Ever wonder how the most productive people stay motivated? New research on the brain can help you minimize distractions, stay focused, and achieve the most important tasks. According to a recent article by Ravi Shankar Rajan published in Medium Digest, dopamine is the neurological source of motivation. It is well known that dopamine contributes to […]
Question: How do the HSA catch-up contribution rules work, and particularly how do they apply for married individuals? Short Answer: If both spouses are HSA eligible and at least age 55, each spouse may make a $1,000 catch-up contribution to their own HSA. Catch-Up Contributions: General Rule Individuals who are HSA eligible and age 55+ […]
Welcome to Compliance Friday Answers to the Service Team (FAST)! Each Friday we publish our response to a question that the ABD Compliance Team received from a client or member of the EB Service Team. These represent the most frequently asked (or interesting) questions we see. We post all of our FAST responses on the […]
Our Occupational Health and Safety team rounded up the year’s top stories in workers’ compensation, OSHA updates, and health and wellness. Check out the downloadable 2019 Year-End Review in which we discuss the following topics: Workers’ Compensation Trends and Updates – We dig into reports from the Bureau of Labor Statistics and the CA Dept. […]
Question: Which lactation expenses are eligible medical expenses for reimbursement under a FSA/HRA/HSA? Short Answer: Breast pumps, lactation supplies, and lactation consultant costs are eligible medical expenses that can be reimbursed through a FSA/HRA/HSA. General Rule: Expenses Must Qualify as §213(d) Medical Expenses A health FSA and HRA can reimburse only IRC §213(d) medical expenses. […]
Last week, I hosted ABD’s very first Financial Wellness webinar. As a member of ABD’s Financial Wellness Team, I spend my time working with companies to create and deliver meaningful financial wellness programs. It was a valuable experience sharing my insights regarding successful financial wellness initiatives with a wide array of employers. We covered a […]
Question: When is an HSA established? Short Answer: The general rule is that an HSA is established when it is first funded, and individuals cannot take a tax-free distribution for medical expenses incurred prior to the HSA establishment date. General HSA Establishment Rule: Ability to Incur Expenses That are Eligible for Tax-Free Medical Distributions […]
In line with the now well-established annual holiday tradition, yesterday the IRS issued Notice 2019-63 extending by 30 days the 2020 deadline to provide the 2019 Forms 1095-B and 1095-C to individuals. The Notice mirrors the same 30-day extensions for the past three years of ACA reporting. The 2020 ACA reporting deadlines for the 2019 […]
Question: What happens to an HSA upon the HSA holder’s death? Short Answer: The HSA will preserve its tax-advantaged HSA status if the beneficiary is a spouse, otherwise the account will lose its tax-advantaged HSA status. General Rule: HSA Designed Beneficiary HSAs permit the HSA holder to designate a beneficiary to receive the account’s funds […]
As a former Reps & Warranties underwriter and M&A lawyer, I vividly recall (and still take part in) the rush of last-minute deal flow. Early mornings, late nights, weekends, holidays – the M&A market does not stop. From a Reps and Warranties underwriting perspective, last-minute deal success is paramount. Because Reps and Warranties underwriters are […]
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