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October  2013

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Is your firm prepared for 2014 and beyond?   Contact us at Willwerth, Caven &Associates.    

For 2014, Higher Limits for HSA Contributions, Out-of-Pocket Expenses 

 

Minimum deductible amounts for high-deductible plans unchanged.  The Internal Revenue Service announced higher limits for 2014 on contributions to health savings accounts (HSAs) and for out-of-pocket spending under high-deductible health plans (HDHPs) linked to them.

 

In Revenue Procedure 2013-25, issued May 2, 2013, the IRS provided the inflation-adjusted HSA contribution and HDHP minimum deductible and out-of-pocket limits, effective for calendar year 2014. The higher rates reflect a cost-of-living adjustment and rounding rules under Internal Revenue Code Section 223.

 

A comparison of the 2014 and 2013 limits is 

Shown here

Lower Health Insurance Premiums to Come at Cost of Fewer Choices

 

Federal officials often say that health insurance will cost consumers less than expected under President Obama's health care law. But they rarely mention one big reason: many insurers are significantly limiting the choices of doctors and hospitals available to consumers. From California to Illinois to New Hampshire, and in many states in between, insurers are driving down premiums by restricting the number of providers who will treat patients in their new health plans.  Read More

DOL Says No Fine for Not Providing Exchange Notices 

 

U.S. employers were again surprised by another unexpected suspension of a provision of the Patient Protection and Affordable Care Act (PPACA or ACA) when, on Sept. 11, 2013, the Department of Labor (DOL) announced there will be no penalty imposed on employers that fail to distribute to workers a notice about available coverage under state- and federal-government-run health insurance exchanges (collectively referred to by the government as the "health insurance marketplace"), scheduled to launch in October 2013. 

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Denise M. Caven  
Willwerth, Caven & Associates, Inc.
Employee Benefit Solutions