Can you believe we’re almost halfway through the year? 2022 is right around the corner and before you know it Open Enrollment season will be here! To help us get prepared, we are taking time this week to discuss the recent IRS update for Health Savings Accounts and Dependent Care Assistance Programs.

2022 HSA Limits

Last week the IRS issued Revenue Procedure 2021-25, providing the HSA cost-of-living contribution and coverage adjustments for 2022. It also includes the 2022 limit for Excepted Benefit HRAs. We broke it down in layman’s terms for you below, showing the changes from 2021...

In January we hosted a webinar and published a subsequent blog, How the Pandemic Affects FSAs and Dependent Care, and typical for this Pandemic, we now have updates for some of that information. Things are changing rapidly and e are working very hard to ensure you have the most current information possible, at all times.

Dependent Care

During the webinars we presented a few weeks ago a question kept coming up over and over:

"If an employer allows a roll-over of unused DCAP funds from 2020 to 2021 as allowed by the CAA-2021, does this reduce the maximum...

Medcom recently hosted a webinar discussing the changes the Pandemic made to our Flexible Spending Accounts and Dependent Care. Things are increasingly confusing, so we thought we would take a moment to lay out the changes and considerations moving forward. 

A Recap

In 2020, the IRS released Notices 2020-29 and 33. In these notices, the IRS stated they will allow unused amounts from FSAs to carryon over through December 31, 2020, for non-calendar year plans. This means that even if the calendar year plan ended in June 2020, the funds remaining in the participant's FSA were still available through...

We are at that inevitable time of year again where we all set goals for ourselves, our families, our businesses to become better, more healthy, or more profitable. I struggle each year with setting achievable personal goals without allowing the self-doubt to creep into the back of my mind and defeat me before I even start. It goes about the same way for my professional goals as well. The struggle is real and it is everywhere. The bottom line though is that we'd all like to make improvements personally and professionally, no matter the time of year. Many...