Controlling Health Care Costs: Prerequisites for a Dependent Eligibility Audits
by Mark S Sommers, Esq.
Many employers and their contributing employees struggle to afford the yearly (sometimes double digit) increases in health care costs. Contributing to this issue is the unfortunate reality that all too few employers monitor for the accuracy of enrolled dependents. As a consequence, employer plans wind up with ineligible enrolled dependents (and their costs). Studies suggest that up to 8 percent or more of enrolled dependents would not meet traditional eligibility definitions. It is not unusual to find “family” covered dependents to include: grandchildren, ex-spouses, other extended family members, and occasionally, neighbor’s children. Read more...
2012 IRS HSA Limits Announced
The Tax Relief and Health Care Act of 2006 (TRHCA) requires that the IRS release new HSA limits prior to June 1st. Here are the 2012 HSA limits:
|
Health Savings Accounts |
2011 Limit |
2012 Limit |
|
Individual |
||
|
Annual contribution limit |
$3,050 |
$3,100 |
|
Minimum deductible for HDHP |
1,200 |
1,200 |
|
Maximum out-of-pocket for HDHP |
6,050 |
6,050 |
|
Family |
||
|
Annual contribution limit |
6,150 |
6,250 |
|
Minimum deductible for HDHP |
2,400 |
2,400 |
|
Maximum out-of-pocket for HDHP |
12,100 |
12,100 |
|
Age 55 to 65 |
||
|
Annual catch-up contribution limit |
1,000 |
1,000 |
INNOVA BENEFIT Services, LLC has an innovative approach to employee benefit plans. Our mission is to provide personalized services from professionals who care. We offer a broad array of customized services to best suit the needs of our clients and their employees.
What INNOVA offers employers:
- Dedicated Account Manager
- Customized Plan Enrollment materials
- On-site or webcast employee enrollment meetings
- Customer support to Human Resources and Payroll personnel
- HR access to our customized employer website
What INNOVA offers employees:
- Toll-Free Participant Call Center
- 24/7 Account Balance information via our website or toll-free IVR
- Online claims submission via a secure file upload
- Debit cards for employees and family members at no additional charge
- Reimbursement via check or direct deposit