The Consolidated Appropriations Act of 2021 contains the “No Surprises Act”. The following items of The No Surprises Act apply to individual, small group, and large group fully insured and self-funded plans, including both grandfathered and non-grandfathered plans, and coverage offered through an Exchange generally, for plans beginning on or after 01/01/2022. Balanced Billing – The law will limit balance … Read More
2022 Health Plan Limits
Type of Plan Limit 2022 2021 HSA Contribution Limits Self-Only $3,650 $3,600 Family $7,300 $7,200 HSA Catch-Up Contribution Age 55 or older $1,000 $1,000 HDHP Minimum Deductibles Self-Only $1,400 $1,400 Family $2,800 $2,800 HDHP Maximum Out-of-Pocket Expense Limits Self-Only $7,050 $7,000 Family $14,100 $14,000 ACA Maximum Out-Of-Pocket Expense Limits Self-Only $8,700 $8,550 Family $17,400 $17,100 Expected Benefit HRA —– $1,800 … Read More
Funding A Buy-Sell Agreement With Life Insurance
from EideBailly (https://www.eidebaillyfinancialservices.com/insights/funding-a-buy-sell-agreement-with-life-insurance) As a partner or co-owner (private shareholder) of a business, you’ve spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth sale of your business interest and are looking into funding methods. One of the first methods you should consider is … Read More
Here’s Everything You Need To Know About CalSavers
from guideline (https://www.guideline.com/blog/here-is-everything-you-need-to-know-about-calsavers/) With one in five Americans having saved nothing for retirement, it’s more important than ever for businesses to help and encourage their employees to save for the future. Retirement plans, such as 401(k)s and IRAs, may offer significant tax advantages for savers. Employees are 15 times more likely to save for retirement when their company offers a retirement plan. Still, many … Read More
FSA Rollover Extensions and More Optional Relief
courtesy of: BASIC FSA rollover is a hot topic for flexible spending account (FSA) participants. After the pandemic caused many FSA eligible services to become unavailable for an extended period, many are wondering, “What will happen to my unused FSA funds after this past unfortunate year?” Thankfully, there is now an answer to that question. Recent legislation, the Consolidated Appropriations … Read More