The article reports on the move of the Internal Revenue Service (IRS) to change the regulations on the use of health reimbursement arrangement (HRA) or health flexible spending arrangement (FSA) debit cards in paying for over-the-counter (OTC) medicines and drugs in the U.S. The IRS ...
The IRS issued guidance on the FFCRA Paid Leave Tax Credits under theFamilies First Coronavirus Response Act (“FFCRA”)on March 31, 2020. The FFCRA Paid Leave Tax Credits are fully refundable tax credits giving covered employersdollar-for-dollarreimbursements for the costs of providing covered emp...
IRS guidance on the use of HRAs in the consumer driven healthcare plan context; Summary of the Revenue Ruling 2003-43 by the IRS; Rules on FSAs and/or HRAs use of debit cards.EBSCO_bspEmployee Benefit Plan Review
IRS Notice 2015-87 (Part 1) – IRS Issues New HRA Integration RulesRobert M Projansky
Rules that generally apply for employer sponsored health plans, 401(k) contributions and other benefits generally apply. The FFCRA does not provide any provision that explicitly prohibits such deductions. Accordingly, the applicable provisions of the relevant plan will apply. ...
One of the rules considers whether an individual may make contributions to an HSA if he or she is also covered by a health FSA or HRA. It uses five situations to illustrate the rules.EBSCO_bspControllers Tax Letter
Reports on the guidance issued by the Internal Revenue Service that authorizes the favorable tax treatment of employer-sponsored health reimbursement arrangements (HRA) in the United States. Definition of HRA; Rules regarding the interaction between HRA and cafeteria plans; Flexible spending accounts....
Rules for the deductible contributions of an eligible individual to an HSA; Transactions entitled to an eligible individual for HSA purposes; Situations that demonstrate the HSA eligibility of an individual while simultaneously participating in a health FSA and/or an HRA.Rosenbaum...