On The Edge of Compliance - June 2019
HSA / HDHP Limits are Increasing in 2020
The IRS has released the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) that will take effect as of January 1, 2020. The limits include the max HSA contribution limit, the minimum deductible for HDHPs and the max OOP expense limit for HDHPs.
See the 2020 limits here!
Final Notice of Benefit and Payment Parameters
The Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2020. This rule describes benefit and payment parameters under the ACA that apply for the 2020 benefit year. Standards included in the rule relate to:
- Annual limitations on cost sharing;
- The individual mandate’s affordability exemption;
- Direct enrollment in the Exchanges; and
- Special enrollment periods in the Exchanges
PCORI Fees are Due July 31, 2019
PCORI Fees are not owed by all employers. Please read below for details.
An employer with an HRA or a self-insured health plan reports and pays PCORI fees annually using IRS Form 720. These fees are due by July 31 of the calendar year following the last day of the plan year. This means that, for employers who sponsored an HRA or a self-insured plan with a plan year ending in 2018, the PCORI fees are due by July 31, 2019.
Read more about PCORI fees here.
Filed Under: Benefits Briefs