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IRS Changes Health FSA “Use-or-Lose” Rule; Clarifies Transition Relief for 2013-14

IRS Changes Health FSA “Use-or-Lose” Rule; Clarifies Transition Relief for 2013-14 On October 31, 2013, the IRS released Notice 2013-71, which modifies the “use-or-lose” rule for health flexible spending accounts (health FSAs) to allow a $500 annual carryover of unused contributions, provided that the cafeteria plan offering the health FSA does not incorporate the “grace period” […]

IRS Changes Health FSA “Use-or-Lose” Rule

Peter J. Marathas, Jr. Legal & Compliance Director, Benefit Advisors Network Produced in conjunction with Proskauer Rose law firm. IRS Changes Health FSA “Use-or-Lose” Rule; Clarifies Transition Relief for 2013-14 November 13, 2013 On October 31, 2013, the Internal Revenue Service (IRS) released Notice 2013-71 (Notice), which modifies the “use-or-lose” rule for health flexible spending accounts […]

C.M. Smith Brokerage Moving From Glastonbury To Hartford

C.M. Smith Brokerage Moving From Glastonbury To Hartford After 40 years of growth in Glastonbury, insurance broker and services firm C.M. Smith Agency Inc. is moving to downtown Hartford later this month as it looks to retain and attract more top talent in the Obamacare era. The agency, which includes a separately owned consulting business for […]