Blog Archive for November 2013

November 21, 2013 by Steve Patterson | Benefits, Flexible Spending Account, FSA, Section 125
To remain compliant under new health care regulations, health FSA plans renewing January 1, 2014 or after must meet the requirements of an excepted benefit.* The term "excepted benefit" refers to benefits that have been excepted from the portability rules under HIPAA.
November 20, 2013 by Savers Admin | HR, Human Resources, Job Descriptions

In our previous HR post, we discussed the importance of job descriptions (Job Descriptions – Why Have Them?).  Now we’d like to give you some pointers for

November 20, 2013 by Julie Frye | NC-4, Payroll, Taxes

The North Carolina General Assembly recently enacted House Bill 998 which becomes effective for taxable years beginning on or after January 1, 2014. Under this new law, taxpayers may no longer claim a personal exemption for themselves, their spouse, children, or any other qualifying dependents. Additionally, many deductions and tax credits that impact North Carolina withholding tax are no longer available for tax years beginning on or after January 1, 2014.

November 7, 2013 by Wanda Bishop | Benefits, COBRA

January 1st is the busiest time of year for Benefit Renewals and changes.  Just as the U.S.

November 5, 2013 by Julie Frye | Flexible Spending Account, FSA
The IRS has modified the use-it-or-lose-it rule for flexible spending accounts that has long frustrated many employees who would like to participate in their employer’s plan. Up until November 2013 there were two options employers could choose from when setting up their flexible spending account plan for employees:
November 1, 2013 by Wanda Bishop | Flexible Spending Account, FSA
The U.S Treasury Department announced yesterday that it is making a change to the IRS Use-it-or-Lose-it Rule for FSA accounts. (This is the rule that says participants forfeit any unspent funds after a plan year ends.) This change will allow an employer to offer either a $500 maximum carry-over of unspent FSA funds or the optional 75 day Grace Period, but not both.