What is the PCOR Fee? As part of the Affordable Care Act (ACA), the fee was implemented that applies to group health plans.  The fee is called PCOR (Patient Centered Outcome Research Trust Fund) and the purpose of the fee … Read More

General Overview The House of Representatives and Senate passed legislation, and on Friday December 18th, President Obama signed the legislation that will delay for 2 years the implementation of the excise tax on high cost health plans (which includes the … Read More

General Overview Section 6055 was added to the Internal Revenue Code with the passage of the Affordable Care Act (ACA). This section requires that every provider of minimum essential coverage (MEC) report coverage information to the IRS by filing a … Read More

Patient Centered Outcome Research Trust Fund (PCOR) Fees The IRS released Notice 2015-60 that adjusted the amount of the PCOR fee for plan or policy years that end on or after October 1, 2015 and before October 1, 2016. The … Read More

[Rev. Proc. 2015-30] Contribution Limits The IRS has released the 2016 cost-of-living adjustments affecting HSAs and HDHPs. The 2016 annual HSA contribution limit for individuals with self-only HDHP coverage is $3,350 (no increase from 2015), and the limit for individuals … Read More

Overview The IRS issued Notice 2014-55 that expanded the election change rules for Section 125 Cafeteria Plans.  The Notice addressed two specific situations when a plan participant could be permitted to revoke an election during the plan year in order … Read More

CMS Announcement – Good News for Employers (Until further Notice) The following announcement was published on the Centers for Medicare and Medicaid Services (CMS) website regarding a delay in enforcement of the HIPAA Health Plan Identifiers (HPID) requirement. Effective October … Read More

On 10/30/2014 the Internal Revenue Service released Revenue Procedure 2014-61 that included an inflation adjustment for healthcare Flexible Spending Arrangements (Health FSAs).  Effective 1/1/2015, the maximum contribution to a Health FSA/Medical Reimbursement FSA has been increased to $2,550.  The increase … Read More

Overview The Affordable Care Act (ACA) requires certain health plans to obtain a HPID.  The good news is that the following account-based plans are not required to obtain one: Health FSAs Limited purpose health FSAs HSAs HRAs that cover deductibles … Read More

An Important Message from The Bancorp There is a pending fee increase which may affect some HSA-enrolled employees/members. Effective July 1, 2014, the fee for mailed paper statements will increase to $2.50 per month (current fee is $1.25/month). Employees/members will … Read More