ACA Reporting
ACA Compliance Lessons Learned From Recent Reporting Seasons
Common themes emerge when reflecting on recent ACA reporting seasons that can help employers reduce administrative burdens and improve accuracy.
FSA / HRA / HSA
Question of the Week - FSA Without Medical Plan
Q.- We employ fewer than 50 employees and do not offer a medical or dental plan. Can we offer our employees a health FSA?
Q.- We employ fewer than 50 employees and do not offer a medical or dental plan. Can we offer our employees a health FSA?
A.- You should not offer a health FSA without a medical plan unless the FSA is a limited purpose FSA. An employer must offer a “regular” medical plan if it wants to offer a general health FSA. This is because to be considered an “excepted benefit” and not subject to coverage requirements, the employer must have a medical plan that provides minimum essential coverage to those who are eligible to participate in the FSA.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
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