Benefits News
Deadline For Submitting Gag Clause Attestation Is Approaching
Group health plans and health insurance issuers are required to annually attest they are complying with the federal prohibition on gag clauses. The next gag clause attestation is due by Dec. 31, 2024, covering the period since the last attestation.
IRS Expands List of Preventive Care Benefits for HDHPs
On Oct. 17, 2024, the IRS issued Notice 2024-75 (the Notice) to expand the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) without a deductible (or with a deductible below the minimum…
Health FSA Limit Increases for 2025
On Oct. 22, 2024, the IRS announced the inflation-adjusted limit for 2025 on employee salary reduction contributions to health flexible spending accounts (FSAs). For plan years beginning in 2025, the adjusted dollar limit on employees’ pre-tax contributions to health FSAs…
HSA/HDHP Limits Will Increase for 2025
On May 9, 2024, the IRS released Revenue Procedure 2024-25 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2025. The IRS is required to publish these limits by June 1 of…
ERISA Lawsuit Alleges Mismanagement of Prescription Drug Benefits
A proposed class action lawsuit filed against Johnson & Johnson (J&J) alleges that the company breached its fiduciary duties under ERISA by mismanaging its prescription drug benefits plan. The complaint asserts that J&J violated ERISA’s fiduciary duty of prudence in…
Health FSA Limit Increases for 2024
On Nov. 9, 2023, the IRS released Revenue Procedure 2023-34 (Rev. Proc. 23-34), which includes the inflation-adjusted limit for 2024 on employee salary reduction contributions to health flexible spending accounts (FSAs). For plan years beginning in 2024, the adjusted dollar…