Navigation Links
Zane Benefits Publishes New Information on FSA New Rules
Date:11/9/2013

Park City, Utah (PRWEB) November 09, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on FSA new rules.

According to Zane Benefits’ website, on October 31, 2013 the US Treasury and IRS announced a modification to health Flexible Spending Accounts (FSAs). Specifically, employers can now allow up to $500 in unused health FSA balances to rollover to the next year.

FSAs are sponsored by employers, and are (usually) 100% employee funded. FSAs are one way for employees to use pre-tax dollars to pay for medical expenses, such as doctor visit copays, vision expenses, and prescription drug costs.

Since the creation of FSAs in the 1970's, FSAs have been “use it or lose it” - meaning if an employee did not use the funds in the FSA by the end of the plan year they forfeited those funds to the employer. Under the change, employers now have a choice of allowing employees to carryover up to $500. In 2005, the Treasury allowed a 2.5 month grace period for spending down FSAs, as a way of softening the “use it or lose it” rule. Employers now will be able to offer either the grace period or the $500 rollover provision, though not both.

According to the Treasury, the rule change could reduce the incentive by employees for unnecessary spending at year-end to avoid losing the money set aside. Because of the “use it or lose it” rule many employees are reluctant to put money into the plans for fear of losing whatever they don't use. However, many employees also see FSAs as "old school". For example, when given the option, it's smarter to put funds into a Health Savings Accounts (HSAs) rather than an FSA because the funds are more flexible and allow full rollover with an HSA.

Click here to read the full article.

--

About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHealth") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2013/11/prweb11308405.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Zane Benefits Publishes New Information on Tips for Individual Health Insurance
2. Potential for added medical benefits uncovered for widely used breast cancer drug
3. Zane Benefits Publishes New Information on Preparing for Health Reform
4. Zane Benefits Publishes New Information on the Defined Contribution Tipping Point
5. Zane Benefits Publishes New Information on the Questions When Picking Individual Health Insurance
6. Bureau of Labor Statistics Webinar Will Detail Disparities Among Employment-based Health Benefits in Small and Large Establishments
7. Weighing in: 3 years post-op bariatric surgery patients see big benefits, Pitt study says
8. Zane Benefits Publishes New Information on the Health Insurance Consumers
9. Zane Benefits Publishes New Information on How Businesses are Using Health Insurance Allowances
10. Zane Benefits Publishes New Information on the ACA Penalty vs. Premium Decision
11. Kessler researchers find aerobic exercise benefits memory in persons with multiple sclerosis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... ... March 29, 2017 , ... VisualSP has helped over 1.5 million ... only option for on-premises installation of its Help System for SharePoint was at the ... system into the entire tenant. , The company recently released a modified version ...
(Date:3/28/2017)... ... ... For many women, getting birth control isn’t as easy as it should be. In fact, ... to a health care facility or a pharmacy within 60 minutes of where they live. ... for many who are faced with health or personal issues that leave them homebound. To ...
(Date:3/28/2017)... Rochester, MN (PRWEB) , ... March 28, 2017 ... ... Elastography (MRE), is pleased to be invited to the Siemens Healthineers annual ... imaging professionals. The event will take place from March 27 - 31, ...
(Date:3/28/2017)... ... March 29, 2017 , ... Dr. Isabella Wentz, PharmD, FASCP, one of ... series titled The Thyroid Secret. Dr. Wentz talked about journey and research recently on ... that medication IS NOT the only solution to deal with thyroid disease. , ...
(Date:3/28/2017)... San Mateo, CA (PRWEB) , ... ... ... Radiosurgery Society (RSS), a non-profit medical society dedicated to advancing the science ... manuscript leveraging data from its RSSearch Patient Registry, a multi-institutional, observational registry ...
Breaking Medicine News(10 mins):
(Date:3/29/2017)... Research and Markets has announced the addition ... report to their offering. ... The ablation device global market is expected to ... 2023. Ablation is the minimally invasive therapeutic tissue ... or diseased tissue removal, to the removal of abnormally conducting cardiac ...
(Date:3/29/2017)... , March 29, 2017   Dynatronics ... today the appointment of Cynthia L. McHenry ... will be responsible for leading Dynatronics manufacturing, distribution, ... will report to Dynatronics, CEO Kelvyn H. ... concludes an extensive search process conducted by the ...
(Date:3/29/2017)... 29, 2017 FinancialBuzz.com News Commentary  ... Data published in a research report by Grand ... a value of USD 55.8 billion by 2025. The projection takes into ... and a more open approach towards cannabis products around the ... Florida , North Dakota , Ohio ...
Breaking Medicine Technology: