Benefits Buzz December 2016

Benefits Buzz December

Did You Know?

In late October, the IRS released Revenue Procedure 2016-55 (Rev. Proc. 16-55). Rev. Proc. 16-55 increased the flexible spending account (FSA) dollar limit on voluntary employee salary reduction contributions to $2,600 for taxable years beginning in 2017.

Employers should ensure that their health FSAs will not allow employees to make pre-tax contributions greater than $2,600 for 2017.  Employers may continue to impose their own health FSA limits, as along as they do not exceed the ACA's maximum limit for the plan year.  For example, an employer may continue to use the 2016 maximum limit for its 2017 plan year.

Regardless of the FSA limit an employer chooses, it should be certain to communicate it to employees as part of the open enrollment process.


2017 Marketplace Plan Premiums Rise 25 Percent

The open enrollment period for obtaining health coverage for 2017 through the Affordable Care Act (ACA) Marketplace begins Nov. 1, 2016, and ends Jan. 31, 2017.  The 2017 Marketplace looks a bit different than it did last year, especially in regards to increased premium costs.  CONTINUE READING


2016 Election and Compliance Issues

Republican candidate Donald Trump has been elected the 45th president of the United States, and Republicans have retained control of the Senate and the House of Representatives. CONTINUE READING


For questions on these topics or to discuss your Health & Employee Benefits plans with one of our Risk Advisors, contact us today.


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