New FSA Obligations Under IRS Rules and the ACA: How to Overcome Compliance Challenges

California Employer Resources Webinar

Monday, September 10, 2012
10:30 a.m. to Noon Pacific

Order Option       Price  
1. Live Conference       $189      
2. Live Conference + CD Recording       $259      
3. CD Recording Only       $189      

Flexible spending accounts and health savings accounts are more popular than ever with employees. About 33 million of them take advantage of this opportunity, and those who don't often opt out because of "use-it-or-lose-it" rules that fortify the money left in the account at the end of the year.

Nearly 80 percent of employers set a limit on health FSA contributions at $5,000. Under the Patient Protection and Affordable Care Act, a $2,500 cap on health FSAs goes into effect beginning January 1, 2013. In light of the cap, the IRS is determining whether the use-it-or-lose-it rule will be necessary going forward.

With the new IRS guidance and regulations on FSAs, it's crucial for you to know which types you can sponsor and how to comply with the latest rules. You'll also need to get up to date on your compliance obligations under the ACA.

Participate in this interactive and timely webinar, and you'll learn:

  • What you MUST know about the IRS’s recently released guidance on the January 1, 2013, compliance deadline
  • Types of organizations that can sponsor cafeteria plans and who can participate in them
  • Key design features of a cafeteria plan, including pre-tax payment of premiums and health, dependent care, and adoption FSAs
  • Expenses FSA contributions can’t be used for
  • Who's considered a “qualified individual” for dependent care FSA benefits
  • Health-related expenses that are covered under an FSA
  • The impact of the new FSA contribution limit and what you must do to ensure compliance with the ACA
  • Best practices for administering dependent care FSA claims
  • The practical impact use-it-or-lose-it rules could have on cafeteria plans going forward
  • Health FSA and dependent care FSA grace period rules you should know about
  • When participants’ elections may be made
  • Mid-year changes that are on the horizon
  • Tips on handling administrative errors, including mistaken FSA elections
  • How to handle health FSAs when an employee takes FMLA leave
  • What to do with FSA forfeitures
  • How to avoid the most common compliance mistakes employers make when implementing cafeteria plans
  • And much more

In just 90 minutes, you’ll understand your compliance obligations for FSAs under new IRS guidelines. Register now risk-free.

Attorney Jenifer A. Cromwell is Of Counsel with the Washington, D.C.-based law firm of Bredhoff & Kaiser, P.L.L.C., where she advises clients on a wide range of federal tax and ERISA matters regarding employee benefits. Her practice encompasses health and welfare benefit plans and qualified retirement plans. Ms. Cromwell’s work with health and welfare plans includes counseling on administrative issues, including compliance with the Patient Protection and Affordable Care Act, HIPAA privacy and security, COBRA, Form 5500 reporting, cafeteria plan rules, and participant disclosures and notices. Her work with qualified retirement plans includes counseling on compliance with the Internal Revenue Code, plan design and amendments, and participant disclosures. She also has extensive experience negotiating contracts with third-party administrators, recordkeepers, insurance carriers, consultants, and vendors.

This program has been approved for 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org. The use of this seal is not an endorsement by HRCI of the quality of the program. It means that this program has met HRCI's criteria to be pre-approved for recertification credit.

How Do Webinars Work?

A webinar is remarkably cost-effective and convenient. You participate from your office, using a regular telephone and a computer with an Internet connection. You have no travel costs and no out-of-office time.

Plus, for one low price, you can get as many people in your office to participate as you can fit around a speakerphone and a computer screen.

Because the conference is live, you can ask the speakers questions - either on the phone or via the webinar interface.

You will receive access instructions via e-mail several days before the event. You don't need any additional materials before the webinar starts. Your conference materials will be available for you to view, print, and download when you log in to participate in the event.

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