Most employers offer healthcare options to their employees that include account-based plans—Health FSAs, HRAs or HSAs. Health FSAs and HRAs are employer-provided group health plans that allow for the payment or reimbursement of expenses for medical care on a tax-favored basis. HSAs, on the other hand, are tax-favored trusts or custodial accounts owned by the […]
For most plan sponsors, the Employee Retirement Income Security Act (ERISA) is one of the most significant laws governing their employee health and welfare benefit plan. ERISA imposes various requirements […]
For plans subject to the Employee Retirement Income Security Act (ERISA), the law establishes certain standards that must be followed by those who manage the employee benefit plan and its […]
When an employee requests to make a mid-year election change to their benefit elections, employers must consider multiple factors, such as whether the election change is permitted under the Section […]
