 2010-22) that for the 2011 tax year, there will not be any changes to Health Savings Accounts as a result of any cost-of-living adjustments. In short, your High Deductible Health Plan (HDHP) & HSA must still have:
- Minimum Deductible: $1,200/individual; $2,400/family;
- Annual OOP Max (Out Of Pocket Maximum): $5,950/individual; $11,200/family; and
- HSA contribution limits: $3,050/individual; $6,150/family.
Eligible employees, age 55 and older, may continue to make a $1,000 catch-up contribution each year.
For a chart comparing the HSA limits, and highlighting different features for HSAs, MSAs, HRAs and FSAs, click here.
Posted May 20, 2010 by admin
Crawford Advisors’ Webinars on Health Care Reform have referenced a few timelines and charts that we have created to help Employers and Employees learn about health care reform and to determine which changes will affect you and when.
Posted May 10, 2010 by admin
USDOL Update – Young Adults and the Affordable Care Act: Protecting Young Adults and Eliminating Burdens on Families and Businesses
The Affordable Care Act allows young adults to stay on their parents’ health care plan until age 26. Before the President signed this landmark Act into law, many health plans and issuers could and did in fact remove young adults from their parents’ policies because of their age, leaving many college graduates and others with no insurance. This helps to explain problems like: (a) young adults have the highest rate of “uninsured” of any age group, (b) young adults have the lowest rate of access to employer-based insurance, and (c) young adults’ health are finances are at risk.