News & Blog

P&A Group’s SmartFlex Program: How to Increase FSA Participation

Employee Benefits, Employer, Flexible Spending Accounts, P&A Group, Solutions

  Many employers and employees have adapted to remote or hybrid work routines.  With more employees home, communicating with your workforce is more essential than ever, especially when your company needs to deliver important messages, like during Open Enrollment.  If you need help connecting with your employees, look no further than P&A Group’s SmartFlex program,…

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2020 FSA Changes: 5 Things Employers Should Know

Employee Benefits, Employer, Flexible Spending Accounts

The IRS has announced 2020 FSA changes employers can make to provide relief during COVID-19, including the option to allow election changes mid year. Piggy bank with words Flexible Spending Account FSA.   With the outbreak of the coronavirus pandemic, the IRS has released new provisions to provide relief for FSA account holders.  Below is…

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2021 HSA Contribution Limits Announced

Health Savings Account, HSA

On May 21, 2020, the IRS announced the 2021 HSA contribution limits for Health Saving Accounts (HSA). The following increases are effective January 1, 2021:   2021 HSA Contribution Limits Individuals with single HDHP coverage will see a $50 increase in the annual contribution limit, bringing the maximum limit to $3,600 for 2021. Families with…

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5 OTC Items You Can Now Buy with Your FSA or HSA

Flexible Spending Accounts, Health Savings Account, Participant

  Under the new CARES Act, millions of account holders can now use their spending accounts to purchase over-the-counter (OTC) items. Consumers were previously prohibited from using their FSA or HSA to purchase OTC items without a doctor’s prescription under the 2011 Affordable Care Act provision. For years, healthcare consumers and industry leaders lobbied for…

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CARES Act: Changes to Retirement Plans

Retirement, Retirement Plan Services

One Hundred Dollar Bill With Medical Face Mask on George Washington. The Coronavirus Aid, Relief and Economic Security Act, or CARES Act, contains important changes to retirement plan vehicles, including changes to defined contribution and defined benefit retirement plans. Americans can expect the following changes to retirement plans.   Early Withdrawals Waived for Coronavirus-Related Distributions Under…

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2020 CARES Act: Employee Benefits Update

Employee Benefits, Flexible Spending Accounts, Health Care Reform, Health Reimbursement Arrangements, Health Savings Account, HSA, Participant, Reimbursement Accounts

  President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act or CARES Act on Friday, March 27. This bill is intended to help Americans by providing some financial relief as we continue to face the coronavirus pandemic. We are especially happy to see these legislative changes provide greater flexibility for account holders. Employees…

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