2014 IRS Limits

HSA: Annual contribution maximums increase to $3,300/$6,550 (was $3,250/$6,450) Out-of-pocket spending limits increase to¬†$6,350/$12,700 (was $6,250/$12,500) HDHP minimum deductible amounts remain $1,250/$2,500 Transit: Monthly transit pass limits are reduced to $130 (was $245) Qualified bicycle remains at $20 Parking limit increases to $250 (was $245) Non-discrimination testing: Key employees increase to $170,000 (was $165,000) Highly… Continue reading 2014 IRS Limits

New York Says No to Renewing Current Individual and Small Group Plans

New York has chosen NOT to allow President Obama’s proposed administrative change to the Affordable Care Act (ACA). The change would have allowed individuals and small employers (less than 50 employees), whose coverage is being canceled at their 2014 renewal, to renew their existing plan(s) for an additional year. Governor Cuomo noted that he sees… Continue reading New York Says No to Renewing Current Individual and Small Group Plans