 New FSA "Use-it-or-Lose-it" Provision Announced
 Last week, the Department of Treasury issued a press release and informational fact sheet announcing a major policy change relating to flexible spending accounts (FSAs) that has many positive implications for all FSA participants. The Department of Treasury has modified its FSA "use-it-or-lose-it" provision to allow a limited rollover of FSA funds. <<Read more>>
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HRA / FSA Update
On Sept. 13, 2013 the Internal Revenue Service and U.S. Department of Labor issued Notice 2013-54 and Technical Release 2013-3, respectively, which "clarify" some of the rules as they relate to Health Reimbursement Arrangements (HRA) and pre-tax contributions for certain benefits.
Please <<click here>> to read the release highlights, which aren't meant to be a thorough analysis, but rather a way to answer some of the questions that The Harrison Group has received since September.
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By the Numbers: New IRS Cost of Living Adjustments for 2014
| Healthcare FSA Annual Limit | $2,500 | | Dependent Daycare FSA Annual Limit | $5,000 | |
Mass Transit Spending Account Monthly Limit
(unless parity with the Parking Account is extended)
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$130
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Parking Spending Account
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$250
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| Health Savings Account |
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| Annual Contribution Limit (Single) |
$3,300 |
| Annual Contribution Limit (Family) |
$6,550 |
Minimum Annual Deductible Amount
(to qualify as an HSA eligible plan) |
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| Plans with Single Coverage |
$1,250 |
| Plans with Family Coverage |
$2,500 |
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The HG is Moving to a New Home!
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Rich Miller, left, president of
The Harrison Group, with Pete Tyrrell,
review office blueprints. |
Thanks to a steady increase in new clients over the past several years, combined with the addition of many new associates, The Harrison Group has outgrown its existing office space. We are pleased to report, that after 10 years at our existing location, we'll be moving to a larger space on Nov. 29, 2013.
We chose this date since many of you will be closed for the holiday. Our new address will be:
THE HARRISON GROUP, INC.
Suite 201
3 Raymond Drive
Havertown, PA 19083
Our other contact information, phone and fax numbers, and email addresses will remain the same.
During the next few weeks, we will be sending our clients updated information, such as claim forms, to give to employees. We will also be sending updated re-enrollment information, assuming that insurance plans renew on Jan. 1, 2014.
In addition, since we will still be located in Havertown, our mail carriers will take steps to make sure that all of our mail will be forwarded to our new office, until all of our clients are able to update with our new address.
As always, thank you for your continued support.
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