In the News - American Benefits Group

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Bill Seek Repeal of OTC Exclusion and End to FSA "Use or Lose" Clause

Last week, Senator Ben Cardin (D-MD) and Senator Mike Enzi (R-WY) introduced S. 1404, the Medical Flexible Spending Account Improvement Act of 2011, a bill that would allow employees to pay taxes on and withdraw any unused funds in their employer-sponsored FSAs at the end of the year.

HHS Issues Proposed Guidance on State Insurance Exchanges

As you know, every state is mandated to establish its own exchange by Jan. 1, 2014, or have the federal government run a health insurance exchange on its behalf under PPACA.

Bill Introduced to Repeal OTC Restriction

Yesterday, bipartisan legislation was introduced that would repeal a portion of the health care reform law that prohibits people from using their health FSAs and HSAs to purchase OTC medications.

Legislative Alert

Late last week, Senator Orrin Hatch (R-UT), Ranking Member, Senate Finance Committee and Representative Erik Paulsen (R-3rd, MN) introduced the “Family and Retirement Health Investment Act of 2011.”

The Medical FSA Improvement Act of 2011

3/10/2011 - Introduced Medical FSA Improvement Act of 2011 - Amends the Internal Revenue Code to allow amounts in a flexible spending arrangement (FSA) that are not spent for medical care to be distributed to the FSA participant as taxable income after the close of a plan year (currently, such unspent amounts are forfeited). Includes such FSAs in the definition of tax-exempt cafeteria plans ...

IRS Expands Use of Debit Card for OTC Drugs

Congress Passes Extension of Transit Benefit Cap

SIGIS COMPLETES REVIEW OF ELIGIBLE PRODUCTS LIST

Walgreens joins SIGIS

IRS Announces HSA Contribution & Coverage Limits for 2011

COBRA Update - New Model Notices, Fact Sheet and FAQs

COBRA Subsidy Extended to May 31, 2010

President Obama signs H.R. 4851, the "Continuing Extension Act of 2010"

Legislative Update: COBRA premium subsidy extended

H.R. 4851 provides a one-month extension of the COBRA premium subsidy through April 30, 2010

House Approves Stopgap COBRA Subsidy Extension - 3/2/2010

Updated EBSA Application for Expedited Review of COBRA Premiums - 2/17/2010

IRS Delays Transit Ruling Effective Date to January 1, 2011

Today, the IRS issued notice 2009-95 which announces the delay in the effective date of Revenue Ruling 2006-57 which provides guidance on the use of smartcards, debit or credit cards, or other electronic media to provide qualified transportation fringes under sections 132(a)(5) and (f) of the Code.

Go Green with Eco-Flex

Here are a few simple ways you can support our “green” initiatives...

Inventory Information Approval System (IIAS)

Effective January 1, 2008, debit cards will only be accepted at healthcare related merchants, such as doctor and dentist offices, hospitals, vision care providers and pharmacies AND at retail merchants, such as grocery stores, discount stores and wholesale clubs, who have implemented an inventory information approval system (IIAS) as defined by Notice 2006-69, 2006-31 I.R.B. 107.

Automatic Dependent Care Reimbursements

Submit just one claim form each year and receive reimbursements automatically each pay period.

Are employers able to waive or opt out of all health care reform?

IRS Releases 2011 Versions of Publications 502 and 503

IRS Issues 2011 Version of Publication 969 on HSAs, HRAs, Health FSAs and MSAs