IRS Announces 2016 Health FSA, HSA, HDHP and Transportation Plan Limits

Greg Gautam • November 17, 2015

The IRS has announced cost of living adjustments for health flexible spending accounts (“health FSAs”) in Section 125 cafeteria plans, contributions to health savings accounts (“HSAs”), out-of-pocket maximums under high deductible health plans (“HDHPs”) and qualified transportation plan benefits for 2016.

For 2016, the health FSA limit on voluntary employee salary reduction contributions will remain $2,550 (unchanged from 2015).  For 2016, the HSA contribution limit for individuals will remain $3,350 (unchanged from 2015).  For families the HSA contribution limit for 2016 is $6,750 (increased from the 2015 limit of $6,650).  For 2016, the HDHP out-of-pocket maximum for individuals is $6,550 (increased from the 2015 limit of $6,450).   For families the HDHP out-of-pocket maximum for 2016 is $13,100 (increased from the 2015 limit of $12,900).

For qualified transportation plan parking for 2016, the limit is $255 (increase from the 2015 limit of $250). For commuter highway vehicle and transit passes for 2016, the limit will remain $130 (unchanged from 2015).

Employee burnout: what it is and how to prevent it

By Mardy Gould • May 24, 2024
Employee burnout has become an epidemic in today’s modern workplace. So much so that the World Health Organization (WHO) officially recognizes it as an “occupational phenomenon.”1 While many used to consider mounting workplace stress an individual employee problem, these days, it’s become an employer’s responsibility to prevent burnout before it hurts productivity and business performance—not to mention your employees’ physical and mental health. Luckily, you can prevent burnout from affecting your workforce in several ways. This article will explore the causes and signs of employee burnout and the steps you can take to create a positive work environment where employees feel safe from toxic stress levels.

Form 720 and PCORI fee FAQs

By Mardy Gould • May 23, 2024
If you're a small business owner, you may have heard of the acronym PCORI and the fees that come with it. But what is PCORI, and how does it apply to your organization? Under the Affordable Care Act (ACA), sponsors of self-insured health plans must pay a fee to fund the federal Patient-Centered Outcomes Research Institute (PCORI). PCORI is an independent organization the ACA created to conduct research to help healthcare consumers make better decisions for their specific needs and outcomes. It also performs research related to clinical effectiveness. Employers offering a self-insured medical reimbursement health plan, such as a health reimbursement arrangement (HRA), must pay this fee by July 31 each year via Form 7201. This fee was initially set to expire in 2019, but Congress extended it through September 30, 20292, due to the Further Consolidated Appropriations Act of 20203.
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