2013 Monthly Transportation Limits are $245 for both Transit and Parking.
Valid Supporting Document
Explanations of Benefit Statements from your insurance may be used as a supporting document for your Claims Submission.
Review your Account Details
You can check your available balance by logging in to your account. Click here for instructions on how to register.
Get an email confirmation
You will receive an email confirmation that your Claim for Reimbursement has been received if you use our Online Claims Entry system.
FSA: Rx required
Prescriptions are required for all over-the-counter drugs.
Day Care Expenses
Childcare services can qualify whether in a day care center, a provider's personal home or your home.
Medical Mileage Rates
FSA and HRA Regulatory Updates
IRS/DOL Notice 2013-54 has detailed three impact areas that sponsors need to be aware of for 2014.
Section 125 Flexible Spending Accounts
Employer sponsors cannot contribute more than (the lesser of) $500 or match more than 100% of employee contributions to a participant’s FSA. If this issue impacts your FSA program, you may consider designing an HRA program that is compliant and offers a similar benefit structure. (The HRA will need to meet some new ACA rules, as well.)
IMPORTANT: If your 2013 FSA plan offers an FSA to employees who are not eligible for your other group health plans, you will need to bring these eligibility terms together, beginning in 2014. If offering group health coverage to part time employees (or other current FSA eligible employees not offered core health coverage) is not an option for you, you will need to amend your FSA eligibility to restrict it to employees with health care options.
Section 125 Plans can no longer reimburse employees (pre-tax as through an FSA) for any individual policies that an employee or dependent purchases from a national or state purchasing exchange or any private insurance marketplace. Employer 125 plans can still allow for pre-tax purchasing of health care through group arrangements. This will include so-called premium-only 125 plans or POPs.
Health Reimbursement Accounts (HRAs)
For 2014, HRAs must be integrated with a group health plan. (An employer cannot otherwise offer the HRA as a stand-alone option or in lieu of a core health care option.) However, the IRS/DOL have ruled that “integration” may be permitted whereby the employer offers the HRA to employees who elected coverage under another employer’s health care plan (typically, through a spouse). Confirming participation in the other employer’s coverage will be important to the HRAs compliance.
Integrated HRA plans must also offer an employee “opt-out” provision and enrollment materials should so indicate. Most HRA programs will need to be restated to bring them into compliance with these new rules. We will continue to advise our clients on these issues as clarifications and developments arise.
Innova Insight Vol 4 No 7
November 12, 2013
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