Compliance ✔- 2020 Limit for Health FSA and More
The IRS issued the 2020 Health FSA limit, which increased $50 to $2,750. If an employer’s cafeteria plan document states that the contribution limit reflects the maximum allowable by the IRS, then no changes are necessary. However, if the document states a...
Compliance ✔- FLSA Exemption Rule Effective Jan. 1
The DOL issued a final rule for overtime exemptions under The Federal Labor Standards Act (FLSA). Effective January 1, 2020, the rule increases the standard salary level to $107,432 annually for highly compensated employees and $684 weekly ($35,568 annually) for...
Compliance ✔- 2019 EEO-1 Component 2 Pay Data
The EEOC issued a notice to the Office of Management and Budget to request re-authorization of the Component 1 reporting and to announce they do not intend to request renewal for Component 2 pay data reporting. At this time and based on this notice, employers should...
Compliance ✔- HSA-Eligible Health Plan Can Cover More Preventive Care
Effective July 17, 2019, the IRS expanded the definition of preventive care under the HSA-eligible High Deductible Health Plan (HDHP) rules. Preventive care now includes 14 medical services or items for 11 specific chronic conditions, such as insulin for diabetics....