JANUARY / FEBRUARY 2015        
INDUSTRY NEWS                         
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New 2015 Contribution Limits

 New Year, New Rules
Ensure you're "in the know" for your new year's business by reviewing the following list of 2015 contribution limits:

Flexible Spending Accounts (FSAs)
  • Annual dollar limit for contributions increases to $2,550
  • Annual dollar limit for dependent care unchanged at $5,000

Health Savings Accounts (HSAs)
  • 2015 contribution limit $3,350 single / $6,650 family
  • Catch-up contribution limit unchanged at $1,000

High Deductible Health Plans (HDHPs)
  • Maximum deductible limits (most plans) $2,050 individual / $4,100 family
  • IRS annual dollar limits for maximum out-of-pocket $6,450 single / $12,900 family
  • Note: HDHP plans must comply with IRS limits even though ACA out-of-pocket limits are higher at $6,600 single / $13,200 family

PPACA Taxes and Fees
  • Transitional Reinsurance fee decreases to $44 / enrollee
  • Patient-Centered Outcomes Research Institute fee increases to $2.08 / covered life

Retirement Plans
  • Elective deferral limits to most defined contribution retirement plans increases to $18,000
  • The catch-up contribution limit for age 50+ increases to $6,000
  • Annual dollar limit for a defined benefit plan unchanged at $210,000
  • Annual dollar limit for a defined contribution plan increases to $53,000

Miscellaneous
  • Definition of "highly compensated employee" for compensation limits increases to $120,000

For additional details on 2015 contribution limits and changes, click here.
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ABS Office Locations:

 

    Birmingham and

Sterling Heights, Michigan
ABS 25 Year Service Award:  Charlesetta (Charlie) Jones
Pictured left to right:
ABS Vice President of Operations Sylvia Bruno, CSR Representative Charlesetta Jones, 
ABS Vice President Client Services Joanne Sciuto.

In December, ABS recognized an employee who has provided long-term service excellence: Charlesetta (Charlie) Jones received the ABS 25 Year Service Award for her continuing valuable contribution to various departments within the organization since 1989.

Prior to joining ABS, Charlie worked as a certified dental assistant, and she offered an excellent fit for her initial position as a dental claims adjuster.  Her role expanded over the years to include medical claims adjustment, as well as customer service to ABS self-funded groups; Charlie is currently a member of the Customer Service Representative (CSR) staff.

Charlie has long reported that her favorite part of all her roles with ABS has been interacting with members and assisting them with their issues and concerns.  An especially enjoyable aspect of this is when she connects with past members who re-join ABS after years away and they still remember her by name.

Charlie added that her longevity with ABS and loyalty to the company stem from the affection she feels for the ownership and management.  "The Lapianas have been like family to me all these years.  I owe all of my hard work and dedication to the fact that they and this company have been with me and supported me through good times and bad," Charlie said. 

ABS Vice President of Operations Sylvia Bruno said ABS is proud of Charlie's achievement and values her ongoing commitment to the company and its members.  "Charlie has always been a very valued member of our staff, and it was with great pleasure that we recognized her achievement of providing 25 years of excellent service to our members."

Charlie lives in the Detroit metro area with her husband and enjoys spending time with their children and her father.
ABS CONTACTS
Sales Support
 MI, IN, IL, OH, WI BUSINESS
 
 ABS Sales Support Hotline
(844) 828-5968
 
EGP BUSINESS
Sue LaCavera
(800) 229-2210 x 139
Sales Support Team Mailbox

   
Donna Sulhan
(800) 229-2210 x 119
 

Third Party Administration.  First-Class Results.
Home Office
8220 Irving Road  I  Sterling Heights, MI  48312  I  Tel  586.693.4300
  
Sales and Marketing Divisions
  255 S Old Woodward  I  Suite 300  I  Birmingham, MI  48009  I  Tel  844-828-5968

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