Since 1982, EBS Atlanta has provided municipal and
county governments, public school and gas districts, medical
centers and private industry throughout the United States
with expertise in every function of plan design, implementation,
communications, economic analysis, administration and benefits
management.
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and invite you to learn more about our company.
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HOW HEALTH CARE REFORM AFFECTS YOUR FSA, HRA, or HSA
On March 23, 2010, President Barack Obama signed into law the Patient Protection and Affordable Care Act (H.R. 3590). This comprehensive health care reform legislation will have significant implications as it is phased in over the next few years. As the legislation currently stands, Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs) will be affected as well.
Over-The-Counter Medicines – beginning with the 2011 plan year (for calendar-year plans), the costs of over-the-counter medicines will no longer be eligible for reimbursement from a Health Care Flexible Spending Account (HCFSA), a Health Savings Account (HSA), or a Health Reimbursement Arrangement (HRA) unless obtained with a prescription.
Health Savings Accounts – beginning in 2011, the tax penalty on withdrawals from Health Savings Accounts (HSAs) for reasons other than the reimbursement of qualified medical expenses will double to 20%.
Limit on Health Care Flexible Spending Accounts (HCFSAs) - Beginning with the 2013 plan year (for calendar-year plans), contributions to a Health Care Flexible Spending Account (HCFSA) will be capped at $2,500 per year, indexed to the CPI.
Of course, changes to the legislation is expected and EBS/Atlanta will make every effort to keep you apprised. We urge you to contact your Congressional Representatives and Senators.
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