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Cypress Solution eNews 
September 15, 2010  -  Cypress Benefit Administrators
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We enjoy bringing you information and reminders to help you stay abreast of new Cypress developments and industry compliance requirements. Please let us know how Cypress Solution eNews can be of further service to you.
topIn This Issue:
staffCypress Adds to Account Executive Staff
Cypress is pleased to announce a new addition to our Account Executive staff.  Tina Keon, with her almost 25 years of industry experience, has joined the Cypress team and is located in our Appleton, Wisconsin, Corporate office.  Learn more about Tina.
OTCIRS Notice for Over-the-Counter Medications
Within the past couple of weeks, the IRS released Notice 2010-59, revising the definition of medical expenses as it relates to over-the-counter (OTC) drugs.  More specifically, it changes the definition of medical expenses for FSAs, HRAs, HSAs and Archer MSAs. Learn about effective dates, definition of "prescriptions," debit card complications and more.
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w2Reporting the Value of Health Benefit Coverage on Employee W-2 Forms: Benefit Not Taxable
As part of The Patient Protection and Affordable Care Act (PPACA), employers must now include the cost of health benefits on each employee's W-2 for calendar year 2011. Many have wondered if such reporting means they will be taxed on the benefit they receive.  Recently, the IRS released a statement clearing up the confusion. Read more...
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Cypress Benefit Administrators