Amid concerns about people being misled, the Internal Revenue Service (IRS) is reminding taxpayers and plan administrators that personal expenses for general health and wellness are not considered medical expenses under the tax code. This means personal expenses are not … Read More
The bar is high; failure to comply has serious, unwanted consequences In 2023, the Internal Revenue Service (IRS) released a memo reminding sponsors of health flexible spending accounts (HCFSAs) and dependent care flexible spending accounts (DCFSAs) of their obligation to … Read More
As we embark on a new year, DBS is focused on a compelling resolution that goes beyond the typical personal goals. In 2024, we are committed to championing a cause that directly impacts the well-being of employees and families…an increase … Read More
Government shutdown averted…tax package possible, but tough There are two weeks left before Congress says sayonara until the New Year, and a whole lot of work to get done in that time (Israel/Ukraine aid, reauthorizations of the Federal Aviation Administration … Read More
HRA Plan Changes Please be sure you have informed DBS of any changes to your Health Insurance/ HRA Plans for the 2024 plan year. This includes changes to your carrier or deductible levels. HSA Year End Contributions Deadline HSA contributions … Read More
Our new HSA platform is coming soon… DBS is excited to announce the upcoming release of our all new HSA software. We listened to client feedback and have completely redesigned and updated the HSA administration platform to make managing accounts … Read More
Yesterday, the Internal Revenue Service (IRS) announced the annual inflation adjustments for more than sixty tax provisions for tax year 2024. Highlights of changes in Revenue Procedure 2023-34 The items of greatest interest to most DBS agents and clients include … Read More
This week, the IRS released Notice 2023-70 that adjusts the amount of the PCORI fee for health plan or policy years that end on or after October 1, 2023 and before October 1, 2024. The new fee is $3.22. The … Read More
As the country continues to emerge from the economic challenges brought on by the pandemic, the impending resumption of federal student loan payments is a development that carries significant implications for businesses and their workforces. For the majority of those … Read More
WI Child Care Pre-Tax Reimbursement Accounts Last week, the Wisconsin State Assembly passed a package of bills that take a multi-pronged, targeted approach to supporting families and child care providers. One of the bills – authored by Rep. Joy Goeben … Read More
