Amid concerns about people being misled, the Internal Revenue Service (IRS) is reminding taxpayers and plan administrators that personal expenses for general health and wellness are not considered medical expenses under the tax code. This means personal expenses are not … Read More

HRA Plan Changes Please be sure you have informed DBS of any changes to your Health Insurance/ HRA Plans for the 2024 plan year. This includes changes to your carrier or deductible levels. HSA Year End Contributions Deadline HSA contributions … Read More

The IRS just released Revenue Procedure 2023-23, which provides the 2024 calendar year inflation adjusted amounts for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs). These limits are usually modified with a minimal increase each year, but because … Read More

In Notice 2022-41, the IRS expanded the cafeteria plan change in status rules to permit a cafeteria plan participant to change from an election of family coverage to an employee-only coverage plan. This will allow an employee to drop one … Read More

The DBS office will be closed on the following dates through the holiday season: Thursday, November 24th Friday, November 25th Friday, December 23rd Monday, December 26th Monday, January 2nd, 2023 Wishing all of you a happy holiday season!

The IRS released Revenue Procedure 2022-38 revising the Health Care FSA and Limited Purpose FSA maximum for 2023. The new maximum will be $3,050. For plans that permit the carryover of unused amounts, the maximum carryover amount has increased to … Read More

The IRS has increased the standard mileage rates used to calculate the costs of receiving medical care for the final 6 months of 2022. The rate is $.18/mile for care incurred between 1/1/22 – 6/30/22. The rate is $.22/mile for … Read More

Employee benefit packages have NEVER mattered as much as they do right now! For years Diversified Benefit Services, Inc. has added value to clients and business partners by sharing our knowledge and translation of employee benefit plans through our “live” … Read More

The IRS released Rev Proc. 2022-2024 which provides the 2023 inflation adjusted amounts for HSAs. Limits are effective 01/01/2023. Contribution Maximum Self-Only Contribution Maximum $3,850 Family Contribution Maximum $7,750 HDHP Minimum Required Deductible Self-Only Minimum Deductible $1,500 Family Minimum Deductible … Read More

Update Regarding Existing COVID-19 Timeframe Extensions for COBRA and FSA/HRA Claim Filing Deadlines and the February 18, 2022 Extension of the National Health Emergency On Friday February 18, 2022, the White House issued an extension of the National Emergency and … Read More