The IRS has announced increased limits for Flexible Spending Accounts (FSA) in 2025. Health FSAs allow for a maximum contribution of $3,300, up from $3,200 in 2024. For Dependent Care FSAs, the limit remains unchanged, allowing employees to set aside up to $5,000 per household or $2,500 for married individuals filing separately. Additionally, Health FSAs […]
As of January 1, 2024, California residents can breathe a little easier when it comes to unexpected ambulance bills. Assembly Bill 716, signed into law in 2023, addresses a significant issue that has plagued many patients: surprise bills from non-network ambulance providers. This bill introduces protections against “balance billing” for ambulance services, ensuring that Californians […]
To estimate the costs for a healthcare service with a healthcare provider, you will need the following key pieces of information: By gathering the Tax ID of the billing provider, the appropriate CPT code, and the billed amount, you will have the necessary information that the claims department needs to look up costs. The Tax […]
Many of you might not be aware of the significant financial penalties for not having health insurance in California. For 2023, the state has set penalties at a minimum of $900 for adults and $450 for each dependent child. This amount could increase to 2.5% of your household income over the filing threshold, if that […]
Each year, the IRS announces inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs). The following chart shows the HSA and HDHP limits for 2025 as compared to 2024. It also includes the catch-up contribution limit that applies to HSA-eligible individuals who are age 55 or older, which is not adjusted […]
Each year the HSA contribution limits generally change. The contribution limits are indexed to the Consumer Price Index (CPI). For calendar year 2014, the published contribution limits are as follows: Individual Coverage: $3,300 Family Coverage: $6,550 Catch-up Contribution for those age 55+: $1,000 These amounts have increased from 2013 with the exception of the catch-up […]
The Department of Labor (DOL) has released (May 8, 2013) the model notice that explains the new health insurance exchange that will become operational on January 1st, 2014. The healthcare reform law requires employers to provide this notice to all of its employees whether or not the employer offers health insurance or does not provide […]
The standard premium that most Medicare beneficiaries paid in 2012 was $99.90/month. Starting 2013, the standrd Part B premium will increase by $5/month to $104.90/month. Higher income earners generally pay more based on prior taxable income. Here are Part B premium the charts for 2012 and 2013: If your yearly income in 2010 was […]
Each year the HSA contribution limits generally change. The contribution limits are indexed to the Consumer Price Index (CPI). For calendar year 2013, the published contribution limits are as follows: Individual Coverage: $3,250 Family Coverage: $6,450 Catch-up Contribution for those age 55+: $1,000 These amounts have increased from 2012 with the exception of the catch-up […]